I work in the insolvency industry in Canada. MNP is a competitor to our firm. Every year they come up with a survey like this which sounds over-dramatic. The in

I work in the insolvency industry in Canada. MNP is a competitor to our firm. Every year they come up with a survey like this which sounds over-dramatic. The insolvencies in Canada are actually down 35% year over year. Most Canadians have been doing better since Covid because of the very generous Government we have and also because most creditors have halted collection procedures. Also, for people who own homes, the meteoric rise in prices has made it possible for them to refinance at sub-2% rates and pay off credit card debt.