Credit Canada

There's been a fair bit of propaganda lately about it being acceptable to carry debt into retirement, including home mortgages. I don't recommend this myself, but let's take this thinking further. Does it ever make sense for retirees to go bankrupt?

In yet another sign that the recession is bearing down, the number of Canadian consumers filing for bankruptcy rose sharply last month, particularly in the Western provinces.

'Stunning' increase reflects debt trap that's snaring thousands of Canadians, and it likely will get worse.