Canadian Association of Insolvency & Restructuring Professionals

David Lewis, Licensed Insolvency Trustee and CAIRP member, discusses business failures in Canada with Chris Hannay of The Globe & Mail, highlighting how restructuring can rescue viable businesses.

Why there are likely more business failures than insolvency numbers suggest As business insolvencies climb to levels not seen since the financial crisis of 2008, they still represent just a fraction of the businesses that close each year

Buying a new home can be a very exciting and stressful time. It’s important to be prepared for both the known and unknown costs that come with home ownership. Read our latest blog by Andy Fisher, CIRP, LIT for tips on how to save up to buy a house.
https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Ways_to_save_up_to_buy_your_first_home

CAIRP Chair, Andre Bolduc speaks with The Globe and Mail about the surge in Canadian business insolvencies. The data reflects the economic challenges facing many Canadian businesses. Those struggling should seek professional guidance from a Licensed Insolvency Trustee.

Business insolvencies rising to levels not seen since Great Recession Insolvencies had hit a low point early in the COVID-19 pandemic because of government-support programs and rock-bottom interest rates – both of which are now gone

André Bolduc, Chair of CAIRP, shares insights on the financial challenges facing businesses in Canada via BNN Bloomberg. Some may consider ceasing operations instead of formal insolvency, but consulting a Licensed Insolvency Trustee is crucial before making a decision.

Business insolvencies spike in first quarter, consumer insolvencies also rise - BNN Bloomberg Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.

Andre Bolduc, Chair of CAIRP, shares insights on the financial challenges facing businesses in Canada via BNN Bloomberg. Some may consider ceasing operations instead of formal insolvency, but consulting a Licensed Insolvency Trustee is crucial before making a decision.

Business insolvencies spike in first quarter, consumer insolvencies also rise - BNN Bloomberg Business insolvencies surged 87.2 per cent year-over-year in the first quarter of 2024, while consumer insolvencies rose 14 per cent.

Spring is the perfect time to take stock of your small business's financial health and implement positive changes. Read our blog by Colleen Craig, CIRP, LIT on the transformative power of proactive financial management.

When it comes to tax debt, you aren't alone, and solutions are available. Read our latest blog by Braden Burritt, CIRP, LIT to understand why you have income tax debt, its consequences, and all the options available to resolve it.
https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/How_to_resolve_and_avoid_tax_debt

The Spring/Summer 2024 edition of CAIRP's Rebuilding Success magazine is out! This edition brings you a host of engaging features, interviews and analyses on headline-making news and trends in the insolvency and restructuring industry. Read the issue today.
https://www.calameo.com/rebuilding-success-magazine/read/0071757562a5f2aa489d8

Dealing with money as a couple can be a daunting task. However, it is critical to maintain peace and harmony in a relationship and to have a secure financial future. But where does one start? Read our latest blog by Mary Ann Marriott, CIRP, LIT for essential tips to help you build a strong financial plan together.
https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Tips_for_Building_a_Strong_Financial_Plan_as_a_Couple

We recommend businesses that are struggling seek professional help sooner rather than later. Licensed Insolvency Trustees are uniquely qualified to provide customized guidance depending on the business size, structure & assets.

Record surge in insolvencies a 'problematic' sign of small-business closures A report from the Office of the Superintendent of Bankruptcy released Friday found 4,810 businesses filed insolvencies in 2023.

Many people start the new year with the goal of improving their financial situation, but often struggle to stick to their plans or achieve their desired results. If you are looking for tips on how to achieve financial success this year, read our latest blog by Pamela Meger, CIRP, LIT.
https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/How_to_Make_This_Year_a_Financial_Success

CAIRP and the Office of the Superintendent of Bankruptcy have issued a joint alert on debt-relief scams and the telltale signs you should watch out for.

It can be hard to know who’s on your side when searching for .

Avoid falling for debt-relief scams by learning the telltale signs. Keep an eye out for unregulated debt advisors who:
• make unrealistic promises to eliminate your debt or pressure you to make quick decisions;
• ask for fees up front, claim they can get you a better deal and charge unnecessary fees;
• tell you to stop communicating with and/or paying your creditors; and
• offer online services with no option for in-person assistance.

For more information, check out the Office of the Superintendent of Bankruptcy’s consumer alert on debt-relief scams: https://bit.ly/3TfFZry

The holiday season is a time of joy, celebration and often, overspending. If you're looking for some tips to enjoy it stress free, read our latest blog by Collin LeGall, CIRP, LIT. https://cairp.ca/blogs.html

When seeking help with your debt, remember that Licensed Insolvency Trustees are the only professionals authorized to administer consumer proposals and bankruptcies. "Debt consultants can delay the process of getting help," says Andre Bolduc, Chair of CAIRP. Read more in
BNN Bloomberg

Beware of debt relief scams that offer 'pie-in-the-sky promises' - BNN Bloomberg For anyone facing spiralling debt and a falling credit rating, a debt relief consultant's picture-perfect solution could bring a glimmer of hope. But experts say if their promises seem too good to be true, they probably are.

Join our Facebook Live panel discussion taking place in just a few hours at 2 pm ET! Our speakers are Licensed Insolvency Trustees, who help people and businesses facing financial difficulties. They will be sharing practical tips on how to manage your money wisely in today's dynamic economy. Our speakers include:
1. Tania Daher, CIRP, LIT, Associate Vice President, Ginsberg Gingras, QC;
2. Colleen Craig, CPA, CA, FCIRP, LIT, CEO, C. E. Craig & Associates Inc., BC
3. Michael Braga, MBA, CIRP, LIT, Partner - Senior Vice President, BDO Canada Limited, ON
4. Francyne Myers, JD, CIRP, LIT, Allan Marshall & Associates Inc., NS



https://cairp.ca/cgi/page.cgi/_evtcal.html?evt=551

We have all heard the saying… more month than money. What does it mean, and how do we avoid making financial mistakes? Read more in our latest blog by Maureen Babin, Financial Advisor, Amarack Financial.

https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/More_Month_Than_Money_

Is your debt getting out of control? Get help from a Licensed Insolvency Trustee, the only professionals authorized to administer government-regulated insolvency options including consumer proposals and bankruptcies. Learn more in this Yahoo Finance Canada article:

Ask the Expert: What you need to know about filing for bankruptcy “If you're using credit to finance your everyday living expenses, because there just isn't enough paycheque at the end of the month to go through the necessities, it's time to come in and start talking to somebody.”

Most Canadians carry some sort of debt. How can you tell which type of debt is good or bad? Read our latest blog by Braden Burritt, CIRP, LIT to know more.

Just as regular health check-ups can help identify early signs of health issues, regular debt check-ups can help identify potential financial issues. How do you go about checking on your debt? Read our latest blog by April Stroink, Money Coach. https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Assessing_Your_Progress_in_Managing_and_Paying_Down_Your_Debt

There are telltale signs to help Canadians avoid becoming victims of scams. Read this story from to learn the red flags🚩. Avoid these scams altogether by speaking with a Licensed Insolvency Trustee.

Indebted Canadians must watch out for debt scams, groups warn A growing number of unregulated debt advisors are offering misleading promises of quick-fix solutions

Beware of debt-relief scams. Some unlicensed debt advisory firms charge hundreds or even thousands of dollars in unnecessary fees for services they're not licensed to provide & often misrepresent the services they offer. The Office of the Superintendent of Bankruptcy and CAIRP share the five signs of debt-relief scams to watch out for in their latest consumer alert. https://www.canada.ca/en/innovation-science-economic-development/news/2023/11/struggling-with-debt-beware-of-debt-relief-scams.html

When distressed businesses seek the assistance of a Licensed Insolvency Trustee, they may have more restructuring options available and even alternatives to bankruptcy. CAIRP Chair, André Bolduc talks about business and consumer insolvencies on TVA Nouvelles. Read the full story:

En 10 ans: les insolvabilités d’entreprises atteignent leur point culminant Le nombre de dossiers d’insolvabilité d’entreprises au Canada a atteint son niveau le plus élevé des dix dernières années.

As we celebrate Financial Literacy Month 2023, for a fourth consecutive year, CAIRP is organizing a Facebook Live panel discussion on “Managing Your Money in a Changing World.” This event will take place on Thursday, November 30, 2023 from 2-3 pm ET.

Our speakers are Licensed Insolvency Trustees, who help financially troubled individuals and businesses to obtain a fresh start by relieving them from their debt.
1. Tania Daher, CIRP, LIT, Associate Vice President, Ginsberg Gingras, QC;
2. Colleen Craig, CPA, CA, FCIRP, LIT, CEO, C. E. Craig & Associates Inc., BC
3. Michael Braga, MBA, CIRP, LIT, Partner - Senior Vice President, BDO Canada Limited, ON
4. Francyne Myers, JD, CIRP, LIT, Allan Marshall & Associates Inc., NS

Register for the session today! https://tinyurl.com/yckvt9dw

Understanding your debt in today’s economy is more important than it has ever been. Read our latest blog by Pamela Meger, CIRP, LIT to know what you should be looking out for. https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Check_up_on_your_Debt_

“Many companies emerged out of the pandemic already over-leveraged and now they have the added pressures of higher borrowing costs, less access to capital, and high inflation leading to increased costs. It is inevitable that some will be significantly challenged, especially those in consumer-facing sectors,” said CAIRP Chair, André Bolduc. Read the full article in Financial Post:

Canadian business insolvencies surge almost 42 per cent from last year OTTAWA — Canadian business insolvencies were up 41.8 per cent from a year earlier in the third quarter, surpassing pre-pandemic levels.

The Fall/Winter 2023 edition of CAIRP's Rebuilding Success magazine is out! This edition brings you a host of engaging features, interviews and analyses on headline-making news and trends in the insolvency and restructuring industry. Read the issue today.

https://www.calameo.com/rebuilding-success-magazine/read/007175756a94d9354082c

Read our latest blog by Colleen Craig, CIRP, LIT on modeling good financial behavior to empower young people to build a secure financial future. https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Modeling_Financial_Behavior

Ready for retirement? Whether you started planning early or closer to retirement, here are some helpful tips to consider and some common mistakes to avoid. Read our latest blog by Licensed Insolvency Trustee, MaryAnn Marriott and Maureen Babin, Amarack Financial.
https://cairp.ca/cgi/page.cgi/_blogs.html/CAIRP_Blog/Planning_for_Retirement_Age-appropriate_Advice