Posted on 08/11/08
Personal bankruptcies rise as housing slumps
The real estate downturn is adding to an increase in personal bankruptcy filings, as indebted homeowners no longer have a cash cow to turn to when times get tough.In September, personal bankruptcy filings rose to 8,347, up 20 per cent from August and 30 per cent from the same period a year ago, according to statistics from Industry Canada.
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