Toronto, Ontario--(Newsfile Corp. - May 3, 2024) - A. Fisher and Associates (AFA), a respected licensed insolvency trustee firm in Toronto, is proud to announce the publication of a comprehensive analysis illustrating an increase in insolvency cases across Canada from January 2022 to February 2024. This groundbreaking analysis, now available on their Debt Relief Canada website, sheds light on the interconnected factors contributing to a nationwide surge in financial distress.
Using in-depth research and data collation, AFA's study reveals a significant jump in insolvency filings from 7,392 in February 2022 to 11,542 by February 2024. The analysis encompasses an examination of credit card debt, living costs, and collection methods as primary catalysts of this growing trend.
The publication meticulously details how higher living costs, notably in food and housing, paired with substantial credit card debt exacerbated by rising interest rates, have placed pressure on Canadian households. Furthermore, the analysis also highlights a post-pandemic shift in creditor behaviors, towards more aggressive collection strategies.
AFA's contribution to the discourse on financial stability in Canada provides crucial insights and potential pathways for recovery.
"Our comprehensive analysis not only aims to bring to light the current financial struggles faced by many Canadians but also to spark meaningful discussions on feasible solutions and preventive measures," said Andy Fisher, a seasoned licensed insolvency trustee at AFA.
About A. Fisher and Associates:
A. Fisher and Associates is a leading licensed insolvency trustee firm based in Toronto, committed to assisting individuals through financial turbulence towards a stable and secure financial future. With broad expertise in insolvency laws and financial restructuring, AFA has become a beacon of hope for thousands grappling with financial distress.
For access to the full analysis and insights into navigating through financial challenges, visit the Debt Relief Canada website hosted by A. Fisher and Associates.
For further information, interviews, or expert commentary, contact:
marketing@afisherandassociates.com
Media contact
Anna Davies
marketing@afisherandassociates.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207872
SOURCE: United Press
