separation can cause financial crisis

Separation Can Cause a Financial Crisis

In Canada, 41% of all marriages end in divorce before they reach their 30th anniversary. It is certainly an emotionally draining and devastating experience. However, few people realize that it can also wreak havoc on your financial stability. As a result, several divorcees find themselves in unmanageable debt. Let’s take a look at the landscape of marriage, divorce, and debt in Canada.

Debt and Divorce Infographic

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What Can You Do?

Financial Crisis separation splitting assets shared debt

If you are currently experiencing financial difficulty due to a divorce, you may want to consider insolvency. An insolvency proceeding like bankruptcy or a consumer proposal can give you the fresh start you need. Contact us for a free consultation with one of our experienced Licensed Insolvency Trustees.

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About Author

Scott Marshall BBA, C.I.R.P, L.I.T

Scott Marshall BBA, C.I.R.P, L.I.T

Scott is serving as Vice President and managing partner of Allan Marshall & Associates Inc. since obtaining his License as a Trustee (LIT) in 2003. Scott graduated with a Bachelor of Business Administration (BBA) from the University of New Brunswick and is an active member of the New Brunswick business community. In past years, Scott has been a valued member of the Wallace McCain institute.