Ottawa has proposed regulatory changes that would lower the criminal interest rate from the equivalent of 47 per cent annual percentage rate (APR) to 35 per cent APR. But credit counsellors and poverty activists say that alone won’t address the reasons why people turn to alternative lenders.
Ruined : Pre-sale homes are bankrupting people in Canada dailyhive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyhive.com Daily Mail and Mail on Sunday newspapers.
Toronto-area furniture retailer Bad Boy Furniture Warehouse Ltd. is officially bankrupt. In November, the company filed a notice of intention under the Bankruptcy and Insolvency Act, saying it aimed to restructure its business.