News

CBC News: Insolvencies spiked by almost 20 per cent in September and could be poised to skyrocket. After a lull in the early days of COVID-19, more and more Canadians are starting to file for bankruptcy again, and experts in the field say government has to do more and soon or the economy could face a tsunami of insolvencies in the coming months. The Office of the Superi...

Advisor's Edge, November 10, 2020 - A report from Prosper Canada says that households in precarious financial situations have few options for obtaining financial advice. The report, Roadblock to Recovery, examines the distribution, amount and composition of consumer and mortgage debt held by Canadian households based on Statistics Canada’s 2016 Survey of Financial ...

Toronto, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Seneca is contributing to the City of Toronto’s response to COVID-19 with two applied research projects focused on helping vulnerable communities access better broadband and government incentives.   The two Seneca projects are among eight resulting from a partnership among the City, Toronto-based postsecondary inst...

TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) — With the country teetering alarmingly on the edge of a financial crisis, Canada’s leading accrediting body for non-profit credit counsellors has released a Bill of Rights for Canadians in Debt.   Credit Counselling Canada has identified major structural gaps in the country’s consumer credit/debt infrastr...

Benefits Canada: On the heels of winning re-election in British Columbia, the New Democratic Party’s work is just beginning, particularly in delivering on its promise to extend pensions and benefits to precarious workers across the province.   “The provincial government is recognizing that more and more workers no longer benefit from these kinds of&nb...

Benefits Canada: With Canadian employees feeling the toll the coronavirus pandemic is taking on the economy, should policy-makers facilitate the use of workplace emergency savings plans?   “We know from data that 28 per cent of Canadian households who are financially impacted by COVID in August were drawing down on their [tax-free savings accounts] and [reg...

Even before the COVID-19 pandemic, many Canadians were having difficulty making ends meet, and the pandemic has further impacted the financial well-being of financially vulnerable Canadians.    In this webinar, we present research on how COVID-19 has impacted the financial security of Canadians and how additional financial challenges are likely to arise over...

November is Financial Literacy Month (FLM) which means there will be a variety of helpful money management webinars, virtual events, and  outreach activities, to help Canadians better manage their money. The fact that the 10th Anniversary of FLM is happening amidst  a pandemic, adds even more importance for the need to help Canadians understand their finances. C...

By John Stapleton   (Note to readers: This article assumes that the rules in place before the COVID-19 emergency and recovery measures of 2020-21 will be reinstated in October 2021. It is probable that post recovery benefit rules will be different.)    Charlie is a 50-year old receiving ODSP (Ontario Disability Support Program) as a single person in...

When the tax software firm Intuit first approached Prosper Canada in 2014 to explore a potential collaboration, we were excited to learn more about the work of its Financial Freedom Foundation, which had played a central role in advancing innovative tax filing assistance for people with low incomes in the United States.     Tax filing is a critical gate...