15 Feb 2017
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

Over-indebtedness is hitting hard for Quebeckers aged 55 and over and, in many cases, unfortunately, leads to bankruptcy. Éric Lebel, Partner and Trustee discuss this troubling phenomenon recently in various media to raise awareness about this worrisome trend.

Stunning 131% increase

In the past ten years, there has been a 131% increase in the number of people aged 65 and older who have gone into bankruptcy in Quebec! The most recent Equifax quarterly report reveals a similar situation: since 2011, debt levels for the 55 to 65 age group are up by 28.7% and for the 66 years and older group, they are up by 47.5%

Leaving behind debts

This means that more and more people are inheriting nothing but debts. The number of individuals who have refused an inheritance, generally for that reason, increased from 1,384 in 1994 to 4,472 in 2016.

For more information, read the following articles (in French):

 

15 Feb 2017  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile

Next article

13 Feb 2017
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

Sherbrooke, February 13th, 2017 – It is with pride that, once again, the Raymond Chabot Grant Thornton’s Sherbrooke office promotes the talent of local artists through its art exhibitions. The works, created by artists from the Eastern Townships region, will be displayed at the RCGT office. This exhibition, open to public and set up in collaboration with La Grande Virée Artistique de Sherbrooke, will be held from February 14th, Monday through Friday from 8:30 a.m. to 4 p.m., until June 10th, 2017.

Raymond Chabot Grant Thornton is thus pleased to exhibit works of art from three talented artists: Mrs. Céline Léveillée and Mr. Jacques Audet, painters, as well as Mrs. Linda Peacock, craftswoman.

“We are always pleased to provide these artists with a unique place to showcase their works of art and for the public to come see them. Culture is most certainly a great lever for economic development in la belle province. It is why we maintain a strong bond with the arts and cultural community”, RCGT’s Eastern Townships’ Vice-President, Mr. Guy Fauteux, stated.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a Canadian leader in the fields of assurance, tax, consulting services, business recovery and reorganization. The strength of the firm lies in a team of over 2,000 people, including 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic organizations all across Canada to unlock their maximum growth potential, with more than 4,000 people working in 140 offices in the country. Grant Thornton International Ltd grants its clientele access to the expertise from member and correspondent firms located in more than 130 countries, with a total staff number of nearly 40,000 people.

About La Grande Virée Artistique de Sherbrooke

La Grande Virée Artistique de Sherbrooke was founded in 2002 under the initiative of a group of Sherbrooke artists, renowned on the provincial and national stages. This event is a summer road trip, covering the 6 boroughs of Sherbrooke, and takes place over 9 days at the beginning of July. It highlights the local artistic talents, whether in visual arts or crafts. For the past 15 years, La Grande Virée Artistique de Sherbrooke has allowed to promote more than one hundred and fifty artists in Sherbrooke’s cultural community. It’s a significant event offered to art lovers so they can discover entirely different worlds, learn about various techniques and expertise and have the chance to talk one-on-one with the artists. La Grande Virée Artistique de Sherbrooke, proud of its coming together with the business community, now presents a cultural display with the latter through, among others, its important partnership with Raymond Chabot Grant Thornton.

 -30-

Information:

Mrs. Sylvie Faucher
Tel.: 1 800 567-6101, ext. 7273
[email protected]

Source:

Francis Letendre
Senior Consultant – Public Relations
Raymond Chabot Grant Thornton
Tel.: 514 390-4201
[email protected]

15 Feb 2017  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile

Next article

10 Feb 2017
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

The 75% increase in housing foreclosures by financial institutions in 2016 is cause for concern in the Lower St. Lawrence region.

According to Stéphane Gauvin, Raymond Chabot Grant Thornton Recovery & Reorganization Partner, this situation is due to the high unemployment rate in the region and lower disposable income per resident. He goes on to stress the importance of anticipating all of the expenses involved in purchasing a home and, of seeking advice immediately in the case of financial difficulties.

For more information, read the article (in French) published on the TVA Nouvelles site on January 17, 2017.

Stéphane Gauvin was also interviewed on the same topic on Radio Canada on January 12, 2017. Hear the show (in French).

15 Feb 2017  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile

Next article

10 Feb 2017
Éric Lebel
Partner | CPA, CA, CIRP, LIT | Recovery and reorganization

According to Superintendent of Bankruptcy statistics, between January and November 2016, over 40 Gaspé residents declared bankruptcy because they were no longer able to meet their financial obligations.

In a CHAU TV article, Stéphane Gauvin, Raymond Chabot Grant Thornton Recovery & Reorganization Partner, explains that over 70% of insolvency and bankruptcy cases result from unexpected events. He does not believe people in Gaspé have more debts than other Quebeckers. However, the higher unemployment rate and lower income makes them more vulnerable to excessive debt.

For more information, read the article (in French) published on the CHAU TV site on January 16, 2017.

 

15 Feb 2017  |  Written by :

Éric Lebel is a partner at Raymond Chabot Grant Thornton. He is your expert in recovery and...

See the profile