Wednesday , January 26 2022

Albertans has failed as the oil and gas sector fights, the expert says


The oil and gas market difficulties in the Alberta are likely to push more people into bankruptcy, as one expert in a failed bank says.

Last year, almost 11,000 Albertans made more proposals for consumers or failed, 8.4% more than the previous year, according to the new data from the Central Office of the Bankruptcy Superintendent.

Statistics measure measurements of annual concentrations in November 2001. Data from recent data show that they are slightly more than the previous year, when the personal insolvencies of Alberta increased by 2.3%.

Over the last year, overall growth, according to bankruptcy of people and businesses, was in Canada's 8th largest province in the Alberta provinces, only Newfoundland and Labrador won. Oil production in the Eastern province increased by about 12%.

To find out what helped this change, Calgary Eyeopener The radio host David Gray spoke with David Lewis, a member of the Board of Directors of the Canadian Bar Association and Professional Restructuring Association.

Here's a part of the conversation on Monday.

Q: What can you do about these numbers?

To: Why is it a big part of the differential price we see in our oil and gas market? People are struggling to find work that was similar to what they were earning, and their level of debt did not change. Housing prices have increased and have started to decline in most areas and, over the last year, we have been up and down 125 points, all of which add stress to the people trying to manage their debt level.

Q: How many mortgages and mortgages do Albertens take on?

To: I believe that the debt-free debt is lower than that of the mortgage itself. Mortgages, yes, are a big percentage.

As the Canadian Statistics reported, we do not have the historical amount of mortgage loans. They're not three months behind, but it's not helped, right? If you need to make a mortgage payment or credit card payment, you will make your mortgage payment as soon as possible.

You are using a personal portfolio. But about business bankruptcy?

To: So Albert's negotiation errors have been created [2.6] Percentage, and the second country is the 198 year sales, November 2018, compared to 193 the previous year.

The problem of negotiation with no problems closes many businesses and does not present a formal presentation, since the funds or their assets do not allow them to face such events.

Therefore, on Friday, it would be closed on a local restaurant that was open on Friday, because they had no longer opened and they made decisions, but they did not fail. The doors are turning off.

Q: What are you saying, I will be compact, sounds pretty grim. Is that this? Is this a short term? Does this happen in this province after many years of bad years, after a good year of this province? Or something to follow in order to project it in the future?

To: If they do not see changes in the oil and gas market, for example, if you build and have an approved source or some of a certain financial security, I think we should go a bit of time.

It has been published in a long and clear interview.

With files in Calgary Eyeopener.

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