Credit cards are easy to get — even for repeat bankrupts. When they can't pay their debt, who covers the cost? - Toronto Star
A Toronto Star/La Presse investigation into the alarming rate of repeat bankruptcies has found many debtors reusing Canada’s insolvency system have accumulated significant amounts of credit debt.
When he filed for his fifth bankruptcy, Gerard Ongo had Capital One and Canadian Tire credit cards in his wallet on which he had racked up roughly $20,000 in debt. Alarmed, the court official reviewing the insolvency saw a glaring problem. “Enabling…Mr. Ongo… [+11779 chars]