The purpose of establishing a bankruptcy system
is to give people a chance to restart,
but some people abuse this system
and declare bankruptcy several times to avoid debt.
Kenneth Nantel has declared bankruptcy
four times in the past 10 years.
He forgave more than 100,000 debts through the bankruptcy system.
Media surveys have found that
people like Nanter are not uncommon in Canada.
Nearly 20% of Canadians who declared bankruptcy in 2018
(approximately 11,500 people) have done the same thing.
Last year alone,
20 Canadians filed for a fifth bankruptcy.
4 billion dollars of debt has evaporated
due to bankruptcy of consumers and businesses.
The problem is even worse in Quebec,
with a large number of third,
fourth and even fifth bankruptcies.
In the past five years alone,
provincial tax authorities have lost nearly $ 2 billion in bankruptcy.
At the same time, credit card lenders pay the bankruptcy costs of
not paying their bills by charging high interest rates to customers.