Keith Caverly & Assoc. Financial Wellness

Keith Caverly & Assoc. Financial Wellness bankruptcy, Consumer Proposals, debt consolidation, and credit counselling.

Keith Caverly is a Thunder Bay Licensed Insolvency Trustee (LIT) with decades of experience helping his clients. Keith Caverly is a Thunder Bay Licensed Insolvency Trustee (LIT) with decades of experience helping clients navigate their personal financial challenges. Our team can help you with a variety of debt solutions, including bankruptcy, Consumer Proposals, debt consolidation, and credit counselling. Every Licensed Insolvency Trustee in Canada is licensed by the federal government and regulated by the Office of the Superintendent of Bankruptcy. Thunder Bay residents, however, should consider seeking out an LIT with experience specific to Northern Ontario. Unlike many of the LITs offering debt solutions in the north, Keith Caverly has head offices in Thunder Bay and offers services to Northern Ontario communities including Geraldton, Marathon, Fort Frances, Atikokan, Port Arthur, Fort William, and Red Lake. Our Professional approach to:

Reduced Tax Debt
Overwhelming personal debt
Helping you with a Consumer Proposal
Keep your car, home, and RRSPs*
Stop harassing creditor calls immediately.

05/02/2024

We are a local firm staffed by Northerners. We understand the problems living north of Barrie
When you call our office the phone isn't answered by someone in another part of the country, it will be answered by someone who lives in Thunder Bay.
If you choose to let us assist you, the person you meet when first come in will be the same person you deal with throughout the process of solving you debt problems

04/26/2024

According to Stats Canada
Canadian Households Owe Close To $3 Trillion In Debt
The amount of debt is extremely important in contrast to the size of the economy. Accumulation of debt helps to accelerate economic growth, until it becomes too high.
US Federal Reserve researchers found the accumulation of household debt to GDP boosts GDP in the short run for roughly a year. However, once it exceeds 70%, each additional point reduces long-term GDP growth by 0.1 points annually. Considering how rapidly its grown over the past few years, that’s a big slowdown on the horizon.
The latest numbers put the Canadian household debt to GDP ratio at roughly 132% in February. It’s unclear if the impact remains the same at more than 60 points above the threshold, but if it does that’s 6.2 points of growth trimmed over the long term. That’s… a substantial drag on the economy, providing more context as to why the country’s rapid population boom didn’t produce more growth, and instead was largely inflationary.
For context, the American household debt to GDP ratio is 75% according to the latest data. They’re world renowned for debt, with a ratio almost half that of Canada.
It’s not a new problem, but one Canada has been warned about multiple times. Everyone from the OECD to the IMF has expressed concerns about the impact on household debt to long term growth of its economy. The Bank of Canada (BoC) being the latest to call out a “productivity crisis,” as non-productive growth continues to drain any stimulus.
Canada addressed the concerns with its latest budget by ….… more cheap household debt. Sweet Baby Jesus, what’s happening here?

Address

567 Memorial Avenue
Thunder Bay, ON
P7B3Z1

Opening Hours

Monday 10am - 5pm
Tuesday 10am - 5pm
Wednesday 10am - 5pm
Thursday 10am - 5pm
Friday 10am - 5pm

Website

Alerts

Be the first to know and let us send you an email when Keith Caverly & Assoc. Financial Wellness posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Keith Caverly & Assoc. Financial Wellness:

Shortcuts

Share

Category