Doug Hoyes, a licensed insolvency trustee and co-founder of Hoyes Michael Associates, delves into Canada's rising consumer insolvency rates, nearing levels last seen during the 2008 crisis. He discusses the stark difference between insolvency and bankruptcy, and the critical role of consumer proposals. Hoyes emphasizes how high living costs, stagnant wages, and debt contribute to financial instability. He offers insights on recognizing warning signs and the importance of seeking help early to navigate financial challenges.