Overuse of credit cards could be contributing to rise in bankruptcies in Quebec
More than 34,000 Quebec households filed for insolvency between June 2024 and May 2025. That鈥檚 an increase of almost 5% over the previous year. For Benjamin Croituru, that鈥檚 cause for concern. 鈥淓verybody makes mistakes financially,鈥� says Croitoru, the academic director of 9I制作厂免费 Personal Finance Essentials, a free online financial course. 鈥淧eople face a system that is kind of rigged against them. There鈥檚 a lot of marketing that encourages people to spend too much money, to borrow money the wrong way. A lot of people overuse credit cards, of course, because they鈥檙e so convenient, but the cost of borrowing money with your credit card is staggering.鈥� Bad financial habits aren鈥檛 necessarily the fault of an individual, he adds. The system really encourages people to behave in a way that could damage their own finances.
