The numbers of Canadians renegotiating debt is on the rise Photo by Getty Images

With insolvencies on the rise, Canadians floundering in debt are getting more of a helping hand from lenders looking to keep distressed consumers from going under and protect their bottom line and the economy.

That’s the assessment of Benjamin Tal, deputy chief economist at CIBC Capital Markets.

“We are seeing pre-emptive activity by lenders. Basically calling people and saying, ‘Let’s go have coffee and discuss your situation,'” he said during a podcast with CIBC chief economist Avery Shenfeld. “The economy is in a semi-recession, second-quarter growth was negative, third quarter was hardly above zero. One accident and we are in a recession .”

One sign that lenders are stepping in is the ongoing ris

See Full Page