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As retailers across the province advertise massive discounts to woo shoppers through their doors on Black Friday, thousands of Ontario residents are preparing to paint their pocketbooks red with debt.
According to a recent Ipsos poll conducted by MNP LTD., the increased cost of borrowing due to rising interest rates is causing many Ontarians to re-evaluate their relationship with debt.
According to a recent Ipsos survey conducted on behalf of MNP LTD., the majority of Ontarians feel they can cover next year’s living expenses without incurring more, despite concern about mounting consumer debt in Canada.
While some of those challenges may seem far in the distance, they will be on your doorstep sooner than you think.
With the Bank of Canada holding interest rates at record lows, Canadians have felt confident utilizing credit freely, despite a struggling national economy.
As debt levels continue to creep, what happens when consumers can’t keep up with minimal payments, let alone being able to actually pay that debt down?
The latest MNP Consumer Debt Sentiment Survey shows that a lack of financial literacy skills may be intensifying Ontarians’ consumer debt binge.
As the nation awaits the Bank of Canada’s next announcement on interest rates, Ontarians’ appetite for cheap credit is being highlighted by a new Ipsos survey conducted on behalf of MNP Debt.
MNP’s David Gowling recently discussed Hamilton’s growing debt issues on the Scott Radley Show.
Finally we’re through the holiday season! But now it’s time for the bills to start rolling in. How nervous are you?
*310-DEBT doesn’t operate in MB, NW ON and QC.
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