MNP Consumer Debt Sentiment Survey


Low Interest Rates Have Caused Many Take on More Debt than They Otherwise Would Have

Canadian’s appetite for cheap credit is being highlighted by a new survey conducted on behalf of MNP Debt*. Nearly 30% of Canadians say that the current low interest-rate environment has caused them to take on more debt than they otherwise would have. While some blame low interest rates for their borrowing binge, the survey revealed that three in ten will be comfortable increasing their debt load even more if interest rates go down. 60% say that they’ll be more comfortable with their debt load if interest rates decrease.

 

Survey Results April 2017




Survey Results September 2016

 

About the MNP Consumer Debt Sentiment Survey

Now in its second year, the MNP Consumer Debt Sentiment Survey is a semi-annual poll designed to track Canadians’ feelings about their debt and their perception of their ability to meet their monthly payment obligations.

These are some of the findings of an Ipsos poll conducted on behalf of MNP Debt between March 27 and March 30, 2017. For this survey, a sample of 1,500 Canadians from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/ - 2.9 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

 


 

About MNP Debt

MNP LTD, a division of MNP LLP, is one of the largest personal insolvency practices in Canada. For more than 50 years, our experienced team of Licensed Insolvency Trustees and advisors have been working collaboratively with individuals to help them recover from times of financial distress and regain control of their finances. With more than 200 Canadian offices from coast-to-coast, MNP helps thousands of Canadians each year who are struggling with an overwhelming amount of debt.

Grant Bazian is a Licenced Insolvency Trustees, President and CEO of MNP Ltd. To learn more about how MNP Debt can help you, contact Grant at 778.374.2108 or grant.bazian@mnp.ca


Our team of Licensed Insolvency Trustees will help you explore the debt relief options available to you and together we will find the solution that best fits your situation. Set up your FREE, no obligation consultation today.

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