MNP Consumer Debt Index


Indebted Canadians say they would need to make almost 40 per cent more to live without consumer debt

Index Tracking

​​Canadians are more reliant on debt than ever and the outlook for paying it off any time soon appears bleak. This is the story told by a recent Ipsos poll conducted by MNP LTD., which indicates a majority of Canadians (58%) believe a significant earnings increase is the only way they’ll be able to escape their debt. With the average household estimating a 37 percent wage boost would be necessary to pay off their creditors, it appears a poorly performing economy and nearly a decade of record-low interest rates have taken their toll.

If this sounds like you or if you’re worried your debt may be spiraling out of control, MNP has created an easy to use tool to get a check-up on your debt health. Click below to access the MNP Debt Scale and get your free assessment today.

Debt Scale Tool

Details behind MNP’s Consumer Debt Index, along with media coverage and our provincial and national news releases can be found below.

To view data from previous releases of the MNP Consumer Debt Index, visit our Historical Data page.

Infographic

Debt Index Results May 2018

Press Releases

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Archives

Debt Index Results April 2018


Debt Index Results January 2018


Debt Index Results November 2017


Debt Index Results October 2017


Survey Results August 2017


Survey Results July 2017


Survey Results May 2017


Survey Results April 2017


Survey Results September 2016

 

About the MNP Consumer Debt Index

These are some of the findings of an Ipsos poll conducted between March 12 and March 16, 2018, on behalf of MNP Debt. For this survey, a sample of 2,005 Canadians aged 18+ 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 ±2.5 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. This represents the second wave of the MNP Consumer Debt Index.

 


 

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 of MNP Ltd. To learn more about how MNP Debt can help you, contact Grant at 778.374.2108 or [email protected]


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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