Albertans Financial Woes Skyrocket

2016-11-14   minute read

Grant Bazian

MNP Consumer Debt Index

View of Calgary skyline at sunset

As Alberta continues to grapple with the price of crude oil on the global market and as a result, significant unemployment rolling through the energy sector – it comes as no surprise to learn tens of thousands of Albertans are struggling with financial insecurity. What may come as a surprise however, is just how significant the financial distress is for many. MNP’s recent Consumer Debt Sentiment Survey revealed insolvencies in the province have jumped an alarming 35.5 per cent in the last year. If this statistic is sitting a little too close to home and you’re struggling with unmanageable debt, the time to seek out the advice of a financial advisor or debt professional – is now. While financial hardship can feel debilitating – it’s important to remember that you’re (clearly) not alone and you have options.

The MNP Consumer Debt Sentiment Survey was conducted by Ipsos Reid on behalf of MNP. The Edmonton Sun’s article discussing the survey was originally posted online at Edmonton Sun on October 3, 2016.


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