Buckling With Debt Thousands Of Albertans Turn To Consumer Proposals

As Albertans continue to grapple with the stark realities of a significant crisis throughout the energy sector, thousands of households have found themselves unable to keep up with day-to-day expenses, let alone their financial obligations. As many across the province investigate which options may be available to them, Consumer Proposals are fast becoming the debt solution of choice. In fact, the number of Proposals filed between January and August in Alberta has jumped 97.5 per cent over the previous five-year average. Consumer Proposals allow consumers to make arrangements to pay off personal debt, often at a reduced rate, while also putting a halt to harassing phone calls and wage garnishments. While it’s disheartening to know the severity of Albertan households buckling under financial insecurity, the increase in Consumer Proposals does come with some good news. If you are struggling with unmanageable debt, you are not alone – and most importantly, you have options. MNP LTD Trustee Zaki Alam was interviewed by CBC News Calgary to discuss the increase in Consumer Proposals in Alberta. The original article was originally posted online atCBC News Calgary​ on November 1, 2016.