2025-04-14
Three quarters of New Brunswickers have cut spending or postponed major purchases
MNP Consumer Debt Index
Three-quarters (76%) say they have cut back on spending due to economic uncertainty — more than those in any other province.
Consumer Insolvencies Staggering Compared To Past Years
The continued slump in the energy sector, paired with a struggling Canadian dollar and a constantly increasing cost of living has given way to incredible financial burdens for many Albertans. In fact, Edmonton has seen consumer insolvencies jump a shocking 200 percent over the last year. In today’s struggling economy, it can be difficult enough to cover day-today expenses let alone keep on top of debt obligations. The tricky stitch comes when people struggling under a burden of unmanageable debt, rely on further credit to pull through financial distress, which can only lead to a dangerous cycle of debt that’s difficult to get out of.
MNP Licensed Insolvency Trustee Zaki Alam discussed these significant insolvency increases in Edmonton with several media outlets between June 27 and June 29, 2016. These discussions can be found in the links found below.
CBC Radio Active live interview with Portia Clark: http://www.cbc.ca/news/canada/edmonton/programs/radioactive/radio-active-podcast-june-28-2016-1.3656651
CBC News Edmonton at 6 pre-taped interview with Adrienne Pan: http://www.cbc.ca/player/play/714009155582
CBC News Edmonton online article: http://www.cbc.ca/news/canada/edmonton/consumer-insolvencies-staggeringcompared-to-past-years-1.3655269
Zaki Alam
CIRP, LIT, CPA, CA
Senior Vice President
Servicing: Edmonton (Downtown), Edmonton (North East), Edmonton (South), Edmonton (West), Grande Prairie, Leduc, Sherwood Park, Spruce Grove, St. Albert, Yellowknife
Latest Blog Posts
2025-04-14
Nearly three-quarters of Quebecers have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
MNP Consumer Debt Index
Nearly three-quarters (73%) say they have cut back on spending due to economic uncertainty, and nearly as many (70%) say they are delaying major purchases or investments, according to the latest MNP Consumer Debt Index.
2025-04-14
Nearly three-quarters of British Columbians have cut spending or postponed major purchases as they take steps to safeguard their finances amid economic uncertainty
MNP Consumer Debt Index
Nearly three-quarters say they have cut back on spending (74%) and are delaying major purchases or investments (75%), according to the latest MNP Consumer Debt Index.
