Low Interest Rates Put Manitobans On Brink Of Financial Ruin

​​Despite the fact that the Canadian economy continues to struggle and unemployment takes its toll on several provinces, low interest rates have encouraged many Manitobans to take on more debt – putting thousands of households at risk should rates increase. In fact, a new poll conducted by Ipsos on behalf of MNP Ltd. shows that more than half of Manitobans surveyed said they are $200 or less per month away from not being able to pay their bills or debt obligations.​ MNP Debt’s Gord Neudorf warns that a lack of financial literacy, a comprehensive budget or emergency funding can all contribute to a dangerous cycle of debt that can increasingly become more difficult to get out of. Gord Neudorf recently discussed the Ipsos survey conducted on behalf of MNP regarding Canadian consumer debt with Global News. The discussion was posted online withGlobal News on May 8, 2017. Gord Neudorf is a Licensed Insolvency Trustee serving our Winnipeg and Eastern Manitoba region. To learn more about how MNP Debt can help, contact our local office at 204.336.6167.