Manitobans Enjoy Credit Sprees But What Happens When Rates Go Up

2017-05-02   minute read

MNP Consumer Debt Index

​​With interest rates parked at record lows, many Canadians have taken full advantage – splurging on low cost credit despite a stagnant economy. However, with financial analysts posturing that a rate increase could quite possibly occur before the end of year, the time has come to curb the spending and start putting more emphasis on decreasing or, if possible, eliminating debt. With three in ten residents in Manitoba and Saskatchewan saying that an increase in interest rates could put them on the brink of financial ruin, the time to put a halt on debt accumulation – is now.​ MNP’s Gord Neudorf spoke with the Winnipeg Free Press about the Ipsos survey conducted on behalf of MNP and the impact interest rates could have on Manitobans. An original article was postedonline​ on April 11, 2017. Gord Neudorf is a Licensed Insolvency Trustee serving Winnipeg and the Eastern Manitoba region. To learn more about how MNP Debt can help you, contact our local office at 204.336.6167.

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