MNP Consumer Debt Index July 2019 Results Summary

Canadians Wary and Embarrassed About Seeking Debt Relief 

Canadians who find themselves in serious financial trouble could be digging themselves into a deeper hole by not seeking help when they need it. A new survey conducted by Ipsos on behalf of MNP LTD, shows almost half of Canadians (46%) say they would be embarrassed to get help if their financial situation was bad enough to consider bankruptcy. One-third (31%) of survey respondents say the stigma surrounding bankruptcy prevents them from seeking help.

More than 60 percent (61%) of Canadians who rate their personal debt situation as bad and more than half (54%) who are financially insolvent say they would be embarrassed to ask for help if their financial situation was serious enough to consider bankruptcy.

Debt Index Results July 2019

Press Releases

• National: Canadians Wary and Embarrassed About Seeking Debt Relief
• B.C.: Number of British Columbians Within $200 of Insolvency Every Month Jumps Five Points Since March
• Ontario: Ontarians Wary and Embarrassed About Seeking Debt Relief
• Saskatchewan: Saskatchewan and Manitoba Residents Wary and Embarrassed About Seeking Debt Relief
• Alberta: Albertans Wary and Embarrassed About Seeking Debt
• Atlantic: Atlantic Canadians Wary and Embarrassed About Seeking Debt Relief
• Manitoba: Manitoba and Saskatchewan Residents Wary and Embarrassed About Seeking Debt Relief

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