2014-06-26
Since last year, the Office of the Superintendant of Bankruptcy in Canada reported a 24% increase in the number of filings in Saskatchewan over the same 3 months in 2013 and 2014. This stat seems odd, given the increased economic activity in key industries and markets throughout the province. To understand some of the possible reasons for the jump in filings, Ian Schofield of MNP LTD., a Trustee in Regina for more than 25 years, offers three key reasons why and some countermeasures that can help consumers avoid financial issues.
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MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
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MNP Consumer Debt Index
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MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
