MNP Debt Blog

The collective pressures of increased interest rates, an uptick in consumer debt over the holidays, a stagnating economy and persistently high cost of living are making it difficult for Canadians to repay their debts.

As the impact of higher interest rates continues to resonate across the country, a growing number of Prince Edward Islanders are struggling to cope.

According to a recent Ipsos poll conducted by MNP LTD., Atlantic Canadians are the sole exception to a Canada-wide trend of increased anxiety around debt, interest rates and personal finances.

According to a recent Ipsos poll conducted by MNP LTD., higher interest rates are a major concern among Albertans.

According to a recent Ipsos poll conducted by MNP LTD., Manitoba and Saskatchewan residents are the most likely (56%) to be within $200 of insolvency at month-end compared to other provinces – jumping 14 points since September.

According to a recent Ipsos poll conducted by MNP LTD., Saskatchewan and Manitoba residents are the most likely (56%) to be within $200 of insolvency at month-end compared to other provinces – jumping 14 points since September.

According to a recent Ipsos poll conducted by MNP LTD., a growing number of Quebec residents don’t earn enough to cover their bills and debt payments, with one third (33%) – a five percent increase since September – now mirroring that sentiment.

According to a recent Ipsos poll conducted by MNP LTD., a growing number of Ontarians are noticing the effects of recent interest rate increases.

According to a recent Ipsos poll conducted by MNP LTD., Canadians continue to fear increasing financial turbulence as the prospect of another interest rate hike looms.

According to a recent Ipsos poll conducted by MNP LTD., British Columbians are particularly worried that rising interest rates will impact their ability to repay debts, with 58 percent expressing concern.