The ongoing uncertainty and instability caused by the COVID-19 pandemic have many people concerned about their financial circumstances. But managing debt is something you should always be thinking about no matter what is happening around you in the world and even after the pandemic subsides.

National Consumer Insolvency firm expanding to provided increased service in Northern Ontario

Canadians are feeling worse about their consumer debt and personal finances than was the case just three months ago.

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.

Despite the Bank of Canada stating it will keep interest rates stable until next year, more than half (54%) of Saskatchewan and Manitoba residents say they are more concerned about their ability to repay debts than they used to be.

According to an Ipsos survey conducted on behalf of MNP LTD., the majority of Saskatchewan and Manitoba residents feel they can cover next year’s living expenses without incurring more, despite concern about mounting consumer debt in Canada.

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.

As the shopping rush reaches peak intensity before the holidays, a local debt expert is warning Atlantic Canadians to avoid taking on more debt or payday loans, as they try to cope with the pressures of last minute gifts and Christmas grocery shopping.

The rate, which had been growing since 2013, dipped in 2017 before climbing again in 2018.

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