According to a recent Ipsos poll conducted by MNP LTD., a growing number of Canadians are inching closer to insolvency – with the proportion who are $200 or less from being able to pay their bills each month (46%) rising six points since September.

MNP Consumer Debt Index: July 2018 Results Summary

Canadians who find themselves in serious financial trouble could be digging themselves into a deeper hole by not seeking help when they need it.

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 Consumer Debt Sentiment Survey conducted by Ipsos on behalf of MNP, over 50 per cent of Canadians are very close to being unable to keep up with financial obligations. Details behind the survey can be found below.

Congratulations, you have successfully finished your Bankruptcy or Consumer Proposal! You took control of your financial life and solved your debt issues. Now what?

The rate had been growing since 2012, though it took a dip in 2017 before climbing again in 2018.

Summer conjures thoughts of lazy days at the lake, sunny afternoons in the garden, family barbeques and road trips you wish would never end.

With a stagnant economy and unemployment continuing to take its toll on several provinces, thousands of households or Canadian households are finding themselves struggling to keep up with an ever-increasing cost-of-living as debt continues to compound.

MNP Consumer Debt Sentiment Survey reveals Canadians’ feelings about their debt and their perception of their ability to meet their monthly payment obligations.