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

Underscoring Manitobans' financial vulnerabilities when it comes to consumer debt, the latest official figures from the Office of the Superintendent of Bankruptcy (OSB) continue to reinforce the mounting strain on many households in the province. The number of Manitobans who filed for insolvency in the second quarter of 2019 was up 15.5 percent compared to the first quarter, and up 4.1 percent compared to the same quarter of last year.

According to a recent Ipsos poll conducted by MNP LTD., pocketbooks across Manitoba are continuing to get lighter as a result of recent interest rate increases.

A huge portion of residents of Saskatchewan and Manitoba are concerned about their level of debt and their ability to meet their payment obligations.

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

I doubt that mental health was on the minds of legislators when the Bankruptcy and Insolvency Act (BIA) came into effect in 1950.

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.

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

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.