Covid-19 Mortgage Deferrals; Unintended consequences?
As a collection agency with offices in Edmonton, Calgary, and the GTA we are watching with interest for any unintended consequences brought on by the massive degree of…
As a collection agency with offices in Edmonton, Calgary, and the GTA we are watching with interest for any unintended consequences brought on by the massive degree of…
Despite the economic impact of COVID-19, a strong recovery in the Canadian housing market and a slower paydown of existing mortgages helped push total consumer debt to 1.991 trillion dollars in the second quarter, according to Equifax Canada’s most recent…
Has your company experienced an uptick in once good paying commercial customers suddenly going past due? As a collection agency with offices in Edmonton, Calgary and the GTA…
The Basics Corporations are simply an organized group of people. Like with people the higher your debt levels, the harder it is to service your debt. Corporate Canada’s debt (both loans and bonds) currently totals $2.7 trillion — or the…
According to the release of the Bank of Canada’s Business Outlook Survey on July 6, 2020 there were truly no real surprises. Credit Conditions Naturally our interest was most focused on credit conditions and as expected the survey reported less…
Good News There was a sharp decline in the use of credit cards in the last half of March! This led to the first drop in consumer debt balances in more than a decade! Average debt excluding mortgages dropped…
Debt holders have enjoyed highly favourable interest rates for well over a decade, after the 2008 economic recession sent borrowing costs to record lows. But economic lockdowns aimed at curbing the spread of the coronavirus have sent unemployment rates soaring,…
With the bevy of Covid-19 stimulus and support programs having been launched over the last 60 days the federal debt is headed to crush the $1 Trillion mark for the first time in history this year! However, some (MMT’s modern…
The latest MNP Consumer Debt Index compiled by Ipsos in early March shows Canadians are more worried about their consumer debt than ever before. Almost half (46%) say that they are concerned about their current debt…
If there was any doubt that the old saying “cash flow is king” was nothing but just another cutesy cliché, the events as they have unfolded over the last couple of weeks surrounding Covid-19, will likely never again be considered…