Increased mortgage activity and rising house prices in the fourth quarter of 2020 pushed the overall consumer debt level to $2.07 trillion, up 1.5 per cent from last quarter and up 4.1 per cent from Q4 2019. Despite the increase…
Canadian consumer insolvencies dropped last year to the lowest level in two decades, as government support measures and creditor deferral programs allowed borrowers to keep making monthly payments. We took a look at our own internal insolvency numbers by year…
Not only has Canada become a debtor nation (click here), but most Canadians are drowning in debt. Our day–to–day dependence on debt begs the question: Can the bible teach us anything about debt? First, the Bible…
Continued growth in the housing market and new auto loans led the way in driving total consumer debt up by 3.8 per cent to $2.041 trillion in the third quarter of 2020, according to Equifax Canada’s most recent report on…
Canada is officially the global leader in debt. The most heavily encumbered house in the neighborhood! A recent report by the Institute of International Finance (IIF) indicates Canada saw the biggest jump in non-financial sector debt this year. Bigger than…
According to the latest release in mid October of the MNP Consumer Debt Index the dour financial outcomes, as a result of 7 months (and counting) of economic disruption, due to Canada’s response to the pandemic,…
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 we can help. A new study released in early…
This article originally appeared on https://betterdwelling.com/ . Due to its frightening nature we thought it would be best to re-post it in its entirety. Canadians love mortgage debt, and most households consider it low risk. However,…
Earlier in September Statistics Canada reported that Canada’s household debt ratio registered a significant decline between April and June from 175% to 158% over the previous quarter. So, in other words Canadians only owe $1.58 for every dollar of income…
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…