Alberta Consumer Debt Worries
The most recent MNP Consumer Debt Index survey released this week found that 48% of Albertans feel they are hovering close to financial insolvency at the end of the month, just $200 or less away from not…
Debt Mountain
Household debt in Canada is now bordering on excessive, catalyzed by low rates setting off a boom of borrowing over the last decade. Canadians now collectively owe C$2.16 trillion, which as a share of GDP is the highest debt load…
HELOC’s: Where ignorance is apparently bliss
As a collection agency with offices in Edmonton, Calgary and the GTA we have recognized that over the last 15 years home equity lines of credit have emerged as the driver of mounting non-mortgage debt in Canada — yet many…
The Worm is turning in the Canadian credit market
As a collection agency with offices in Edmonton, Calgary and the GTA we were alerted yesterday when Equifax Canada reported that consumer delinquencies climbed higher in the fourth quarter of 2018 and the credit monitoring company warns that rising delinquency…
When Can A Collection Agency Call You?
Are you dealing with a collections issue, and wondering when a collection agency can and cannot call you? The team at our Calgary Collection Agencyshare their expert answers today. 1. When Can A Collection Agency Call You? An Alberta-based collection…
Bankrupcies; Meh…
The latest figures from the Office of the Superintendent of Bankruptcy Canada released on January 10, 2019 show the number of Canadian businesses and consumers financially going under jumped significantly in November 2018 compared to a year…
Canadians; CRAZY in love with debt
As a collection agency with offices in Edmonton, Calgary and the GTA we recognize that the vast majority of consumers we inevitably end up dealing with are good people, with good intentions, that have now simply arrived at the tipping…
Harbinger of Turmoil: When the Bank of Canada Buys
As a collection agency with offices in Edmonton, Calgary and the GTA we are watching with keen interest the unfolding of the following events with respect to their impact (or lack thereof) on…
Differing Degrees of Misery is still Misery
Just how much money do you need to be among the global 1 percent? According to the 2018 Global Wealth Report from Credit Suisse Research Institute, you need a net worth of $871,320 U.S. or $1,141,429.20 CDN…
Consumer Cannon Fodder
Good news for long abused savers while long favoured debtors are nudged a little closer to the precipice. It appears overindebted Canadian consumers can now officially consider themselves nothing but cannon fodder at the Bank of Canada. Governor Stephen Poloz…