Hemorrhaging Cash Continues
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…
Canadian Mortgage Debt Passes 80% Of GDP For The First Time
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,…
Canada’s Household Debt Declines! Cause for Celebration?
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…
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…
Total Outstanding Debt Climbs to $1.991 Trillion
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…
Small businesses billions in debt
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 Ticking Corporate Debt Bomb
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…
Credit Conditions Tightening / Negative Business Sentiment
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 that ain’t really good.
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…
Covid-19: The Hangover Part 2
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,…