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…
We have all experienced quite the week. Everyone is coming to grips with the new norms, working together to ensure the safety of our communities and focusing on what we can do to support each other moving forward. Our team…
Half of Canadians are on the verge of insolvency, according to a survey on household debt levels in this country. As a collection agency with offices in Edmonton, Calgary and the
We Canadians shouldn’t feel alone when it comes to our debt addiction. The global debt-to-GDP ratio hit an all-time high of 322 per cent in the third quarter of 2019, according to a report released Monday by the
Once considering the above we suspect that as a collection agency operating in Edmonton, Calgary and the GTA we will continue to have our work cut out for…