• Piotr Boruslawski

Canadians on brink of insolvency at five-year high

The economic blow of the pandemic appears to be finally hitting home for average Canadians. The number of Canadians close to insolvency reached a five-year high in the latest MNP Consumer Debt Index out this month. Cash-flow insolvency is when a person has enough assets to pay what is owed, but does not have the appropriate form of payment. More than half (53%) of those polled in the quarterly survey taken in early March said they are $200 or less away from not being to meet their bills and debt payments each month, a 10-point jump on the index from December. Read more...

0 views0 comments