Jan 14: Linda Paul, 63% of Canadians Concerned About their Ability to Repay their Debts

First 2024, MNP Consumer Debt Index released and Canadians' current debt perceptions reaches all-time low. 63% of Canadians concerned about their ability to repay their debts. - 47% regret the amount of debt they've taken on. FINANCES: taking a toll on mental health: 60% of Canadians say their financial situation causes them anxiety, stress (59%), isolation (48%), embarrassment (40%). - 26% making only minimum payments on credit card, minimum payments on lines of credit (19%), 18% say they took from savings, home equity, RSP or alternative methods to pay debt or day-to-day expenses in the last year.

Guest: Linda Paul, licensed insolvency trustee, MNP LTD, British Columbia.

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