Credit and loan delinquencies up in Alberta
Posted Nov 21, 2015 08:31:24 AM.
This article is more than 5 years old.
Consumers in Alberta appear to be feeling the pinch of the oil slump.
According to TransUnion, credit and loan delinquencies are piling up.
In fact, Alberta has exceeded the national average for the first time, showing a significant increase.
There’s no doubt Calgary is in the midst of some tough times; MNP bankruptcy trustee Donna Carson says oil is having a trickle-down effect.
Her best advice is to ‘know your options.’ She says may try to handle overwhelming debt themselves.
“There’s a pride in ‘being able to deal with it on my own,’ but there is help and trustees to talk to about ‘what are my options’ so they don’t have to go through that on their own.”
Carson says there’s been a significant increase in people calling her own office.
With the holidays around the corner, she says many will make emotion-fueled spending decisions, so it’s best to have a plan.