Delinquency rates jump in Alberta
Posted Aug 10, 2016 8:08 am.
This article is more than 5 years old.
As the economy continues to flounder in this province, more Albertans are finding it hard to stay on top of their credit payments.
Credit monitor TransUnion says delinquency rates have spiked nearly 15 per cent in the past year to sit at just over 3-per cent.
That’s second highest in Canada next to Saskatchewan.
The study considers a person delinquent if they’ve missed a payment by more than 90 days.
TransUnion says the high rates were expected due to low oil prices.
However, the monitoring agency says Alberta still has one of the lowest debt-to-income ratios in the country at 1.37 per cent.
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