financial news .

Paying Bills and Debt

An online poll conducted by Ipsos Reid between January 27 and 29, 2015 for MNP Debt indicates that nearly half of the respondents are within $200 of being unable to pay to pay their bill and make their debt payments.

Of the 1,582 people who completed the survey one-quarter of them already could not cover their bills and debt repayments. Also, 31 percent of those surveyed said that an interest rate increase could cause them to declare bankruptcy.

Due to the fact that online surveys are not a random sample of the population there is no margin of error given to the survey because the randomness does not make them indicative of the whole population.

In 2014 household debt as a percentage of income in Canada has reached a level of 166.1%. This is the highest of any of the G7 countries. In 2000 the percentage of household debt relative to income in Canada was 110.1%

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