Albertans Using Credit During the Downturn

Our own Freida Richer, a prominent Edmonton trustee and proposal administrator, was recently interviewed by the CBC on how Albertans are coping with the economic downturn. Unfortunately a number are turning to credit at a time when they can least afford it.

“According to Industry Canada data, insolvency rates in Alberta were up 8.3 per cent during the first quarter of this year compared to the same time in 2014. Richer says that increase has translated into more people struggling to make their minimum monthly payments and turning up at offices like hers looking for help. She blames easy access to credit and the “buffet” of available cards, each with its own incentive and rewards.”

Click here to read the whole article.

For  a free consultation, if you are facing peronal financial difficulty, call us toll free at 310-8888 or visit us at to get more information on consumer proposals, personal bankruptcy and other debt solutions.

Bruce Alger

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