The number of Canadians facing insolvency has hit a record high, with more than a third (35 per cent) saying they cannot meet their financial obligations.
Albertans are expressing the most concern, with 72 per cent saying they are now more concerned about their ability to pay their debts.Those figures are included in the latest Consumer Debt Index, released by Alberta-based MNP Ltd., Canada's largest insolvency practice.
More than half of Albertans say they regret the amount of debt they have taken on in their lifetime, and close to three-quarters say they are feeling the effects of rising interest rates.Perhaps more ominous is the finding that nearly half of those surveyed say they are less than $200 from failing to meet their financial obligations.
"Just surviving day to day is getting difficult -- like utilities, groceries, gas. We're just barely making ends meet." Smith said.
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