Tag Archives: delinquency

How Much Can CRA Garnish?

When you owe money, no matter how much, to any creditor, one of the most problematic forms of collection action you face is a wage garnishment. When the debt is to the Canada Revenue Agency (CRA), things become even more problematic. If you’re concerned that a CRA garnishment may be headed your way due to […]

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Focusing on the practical versus the sexy

While our provincial and federal government intelligentsia continue to focus their legislative efforts on critically important activities (I say this purely in jest) such as new environmental regulation, carbon taxes and carbon levies in an attempt to reduce Canada’s current whopping 1.6% share of total global GHG (greenhouse gas) emissions Albertan’s and many Canadian’s for […]

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Delinquent and Angry

As widely reported last week in the mainstream media delinquency rates in Alberta and Saskatchewan climbed higher in the second quarter allegedly due to the fallout from the drop in the price of oil. Equifax Canada reported this past week that the delinquency rate for Alberta stood at 1.4 per cent, up 40.3 per cent […]

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Financial Delusions: Wash, Rinse, Repeat

In follow up to our August post on consumer delinquency rates, and the oddity reported two weeks ago that non-mortgage debt levels in Calgary and Edmonton actually decreased year over year (leading us to speculate that perhaps Albertans have stuffed a whole lot more money under the mattress “this time”) we have clearly been far too […]

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Consumer Delinquencies Down (but don’t get too excited)

Credit monitoring agency TransUnion says Canadians appear to be getting better at handling consumer debt. Really? Is anyone that gullible? In a report just released this month TransUnion indicates that a shrinking percentage of debt payments are overdue by 90 days or more — even though the average balance owing continues to rise. There was […]

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Buy All The Things!

According to credit monitoring agency Equifax this past week, the national 90-day-plus delinquency rate on consumer debt in the first quarter of this year was 1.12 per cent, up from 1.09 per cent in the fourth quarter of 2014.  The observation came as Equifax reported that Canadians generally continued to increase their borrowings for car […]

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Coming Soon: Financial House Arrest

With the new deflationary environment we now find ourselves in, recently confirmed in late January with the drop in the Bank of Canada’s overnight rate (along with the potential of a further cut in mid-April), banks are now scrambling to find creative ways to goose a little more margin out of trapped and indebted Canadian consumers […]

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Consumer Delinquencies Reach All Time Lows!

Equifax Canada’s March Consumer Credit Trends Report released April 24, 2013 finds there was moderate growth in total consumer indebtedness (excluding mortgage debt), year-to-date through March 2013 with an increase of 3.9 per cent to $500.8 billion from $497 billion during the same timeframe in 2012. The 90-plus day delinquencies for all credit products (excluding […]

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Consumer Delinquency Trends and our Sleep-Premium Theory

Equifax Canada reported in late January that Canadians are paying off their debts faster with accounts more than 3 months in arrears dropping to an all-time record low. Delinquencies greater than 90 days were down to 1.19 percent in the fourth quarter of 2012 versus 1.22 percent in the third quarter. Delinquency rates as a […]

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Storm Clouds Gather Around Canadian Consumer Credit

We encourage all of our clients to maintain a high degree of awareness and alertness as to the aging of their own current accounts receivable. Those businesses taking a more passive position with slow paying customers in an effort to support their current sales volumes will eventually pay the price and experience the greatest amount […]

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