That’s the finding of a survey by insolvency firm MNP Debt which asked more than 1,500 Canadians about their finances. The figure is up 8 percentage points in 6 months.
The firm also found that 31 per cent of respondents are already late will bill payments and those that are now concerned about their debts has risen to 52 per cent, up 9 percentage points in 6 months.
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An extra $200 per month would be enough to push 56 per cent of Canadians into a debt crisis, unable to pay their bills.