CONSUMER AGENCY REPORTS A RISE IN DEBT AND DELINQUENCY IN ALBERTA
Published Thursday, May 19, 2016 7:29AM MDT
Last Updated Thursday, May 19, 2016 7:30AM MDT
As the Alberta economy is still suffering in the downturn, one of Canada’s leading credit agencies says it is driving debt and delinquency rates up.
Transunion, in a recent report, say that the number of Albertans who have not paid their debts for 90 days or more rose by 12 percent over the same period last year.
Nationwide, that figure was just three percent.
Calgarians carry the most amount of debt compared to the residents of any other Canadian city, with an average of $28,000.
Further, the Calgary police say that the situation is also pushing up the rates of domestic violence calls.
Investigators say calls for help were up by 40 percent in the first quarter of 2016. They were also more dangerous, with a number of more calls involving weapons.
Members of the Calgary Police Service responded to more than 3,200 domestic violence calls in 2015, a nearly 10 per cent increase over the 2014 numbers.
“Domestic violence is a very real problem in our community and it crosses all neighbourhoods, age groups, ethnicities, religions and economic statuses,” say CPS Staff Sergeant Rob Davidson of the Domestic Conflict Unit.
Davidson says they are trying to do all they can to control the situation. “So, if we can’t control employment, can we help with addictions? Can we help with mental health? Can we help with life skills? Can we help with other factors so we can reduce the stressors in those areas and reduce the risk of violence through that?”
Economists and bankruptcy trustees don’t expect Alberta’s insolvency and delinquency rates to improve until employers start hiring again, which may not be until 2017.