CALGARY (660 NEWS) – A new report shows Albertans continue to go broke at an alarming rate.
The affordability index survey from BDO Canada paints a grim picture of how some people are struggling to make ends meet.
Bankruptcy trustee Jordan Day said some of the numbers are very alarming.
“Some of the things I found concerning or alarming is that almost 30 per cent of Albertans are having a hard time feeding their families.”
The BDO survey found nearly one-quarter of all households are carrying more than $40,000 in non-mortgage debt and half are living paycheque to paycheque.
Day said many are still trying to maintain some of the expenses they had when times were good.
“Now they’re stuck trying to cover the debt loads and the expenses that their families, historically, were able to afford and in today’s environment they are not.”
According to Bankruptcy Canada, more people in Alberta continue to go under.
In the first seven months of the year, there were nearly 16,000 bankruptcies in Alberta, up more than 12 per cent from the same period in 2018.