Despite Interest Rate Cuts, More Than 1 in 4 Canadians Expect to be Unable to Pay Bills – Yet More Than 1 in 5 Plan to Take on More Debt
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Despite interest rate cuts, over 25% of Canadians expect to struggle with bill payments, while more than 20% plan to take on more debt. Inflation remains a major concern for 82% of Canadians, with 44% reporting worse-than-expected household finances in 2024.
January 07, 2025 | 11:15 am
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TransUnion, a credit reporting agency, may see increased demand for its services as more Canadians plan to take on debt and face financial difficulties.
As more Canadians anticipate financial difficulties and plan to take on additional debt, the demand for credit reporting services like those offered by TransUnion is likely to increase. This could positively impact TRU's revenues in the short term.
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