Boom and Bust in Alberta

Consolidated Credit talks to CBC’s The National about Albertan Debt

When oil prices were high, Alberta was the economic envy of Canada.  But now that the price-per-barrel has come back down to earth, many Albertans (and those that work in the oil industry) are all-of-a-sudden finding it hard to make ends meet.

When Albertans were earning big, they were spending big too, racking up hefty credit card bills while they were at it.  With six-figure incomes not uncommon in the boom-time oil patch, Albertans seemed to have no issues with taking on some of the highest debt in the country.

But what happens when the jobs disappear?

Consolidated Credit’s Jacob MacDonald spoke with CBC’s The National about the recent uptick in Albertans seeking credit counselling:

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