Canadians may be swimming in debt but help is out there
If you are having trouble paying your bills, a licensed insolvency trustee says you’re not alone.
“We’ve got interest rates on the rise and inflation going up, and we continue to see people struggling with their finances,” said Michelle Statz of Bromwich + Smith, licensed insolvency trustees.
“We see people at all levels of income, all ages and some have experienced life circumstances that are unexpected.”
Statz said she does see people struggling with their budget all the time, and whether they are going to spend money on food or pay their rent or mortgage.
“It’s that and not to mention that they are swimming in debt payments,” she said.
“It’s disconcerting when they have trouble paying their costs or putting food on the table.”
Statz said we are lucky in Canada that there are resources available to help people cope when their budgets are out of control and also help with debt repayment.
“There are always options and bankruptcy is always the last option. It’s really about having a professional look at your budget: what’s realistic, what do you need to live on, and what are your payments?”
She said if the income doesn’t cover your budget and expenses, then you have to take a look at options.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6979388.1722030190!/httpImage/image.jpg_gen/derivatives/landscape_800/image.jpg)
Celine Dion delivers stirring comeback performance at Paris Olympics opening ceremony
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
Jasper wildfire: 'Several weeks' before residents can return, premier says
Premier Danielle Smith said Friday afternoon in Hinton while weather conditions are cooler, the Jasper fire is still considered out of control and that Jasper residents can expect to be away from their homes 'for several weeks.'
Missing 3-year-old boy found dead in creek in Mississauga, Ont.: police
A three-year-old boy has been found dead a day after he went missing in a park in Mississauga, Ont., Peel police say.
Irish museum pulls Sinead O'Connor waxwork after just one day due to backlash
An Irish museum will withdraw a waxwork of singer-songwriter Sinéad O'Connor just one day after installing it, following a backlash from her family and the public, it told CNN in a statement on Friday.
Winnipeg senior's account overdrawn for $146,000 water bill
A Winnipeg senior is getting soaked with a six-figure water bill.
FBI says Trump was indeed struck by bullet during assassination attempt
Nearly two weeks after Donald Trump’s near assassination, the FBI confirmed Friday that it was indeed a bullet that struck the former president’s ear, moving to clear up conflicting accounts about what caused the former U.S. president’s injuries after a gunman opened fire at a Pennsylvania rally.
Driver charged after flashing high beams at approaching police
Orillia OPP arrested and charged a driver with impaired driving after flashing their high beams.
Turpel-Lafond won't sue CBC over Cree heritage report that took 'heavy toll': lawyer
The lawyer for a former judge whose claims to be Cree were questioned in a CBC investigation says his client is not considering legal action against the broadcaster after the Law Society of British Columbia this week backed her claims of Indigenous heritage.
Major Canadian bank experiences direct deposit outage on payday
Scotiabank says it has fixed a technical issue that impacted direct deposits on Friday morning.