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
Hackers release corporate data stolen from London Drugs
Retailer London Drugs says cybercriminals who stole files from its corporate head office last month have released some of the data after it refused to pay a ransom.
Toronto man falls off his chair after seeing $70M Lotto Max win in his bank account
A Toronto man who won $70 million in a recent Lotto Max draw literally fell off his chair when he saw the funds in his bank account.
Montreal-area high school students protest 'sexist' dress code
Approximately 50 Montreal-area students — the vast majority of them female — were suspended Wednesday after their school deemed the shorts they were wearing were too short. On Thursday, several students staged a walk-out to protest what they believe is a "sexist" dress code that unfairly targets girls.
Oilers' Henrique, Stars' Hintz out for Game 1 of West final
Top-line Dallas Stars centre Roope Hintz will still be out of the lineup for the Western Conference Final opener Thursday night against Edmonton, which is still without forward Adam Henrique.
'Looking over our shoulders': A killing looms large in a little B.C. town
Something shifted in the pretty little village of Lumby, B.C., after Tatjana Stefanski vanished. It used to be the sort of place where parents let their kids roam free or play in the local creek, but everything has changed.
What is 'slapped cheek disease' and should parents be concerned?
Despite its rough name, experts say most cases of 'slapped cheek disease' are mild and not a cause for concern.
American Airlines retreats after blaming a 9-year-old for not seeing a hidden camera in a lavatory
American Airlines has distanced itself from a court filing in which the carrier said a nine-year-old girl should have noticed there was a camera taped to the seat of an airplane lavatory.
Unknown Newfoundland soldier from the First World War heads back home from France after 100 years
Canadian soldiers and government officials arrived in northeastern France this week for a historic mission: returning an unknown Newfoundland soldier back home.
Calgary Philharmonic takes action following investigation into 'deeply troubling' comments by 2 musicians
The Calgary Philharmonic has confirmed its taking action after controversial online comments made by two members of the orchestra.