Debt happens. Let’s talk about it.

When it comes to debt, it may leave many people feeling ashamed, embarrassed, and completely overwhelmed.

If you’re experiencing debt-related stress, you could also suffer from many associated health issues, like sleepless nights, headaches, tension, and more. And if you feel overwhelmed when it comes to managing debt payments, it often prevents you from taking control of your financial situation.

Keep in mind, not all debt results from overspending, living beyond one’s means, frivolous behaviour, or money mismanagement. To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt video series below with MNP's Licensed Insolvency Trustees Wesley Cowan, John Athanasiou, and Tara Silliker.

Do you think there is a stigma around being in debt?

What do debtors tell you about their feelings about being in debt?

Would you say that some people see being in debt as moral failing?

Are people largely shouldering their debt responsibility themselves?

Is it usually only about the debt, or are there other factors involved?

Does the stigma of debt impede people’s ability to seek out a debt solution?

Is there a generational difference to the aspect of the stigma of debt?

What about a stigma around the possible solutions?  E.g. Stigma of Bankruptcy?

What advice would you give to people who are struggling with debt?