British Columbians’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

Ontarians’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

Is it difficult to declare bankruptcy? The short answer is… no. However, there are a few things you should know before you consider bankruptcy as a debt management resource.

According to a recent poll, a combination of high debt and low savings means BC residents would turn to debt if caught off guard by a financial emergency.

If you have several different debts and you’re starting to have trouble managing them, you’ve probably already encountered the stress of trying to figure out who’s going to get paid and who’s not going to get paid this month.

The warning signs of personal financial trouble are everywhere. Knowing what they are and how to recognize them can be the difference between quickly recovering from one or two bad months and being trapped in a months or years-long battle with debt.

The impact of this year’s consecutive interest rate hikes and persistent inflation is becoming clear, as Canadians are seeing the effect on their wallets.

The latest debt index finds almost half of households are not confident they’ll be able to cover all living and family expenses in the next 12 months without taking on more debt. In fact, the proportion of Canadians who report being insolvent and unable to pay their monthly bills and debt repayments remains at the highest level recorded since the Index was created in 2017. Half say they are more concerned about their ability to repay their debts...

The COVID-19 pandemic has shut down businesses, shaken the global economy and caused large job losses across the country. Thousands of Canadians are taking advantage of federal support measures and many are considering additional ideas to slow all the financial pressures they’re under.

The impact of this year’s persistent inflation and consecutive interest rate hikes is becoming clear as British Columbians worry about the effect on their wallets.