Friends, family, and caregivers can play a vital role in supporting seniors who are struggling financially. Firstly, they can look for signs of financial distress, such as bills piling up, frequent visits to casinos, or neglect of essential expenses like groceries or home repairs. Engaging in open and non-judgmental conversations with the senior about their financial situation is crucial. Offering practical assistance, such as helping with budgeting,...

Ignoring debt issues as a senior can worsen financial problems, leading to creditor actions, asset seizure, and damage to credit ratings. Upon passing away, debt is handled by the executors, burdening them with settling outstanding debts using estate assets. Failure to address debt before death can possibly result in creditors denying debt write-offs, leaving heirs liable for balances, or needing to refuse an inheritance. Seniors can mitigate...

Seniors burdened by debt can find relief through a Free Confidential Consultation with a Licensed Insolvency Trustee. During this session, tailored solutions such as Bankruptcy or a Consumer Proposal are explored, offering the potential for debt freedom in as little as nine months. Additionally, financial counselling services are available to assist seniors in better managing their finances, ensuring their golden years are financially secure.