VANCOUVER -- It has been a difficult year for many with a lot of financial uncertainity.
Licensed insolvency trustees Bromwich and Smith conducted a poll to determine how Canadians are coping with debt.
Taz Rajan of Bromwich and Smith shared that the survey suggested there are still misconceptions out there about people who can't pay their debts.
Rajan said 53 per cent of British Columbians felt that people who don't pay their debts are irresponsible.
But, Rajan explained, this is a dangerous misconception, as it is usually an external trigger or life event that puts people behind on their bills.
The Bromwich and Smith survey also suggested that the pandemic set back progress for a number of socioeconomic groups.
Rajan highlighted that despite the considerable setbacks, the pandemic is a teachable moment for everyone.
Getting a handle on your finances and putting a plan in place will help reduce anxiety.
If struggling, now is the time to seek help from a debt professional.
The role of Bromwich and Smith is to assist clients with debt solutions, even if they don't need to declare bankruptcy or file a consumer proposal.
