Manage Your Debt When Interest Rates Rise

Couple meeting with a Licensed Insolvency Trustee

During these uncertain financial times, it’s important to manage your debt, stay informed about your debt-relief options, and seek knowledge and advice from a trusted professional.

In support of Financial Literacy Month, one of our Licensed Insolvency Trustees, Chris Sinclair, sat down with Financial Coach Lindsay Plumb from Moola Financial and the Pretty Money Club to discuss the current state of the economy and the options you have to manage your debt.

During their candid conversion, Chris tackles the stigma of filing for bankruptcy and discusses the unexpected life events that can often lead to filing for insolvency, unfortunate situations that can happen to anyone–not to mention things like global pandemics and out of control inflation.

He walks listeners through the pros and cons of managing your debt by filing for a consumer proposal or personal bankruptcy, how you know it’s time to get help with your finances, and how to reach out for help. He also discussed the differences between a Licensed Insolvency Trustee and other unlicensed debt advisors who often take advantage of individuals and families who find themselves in a vulnerable place financially.

Check out the full video here – Managing Your Debt When Interest Rates Rise.

If you’ve tried budgeting and other debt management strategies on your own but continue to struggle to find the money to make ends meet and make your minimum debt payments, a consumer proposal could be a good option for you. Managing your debt through government-regulated programs allows you the opportunity to address the old problems (debt!) head on so that you can move forward with a fresh start and enact healthy money habits like budgeting, setting financial goals, and saving for your future.

There’s no better time than Financial Literacy Month to book your free consultation with one of our debt experts and start talking about your debt-free future.