Being in debt can be stressful and this stress can be exacerbated by a sense of shame. Many people feel ashamed about not being able to repay their debts, consequently this embarrassment means that money problems (and solutions) are not an area of finances about which most people are well-informed. Unfortunately, this stress and shame can leave a lot of people struggling with debt simply because they want to avoid what they think are the dire consequences of filing bankruptcy.<\/p>\n
In fact, 82% of people polled as part of Sands & Associates\u2019 2017 BC Consumer Debt Study<\/a> said they would have acted sooner if they had been aware of the details of the bankruptcy or Consumer Proposal<\/a> processes.<\/p>\n Hoping to dispel some commonly-confused bankruptcy concerns, and ultimately encouraging people to seek debt help sooner, Vancouver-based Licensed Insolvency Trustee Blair Mantin discussed some frequently asked questions about bankruptcy effects with Global News.<\/p>\n Watch the Global News clip below:<\/p>\n