By Jasmin Brown

BDO Debt Solutions

Life Happens

Sep 22, 2022 | 10:26 AM

“The views and opinions expressed in this article are those of the author and do not necessarily reflect the position of Pattison Media and this site.”

Talking about your debt isn’t easy. Debt is a reality for many, but it is also something that people often really struggle to open up about. There is a certain amount of shame that comes along with having a financial situation that does not look the way you want it to look. I have met with many people over the years, and almost never do I find someone that meant to get themselves into financial difficulty. While it is true that sometimes mismanagement can play a part, financial difficulty is not something that people set out to get themselves into intentionally. Life happens.

Common Causes of Financial Difficulty

Some of the most common causes of financial difficulty that we come across are:

· Relationship breakdown (divorce, separation);

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NO INJURIES REPORTED

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· Physical or mental health related issues;

· Job loss or inconsistent employment;

· Business failure, including non-compliance with CRA and failure to pay taxes;

· Assistance of family members;

· Scams or fraud;

· Litigation issues;

· Drug/alcohol addiction;

· Gambling.

Financial Difficulty Can Happen to Anyone

I have learned through working in this profession that there are many misconceptions about financial difficulty, as well as misconceptions about what type of person may find themselves in need of a debt solution. It is not always who you would think. We meet with people from all walks of life – professionals and non-professionals, high-income earners and low-income earners, those with post-secondary education and those with no post-secondary education. We meet with all types, because the reality is that life happens. People get ill, they lose jobs, they go through divorce. The unexpected happens, and luckily, there are solutions available.

No Judgment

If you are one of the many people that is struggling with debt, we encourage you to reach out. We understand that talking about your financial difficulty is hard, but oftentimes the hardest part is making that first call. We will meet with you in a non-judgmental, empathetic environment, so that you have the chance to tell your story. Learning your options will give you the information you need to make a change in your life for the better, and not to allow your current financial circumstances define you. You can turn the page on your debt and meet your financial goals as you move into the future.

If you are having trouble making ends meet each month, finding the right debt solution can help. Visit the BDO Debt Solutions website for more information about bankruptcy, or call 1 855 BDO DEBT to book a free, no obligation consultation.

Jasmin Brown is a Senior Vice President overseeing the insolvency practice in Saskatchewan. She is committed to providing creative and practical debt solutions with empathy, understanding and professionalism to help people overcome their financial difficulties.