Job Loss And Debt
According to Statistics Canada, the unemployment rate in Canada in October 2015 was 7%. That percentage has increased 0.4% since October 2014. Job loss and unemployment are very common causes of financial difficulty. For most people, unemployment is temporary and at some point they will get back to work. But, unemployment can also cause people to be trapped by debt. This can often feel like an impossible situation, and can be hugely stressful for everyone concerned.
When we meet with individuals who are struggling financially due to unemployment, we consider their future employment potential when coming up with solutions. Although creditors cannot garnishee employment insurance benefits, it is important to take steps to deal with your debts so that your wages will be protected when you get back to work.
If you’re unemployed and struggling with debt, there are several ways we can help you. Contact us today for a free, no-obligation consultation. We’re here to help you get a fresh start.