Credit card debt five times more problematic than other types of debt reported; COVID-19 pandemic called out as factor in over half of personal insolvency filings since March 2020
VANCOUVER, British Columbia, Jan. 11, 2021 (GLOBE NEWSWIRE) — Sands & Associates, BCs largest firm of Licensed Insolvency Trustees serving individuals and small businesses, released the results of the 2020 BC Consumer Debt Study today. This unique annual study polled over 1,800 consumers around the province who declared Bankruptcy or consolidated debt using a Consumer Proposal.
In addition to examining causes of debt and the often-severe impacts for British Columbians facing debt problems, the 2020 BC Consumer Debt Study found that:
Over 55% of polled BC re…
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