British Columbians’ personal debt levels and holiday shopping were front-page news in today’s issue of The Province newspaper.
Despite a recently released survey expressing BC shoppers’ plans to exert control and stick to budgets this shopping season, Sands & Associates vice-president and Trustee Blair Mantin stated that this time of year is “the No. 1 opportunity for people to fall off the financial bandwagon.”
Seniors who have carried debt into retirement, or those surviving financial by juggling existing credit sources may be particularly susceptible to triggers such interest rates rising, a fall in the housing market, or unemployment, creating serious financial difficulty.
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