Photo: Contributed

It’s no surprise MNP released its Consumer Debt Index on Blue Monday, which is billed unofficially as the most depressing day of the year.

The report indicated 41 per cent of British Columbians are within $200 of insolvency, 58 per cent are concerned about their ability to repay debt and 27 per cent believe they don’t make enough money to cover bills and debt obligations.

All of those numbers are up from the last report in September, and the situation is only getting worse, according to Kelowna MNP insolvency trustee Darrin Surminsky.

“I’ve never noticed a time where it’s so negative, the sentiment,” Surminsky said. “Everyone’s talking, ‘When’s the recession going to hit? When are interest rates going to go up? When is the housing bubble going to burst?’ No one’s talking about when something good is going to happen. They’re all seeing these clouds on the horizon, and it does make people pause.”

If that isn’t bad enough, getting out of the cycle by becoming fiscally responsible could lead to other problems.

For more on this story, visit Okanagan Edge.