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BC insolvency getting worse

The news keeps getting worse when it comes to family finances in B.C.

MNP conducted its latest debt index poll, and it found overall attitudes towards personal financial situations have declined significantly since March.

The survey found 44 per cent of people in the province say they are $200 or less away from financial insolvency, which is being unable to pay the amount of money you owe on time. That was the largest increase compared to other provinces.

Making matters even worse is that 49 per cent of British Columbians say they would be embarrassed to get help if their financial situation was bad enough to consider bankruptcy.

However, 85 per cent don’t believe other people should feel that way if they were having major money woes. More than a quarter of respondents are not seeking help because of embarrassment.

For more on this story, visit Okanagan Edge.



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