Losing a job can be a devastating experience, and it often leads to financial difficulties for individuals and families. In Canada, dealing with debt after job loss requires careful planning and resourcefulness. I will provide an overview of debt relief strategies and resources available to Canadians facing debt after job loss.
The first step in dealing with debt after job loss is to assess one’s financial situation. This includes taking stock of all debts, such as credit card balances, mortgages, and loans. It is important to have a clear understanding of the total amount owed, interest rates, and minimum monthly payments. This information will help create a realistic budget and identify areas for potential savings.…