“In retirement, you are living on a fixed income, which can make paying down debt difficult, but not impossible. As individuals approach retirement, they need to make every effort to reduce their debt as much as they can." - David Smith
Calgary, Alberta (PRWEB) July 31, 2012
According to David Smith, debt management expert for Personal Bankruptcy Canada, the debt repayment decisions that retirees and soon-to-be-retired Canadians make today will dramatically affect how financially comfortable they will live in retirement.
According to a recent CIBC/Harris Decima survey, nearly 60 percent of retired Canadians are currently in debt and more than 75 percent of non-retirees are holding debt. The survey also reports that the percentage of retirees with debt was highest in the country’s Atlantic Canada region compared to the rest of the country.
“In retirement, you are living on a fixed income, which can make paying down debt difficult, but not impossible,” said Smith, a Trustee in Bankruptcy, and Co-Founder of Personal Bankruptcy Canada. “As individuals approach retirement, they need to make every effort to reduce their debt as much as they can.”
“There are many debt management options available to individuals in retirement and for those preparing for that next stage in life,” added Smith. “With the help of qualified financial specialists, individuals can leverage a variety of debt management solutions to help ease one’s debt burden going into their golden years.”
For more information about managing debt or to find a debt management expert, visit Personal Bankruptcy Canada.
About Personal Bankruptcy Canada
Personal Bankruptcy Canada, Inc. is a leading free resource for Canadian debt and bankruptcy information. Its network of professional trustees in bankruptcy, located throughout the Canadian provinces and territories, are dedicated to helping Canadians overcome and resolve debt and financial problems.