Conquering Debt Is Your Right

_{By Bromwich+Smith Staff | 790 words | Reading Time:  4 minutes | Updated Date: 2021/11/09}

As we remember the fallen that fought and died while defending our freedoms we find ourselves thinking about what freedom actually means. Freedom in its most general sense is the ability to act or change without constraint and is further defined as the state of not being imprisoned or enslaved. Your rights to freedom play a critical role in the continued civility of our nation. 

How we define freedom for ourselves may vary depending on our circumstances, where we live and who we are. Having the ability to be free and express that freedom without fear of oppression or coercion is powerful for all of us. 

The empowering nature of freedom enables all of us to make sure we never forget the sacrifices that many have made for us to be free in Canada. Freedom as a concept can feel challenging to uphold depending on how we approach it whether that is through freedom of speech, freedom to express yourself, freedom from harassment, and many more. What is liberating though, is knowing that through the lense of freedom we can understand each other, along with the hardships that may befall us. 

This connected understanding ultimately eliminates indifference and leads to a place of empathy and understanding which is the essence of freedom. To deny the unknown is to be afraid; and to be afraid is to be oppressed and coerced. Freedom does not trade in fear and coercion, freedom trades in courage and hope.

As we are starting to live our new normal in an altered pandemic world, fear can be a constant in the hearts and minds of Canadians.  Many of us have been left with the emotional trauma from the experience, as well as the inevitable financial trauma due to the economic fallout. The damage to the economy is still being felt and lived through the personal experience of individual citizens, which in turn can equal a lack of hope. 

Personal insolvency is a frightening prospect, especially in a society buoyed by consumer credit. To alleviate this fear, we need to inform ourselves by listening to the experts; we need to reserve judgement; we need to be prepared to listen and understand differing opinions, and we need to make constructive and confident decisions to ensure our financial wellness.

You might say that the financial ruin of others doesn’t impact you directly, and that there is nothing that you can do about it. You’d be right too. There is nothing that you can do about someone else’s insolvency, but there is something that you can do to help build our shared freedoms. You can recognize the insolvent person’s guilt and trauma over their situation, and you can help to normalize the conversation of debt. This is how we support our fellow Canadians in rebuilding their worth and removing the stigma about discussing debt. 

A Canadian who is indebted to the extent that they cannot afford to make minimum payments and cover living expenses is not free, they are in bondage. A Canadian who can just make minimum payments, and not pay down the principal owed on debts is not free, they are enslaved. A Canadian who is caught in the mire of overwhelming interest loan payments on unmanageable debt is oppressed. This is not exaggeration: some Canadians have taken extreme measures to escape their debts and attain freedom.

November 11th is Remembrance Day, when we celebrate our freedoms and our way of life, and  honour those that serve and have served to protect our society. One of the crown jewels in Canadian society is our insolvency laws. These laws allow the honest but unfortunate Canadian that is overburdened by their debt to conquer it through a consumer proposal. All Canadians have the right to renegotiate their personal debts under insolvency laws, and the cost to do so is not to be paid by the Canadian, it is to be paid for by their insolvent estate. Conquering debt in Canada is a big part of our rights and freedoms. 

We need to understand that we are not defined by the promises of our past, but more by our commitment to our collective futures. Some people cannot pay their debts, and that’s okay, they are still valuable members of our society and their community. They have a right to be free to conquer their debt and rebuild their worth. 

At Bromwich+Smith we want you to know you are not alone, there is real help out there and by taking action you can alleviate the ongoing pressure you are feeling. If you know of anyone feeling this type of suppression we offer an initial free, no obligation, confidential consultation by phone 1.855.884.9243 or chat. You can also request a call back at our contact us page. Live without overwhelming debt is a Canadian right.