COVID-19 Poll Finds Most Canadians Support Debt Remission

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Most Canadians Support Debt Cancellation for Critical Illness, Death of Spouse or Loved One, Job Loss, and Student Loans During Unprecedented Period of Mourning Caused by COVID-19 , suggests a new poll.

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The survey, conducted by the Angus Reid Institute for the Bromwich + Smith insolvency firm, found that more than 80% of those surveyed support the cancellation of critically ill debt, while 72% support the cancellation of the debt of those who mourn the death of a wife.

Support was also high for job loss, with 63 percent in favor, followed by student loans at 52 percent.

When it comes to small business debt, only 44% were in favor of forgiving the debt, while only 39% thought it would be okay to write off the mortgage and rent.

The study is the latest in a series of surveys designed to set a benchmark in public attitudes and force a discussion around the destigmatization of debt, according to a press release issued Tuesday by Bromwich + Smith.

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According to the survey, the least popular causes of debt cancellation were divorce (27%), drug addiction (24%), consumer debt / credit card / car payments (23%) and debt of play (12%.)

“The collective COVID experience has probably made us all more compassionate,” Jasmine Marra, vice president of Bromwich + Smith said in a statement. “Empathy plays a critical role in de-stigmatizing debt and helping clients rebuild their value and thrive. “

The survey also suggests that women are more forgiving than men. For example, 87 percent of women would write off their debts due to a critical illness, compared to 76 percent of men, while 56 percent of women versus 46 percent of men are in favor of canceling student loans. .

Young Canadians, aged 18 to 34, are more forgiving than older people and, as you might expect, were more likely to forgo student loans, the survey found.

The survey of 1,520 Canadian adults was conducted from December 18 to 20 and has a margin of error of plus or minus 2.5 percentage points, 19 times out of 20.

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