BSCC Warns Canadians of Rising Debt and Economic Uncertainty Amid Soaring Interest Rates and New U.S. Tariff Threats

SURREY, British Columbia - May 7, 2025 - PRLog -- As 2025 continues to unfold, Canadians are facing a perfect storm of financial pressures. Record levels of unsecured consumer debt, persistent inflation, and the looming renewal of over 1.1 million mortgages are compounding household stress—further intensified by the threat of new U.S. tariffs expected to drive costs even higher.

Business Solutions & Credit Counselling Services (BSCC), a nationwide leader in credit counselling and debt solutions, is sounding the alarm and offering urgently needed solutions to help Canadians navigate this growing crisis.

"Canadians are being hit from all sides," said Avineet Kalsey, BIA certified Senior credit counsellor at BSCC. "Inflation continues to erode purchasing power, and with so many mortgages set to renew at significantly higher rates this year, families who were once financially stable are suddenly facing severe cash flow challenges."

In addition to rising mortgage rates, geopolitical pressures—including anticipated U.S. tariffs—are set to drive up the cost of imported goods, deepening the affordability crisis. According to industry reports, unsecured consumer debt continues to climb, with average credit card balances and personal loans reaching historic highs.

"This is uncharted territory for many Canadian households," added Mr. Kalsey. "But no matter how complex the situation, early intervention can make a huge difference. We work one-on-one with clients to restructure their debts, negotiate with creditors, and restore financial health.  Taking action is key, the sooner one does so the sooner we can help tremendously."

BSCC's nationwide team offers personalized, judgment-free consultations and a full suite of services, including debt consolidation plans, budgeting assistance, and credit rebuilding programs. The firm helped a record number of Canadians in 2024 and is exceeding that pace so far in 2025, and expects demand for their services to grow sharply in the coming months.

"With economic uncertainty on the rise, we want Canadians to know they're not alone," Avineet Kalsey emphasized. "We're here to provide practical tools and guidance to help them weather these challenges and secure a stronger financial future."

For more information or to schedule a confidential consultation, visit https://bscc.ca or call 1-866-790-8984.