HALIFAX -- A new report shows that many Atlantic Canadians are worried about going into debt in 2021.

A recent poll conducted by Ipsos on behalf of a national bankruptcy firm shows 47 per cent of Atlantic Canadians are worried they’ll fall further into debt this year, as financial challenges are ramped up due to the COVID-19 pandemic.

“We see many, many Canadians struggling every day,” says Tina Powell, a Dartmouth-based licensed insolvency trustee with MNP LTD.

As a licensed insolvency trustee, Powell administers debt relief, regulated by the federal government.

She says since the pandemic began, the financial situation of many Atlantic Canadians has gone from already bad, to even worse.

“Almost half of Atlantic Canadians are struggling to meet their basic needs,” says Powell. “The pandemic has basically magnified that.”

The new report shows growing fears when it comes to covering living expenses and managing household debt.

“It’s hard even to get a job during this pandemic,” says Barry Gibson. “I just need this to stop so we can move forward.”

The report also highlights concerns about being able to handle unexpected expenses.

Mark Henick is self-employed as a mental health strategist, and says his financial situation has taken a big hit over the pandemic.

“Over the course of three days, I lost every single contract,” says Henick. 

A husband and father of three, Henick was quickly faced with a dire financial outlook, and had to recalibrate all of his monthly planning to ensure his family still had a roof over their heads.

“For us, it was the uncertainty of not knowing if within three months, or six months, we would not be able to pay rent,” says Henick.

One impact of COVID-19 in the Maritimes means people live in fear of unemployment and the financial consequences that could go with it.

“I think a lot of people are afraid of what will happen, what could happen,” says Lance Young.

Young says an optimistic attitude keeps him going, as he hopes for more secure times in the future.

“I know it’s going to come eventually, it will just take some time,” says Young.

Powell says there are solutions available for those who feel they may have nowhere to turn for help.

“Setting up a budget, developing financial repayment plans,” suggests Powell.

She says asking for assistance can be the first step towards alleviating a major financial pressure point, and some licensed insolvency organizations offer free consultations designed to help people get back on track financially.