​A worrying surge in personal insolvency cases across Barbados has forced authorities to shift from a reactive to a proactive approach to debt, Supervisor of Insolvency Ester Springer said on Friday, as a financial literacy campaign was launched to stem the tide of personal debt.

As the “WeBiz Bajan” community initiative was launched, Springer warned that deep-seated societal shame is actively stopping people from seeking early help with financial distress.

She said: ​”Our office continues to observe that while insolvency matters are increasing overall, the surge in personal insolvency cases is particularly worrying. What we have noted is that the stigma associated with debt often discourages our people from seeking assistance. Many individuals experience tremendous shame and embarrassment when they experience financial difficulties. Rather than seeking help early, they delay action until the situation becomes overwhelming and their options become limited.”