Licensed Insolvency Trustees are the only qualified debt help experts endorsed by the Federal Government of Canada and have the legal power to help you eliminate debt and get your finances back on track.
Sands & Associates is BC’s largest firm of Licensed Insolvency Trustees focused exclusively on debt services for individuals and we have been helping BC consumers to overcome problem debt and move forward with their lives for over 35 years, with award-winning service and local offices across the province.
Our dedicated team of Licensed Insolvency Trustees, Estate Managers, and Qualified Insolvency Counsellors believe everyone deserves a fresh start, free from the overwhelming stress of debt.
- Sands & Associates’ Richmond debt help team offers information, resources, tools and non-judgmental support to help you choose the best debt solution for your situation.
- Staff at Sands & Associates’ Richmond office can assist clients in English, Cantonese and Mandarin.
- Residents everywhere in BC can access all of Sands & Associates’ services 7 days a week, and until 7pm most evenings, with options for online video conferencing, phone appointments, and in-person meetings at the local office nearest you.
Talk with a debt expert who cares and choose the debt-free plan that’s right for you. Book your free, confidential debt consultation today.
I’ve Been Turned Down for a Debt Consolidation Loan – Can Sands & Associates Help Me?
Many people find that they do not qualify for a debt consolidation loan when they are already carrying a lot of debt. Fortunately, a Licensed Insolvency Trustee can help you consolidate and even cut your debt without borrowing.
Debt consolidation without borrowing is often achieved through filing a Consumer Proposal, and your credit history or score are not qualifying factors.
Is a Consumer Proposal a Good Option for Consolidation?
A Consumer Proposal is a legal debt settlement option that works by combining your debts into one manageable repayment plan and with its flexible terms and unique benefits, it is often the best option for debt consolidation and debt reduction.
Working with a Licensed Insolvency Trustee you can offer to repay your creditors the amount of your debt that you can afford to repay over a period of up to 60 months, and the remaining balance will be forgiven by your creditors.
Debts you consolidate with a Consumer Proposal may be reduced by up to 50-80%, and, as well as cutting your debt down to what you can afford to repay, a Consumer Proposal provides other advantages, including that:
- Debts are frozen, interest charges are automatically stopped, and no new financing charges will be applied;
- Creditors are not allowed to contact you or harass you for payments.
- Virtually all types of debt, from credit card debt to payday loans to outstanding income tax balances and student loans can be consolidated with a Consumer Proposal.
- You can pay off your Consumer Proposal early without penalty.
A Sands & Associates Licensed Insolvency Trustee or Estate Manager can help you calculate a Consumer Proposal offer to your creditors that fits your budget.
What Debts Can a Consumer Proposal Consolidate? Learn More
If your financial situation is such that repayment of even 20-30% of your debt over five years is not affordable, you may find personal bankruptcy a more suitable option for dealing with your debt. Although many people worry about the consequences of declaring bankruptcy, the process is very private and often takes just nine months from start to finish.
Does Personal Bankruptcy Forgive All my Debt?
Personal bankruptcy is a legal solution available to help consumers who are struggling to repay their debts. Filing for personal bankruptcy may result in having all your debts forgiven, as there are very few debts that can’t be cleared through bankruptcy.
Bankruptcy is an often-misunderstood process and many people worry about losing their privacy and assets, but in most personal bankruptcies in BC:
- People keep all their assets.
- Only your creditors are notified about your bankruptcy.
- A simple administrative fee is charged (and paid monthly) to complete the bankruptcy;
- A discharge (“release”) from bankruptcy is automatically granted after nine months’
- Individuals reestablish their credit history and score within a year or two after completing bankruptcy.
There are many factors to consider in deciding whether a bankruptcy, Consumer Proposal, or other solution is the best way to deal with your debt. Talk with a local Licensed Insolvency Trustee in your province about your situation – we can help you understand the ins and outs and evaluate which solution would be most appropriate to meet your needs and goals.
What Assets Can I Keep if I Declare Bankruptcy? Learn More
Explore All Your Options in a Free, Confidential Debt Consultation
It’s important that you feel confident and fully informed about the debt-free plan that you choose, and you can do so with the support of a qualified professional. Our Licensed Insolvency Trustees are here to help you understand and explore all your debt options in detail, including, but not limited to:
- Consolidation options, Consumer Proposals, and credit counselling plans
- Personal bankruptcy
- Paying your debt in full
- Various legislation and resources relevant to your situation
We aim to create a comfortable space for you to ask questions and get help with your financial challenges. Taking the time to listen to and understand your concerns is a key focus for us and our goal is that by the end of your consultation any stress you have been feeling about your debt is reduced, and you have a clear understanding of the next steps in your debt-free plan.
A financial fresh start and debt-free future could be closer than you think! Book your free, confidential consultation with Sands & Associates today.