A multi-year Consumer Choice Award winner in business excellence, Sands & Associates has been helping people in BC become debt-free since 1990. Sands & Associates sets itself apart by offering debt management services with an approach that emphasizes support, kindness and non-judgmental guidance and is pleased to now be able to provide these services locally to the residents of Squamish and the surrounding communities.

Debt help services in regions across BC are conveniently available via telephone or online video conferencing. Request your confidential free debt consultation here.

Debt Help and Bankruptcy Services in BC

If you are facing a difficult financial situation or managing your debt has become a priority, there can be a lot of self-pressure to take action right away once you have made the decision to find a solution to address your debts. Although there are many debt management providers operating within BC and across Canada, it is vital to understand that in Canada there is only one professional fully designated, empowered and endorsed by the Federal Government to help individuals and businesses deal with debts – a Licensed Insolvency Trustee.

Real Stories: Meet some of the people who lives were changed working with Sands & Associates

When you connect with Sands & Associates, we will work to understand your unique needs and circumstances so we can help you evaluate all of the options available to help you resolve your debt-related challenges. These may include, but are not limited to:

• Exploring your legal rights and remedies when it comes to your specific debts
  • Whether or not a debt is “collectable”
• Resources you may be able to access if you cannot pay a debt
• Debt settlement and credit counselling plans
• Debt consolidation options
  • Navigating traditional borrowing consolidation solutions
  • Non-borrowing consolidation (Consumer Proposals)
• Filing bankruptcy (personal bankruptcy and business bankruptcy)

If your situation is urgent, for example where there is a pending garnishment or wage seizure, processes such as a Consumer Proposal or bankruptcy that will halt creditor action can be implemented to secure protection from creditors for you very quickly.

How Does a Consumer Proposal Work?

Bankruptcy is not the only legal debt solution available in BC that can successfully address a debt problem. Consumer Proposals are an increasingly popular alternative to traditional debt consolidation and more people in BC are choosing to file Consumer Proposals than ever before, far outpacing personal bankruptcy filings.

• A Consumer Proposal is a unique debt consolidation tool you can access only by working with a Licensed Insolvency Trustee
• Filing a Consumer Proposal consolidates your debt without borrowing, interest charges or additional administration fees and offers to repay the portion of your total debt you can afford
  • Consumer Proposal offers are almost always accepted by creditors and may reduce your debts by as much as 50-80%
  • Making a Consumer Proposal is not the same as filing bankruptcy
• Virtually all types of debt can be consolidated in a Consumer Proposal, including government debts like taxes and student loans
• Collection activities and legal actions creditors may be taking or threatening to take must cease upon filing your Consumer Proposal. By law creditors must stop contacting you for payment and charging interest and court proceedings against you to recover debts are halted.
• There is no cost or commitment required to discuss the pros and cons of making a Consumer Proposal with a Licensed Insolvency Trustee.

Sands & Associates offers its full-suite of Consumer Proposal services online, so you can even access this powerful debt consolidation option without having to leave the comfort and privacy of your home.

How do Consumer Proposals Compare to Consolidation Loans? Learn More

Free Professional Debt Advice

Many people feel deeply embarrassed or ashamed when they are dealing with a debt problem, and the idea of discussing your personal finances with a professional may feel overwhelming. Money problems can happen to anyone at any time, and as Licensed Insolvency Trustees we are keenly aware of how severely financial stress can impact your life, including your health and relationships. Know that you are not alone – we are here to help you, without judgment!

A confidential free debt consultation is the best place to start if you have questions about how to deal with your debt, aren’t sure what your options are, or simply need debt help.

• Confidential consultations can take place one-on-one, or with your spouse or other close support person
• All required steps from consultation to document signing may be done from the comfort and privacy of your home using phone or video conferencing and online document signing
• There is no cost for a debt consultation and assessment of your options and no referral is needed to meet with a Licensed Insolvency Trustee
• You are under no obligation to commit to any process or continue working with a Licensed Insolvency Trustee

Once you have had the opportunity to assess all your potential options you will be in the best position to decide how you want to move forward, fully informed.

The dedicated professionals at Sands & Associates are committed to providing expert knowledge and meaningful supportive solutions to help you take back control. It could take less than an hour to get a debt-free plan that will change your life.

What would your life look like without debt? Find out – book your free debt consultation now.

The post Office Spotlight: Sands & Associates Squamish appeared first on Sands & Associates.

Founded in 1990, Sands & Associates is British Columbia’s largest firm of Licensed Insolvency Trustees exclusively focused on supporting consumers across the province with debt solutions and resources. With a caring team of qualified debt experts, we have the knowledge, skills, and ‘debt smart with heart’ approach to help you move forward with your life – without debt.

• Sands & Associates’ Surrey office offers individuals the opportunity to get confidential debt advice from a trustworthy expert in a safe, non-judgmental space.
  • Consumers across BC can also access Sands & Associates’ personal debt help services remotely seven days a week with telephone and online options.

Talk with a local debt expert about your options – book your free, confidential debt consultation now.

Debt Relief in Canada 

If you’ve found yourself having difficulty making your monthly debt payments or are feeling stuck, unable to effectively pay down your debts, you have two powerful options that can safely provide you debt relief and breathing room.

Both of these solutions can be accessed through a local Licensed Insolvency Trustee based in your province and no referral is required to explore these and other options and resources you have available to you.

Consolidate and Cut Debt with a Consumer Proposal 

A Consumer Proposal is a unique debt solution in Canada that can be a very effective solution for individuals seeking debt relief. Here’s how it works:

• Your debts will be consolidated into a single repayment agreement where your creditors will agree to accept repayment of only the portion of your debt that you can reasonably afford to repay over a period of up to five years. At the end of the Consumer Proposal the unpaid account balances will be considered forgiven.
  • Consumer Proposals can consolidate virtually all types of debts, including (but not limited to): credit cards, payday loans, lines of credit, income tax and GST/HST balances, student loans, mortgage and vehicle loan shortfalls.
  • If you have an ongoing mortgage or vehicle financing in place you can choose to continue with these agreements that are in good standing outside of your Consumer Proposal.
• Consumer Proposals are often successful in reducing your debt by as much as 50-80% of the balance due. Debts are ‘frozen’ when your Consumer Proposal begins and there are absolutely no future interest or financing charges allowed after the date of the Proposal.

A Consumer Proposal can only be filed for you by a Licensed Insolvency Trustee, and there are no additional professional fees added to the amount you pay each month; the administration costs are essentially absorbed by your creditors, at no cost to you.

Consumer Proposals are easy to qualify for, with no credit check requirements, making them a highly accessible, and often significantly less expensive, alternative to consolidation loans.

Learn More About How to Qualify for a Consumer Proposal 

Clear Debt with Personal Bankruptcy 

For individuals who are facing additional hardships or situations that make it difficult to afford repayment of even a portion of their debts, personal bankruptcy is another legal solution that can help clear all your debts.

• Personal bankruptcy can include common debts such as credit cards, lines of credit, Canada Revenue Agency debts, payday loans, money owing to another individual and more.
• Typically, an individual is only “in bankruptcy” for nine months, after which time they receive a discharge (release) from bankruptcy and can move forward free from unmanageable debt.
• In Canada personal bankruptcy is generally considered to be a straight-forward and private process, and most people will keep all of their assets.

If you are unable to pay your debts bankruptcy may offer you a suitable solution to have your debts forgiven, and the cost of filing for bankruptcy is generally broken into affordable monthly payments throughout the nine-month process.

Connect directly with a Licensed Insolvency Trustee in your province to learn more about how bankruptcy works and whether this may be your best debt option. It’s important to understand all of your options and make an informed decision about how you want to move forward.

Do I Qualify for Personal Bankruptcy? Learn More

Free, Confidential Debt Advice in BC 

Licensed Insolvency Trustees are federally regulated debt management professionals, uniquely qualified to help you explore your rights, remedies, and resources to deal with your debt. When you need debt advice call a Licensed Insolvency Trustee in your province for guidance.

At Sands & Associates our goal is that by the end of your first meeting you will have the information you need to decide how you want to move forward, with a clear outline of the next steps in your debt-free plan. You are not alone in dealing with a debt problem, we’re here for you!

Your financial fresh start might be closer than you think – book your free debt consultation today to learn about your options and get your debt-free plan.

The post Office Spotlight: Sands & Associates Surrey appeared first on Sands & Associates.

Sands & Associates, BC’s largest firm of Licensed Insolvency Trustees, released the results of their fifth annual BC Consumer Debt Study today.  The 2017 BC Consumer Debt Study provides an in-depth look at consumers’ debt levels, the factors causing individuals’ financial difficulties, with additional insights into the psychological and physical impacts of debt on consumers.

To view the complete study and detailed report, please click here.

The 2017 BC Consumer Debt Study highlighted several findings, including:

• The largest proportion of survey respondents carried between $25,000 and $49,999 worth of unsecured debt (excluding vehicle loans and mortgages) at the time they sought assistance for their debts.
• Only making minimum payments, and/or accumulating more debt were the top two warning signs that made respondents realize their debts were becoming a problem.
• More than half of participants (53%) stated that they cut expenses as a measure to deal with their debts; one in four individuals attempted to reduce their housing costs or rent.
• When asked how often they found themselves worrying about debts or general finances, 63% of those surveyed said “the worry was constant”.
• Virtually all participants (97%) reported that their debts caused them to experience some type of ill-effect symptom, including general sadness, discouragement, fear, panic, anxiety.
• Over one-quarter (28%) of overall survey participants said that they suffered from diagnosed depression, contributed to by being in debt.
• More than 1 in 6 respondents (18%) said their financial difficulties caused them to experience feelings of suicide, or contemplate suicide as a solution. This was the highest amongst the “Youth Generation”, with more than 20% of respondents aged 30 or younger experiencing these sentiments.

Licensed Insolvency Trustee and Vice-President of Sands & Associates, Blair Mantin, notes: “One of the starkest findings of this study is the real cost of debt to a person’s well-being.  To have one-fifth of our youngest demographic having feelings of suicide as a solution to their financial situation is truly alarming.  We need to stop pointing fingers and shaming people about their debts – it’s time for a real conversation about debt, its impact, and the solutions that exist”.

Mantin adds, “People are often more comfortable discussing nearly any other personal topic besides their finances, consequently there is a sort of myth that having debt is a sign of failure, when it is often a fact of life in the world we live in.  We need to continue to expand dialogues surrounding consumer debt issues and their direct impact on mental health.”

The 2017 BC Consumer Debt Study by Sands & Associates is the only BC-specific study to gather and analyze responses from over 1,300 individuals throughout the province, to take a closer look at the financial challenges faced, strategies adopted, and consequential symptoms experienced by indebted British Columbians.

Sands & Associates 2017 BC Consumer Debt Study Infographic (Click to enlarge)

Click here to read the full report in PDF format.

About Sands & Associates:

With over 30 years of experience helping BC residents with debt solutions, Sands & Associates is British Columbia’s largest firm of Licensed Insolvency Trustees, focused exclusively on helping individuals and small businesses solve their financial problems.  A multi-year Consumer Choice Award winner now operating from a network of local offices throughout the province, Sands & Associates uses an empathetic, non-judgmental approach to help consumers resolve financial difficulties.

The post Sands & Associates Releases Fifth Annual BC Consumer Debt Study appeared first on Sands & Associates.

The 2014 study by Sands & Associates is the only BC-specific study to gather and analyze responses from nearly 900 individuals throughout the province to take an in-depth look at consumers’ debts, the factors causing their financial difficulties, strategies used to resolve debts and the level of knowledge consumers have regarding their debt restructuring options.

Click here to read the full report in PDF format.

The 2014 BC Consumer Debt Study highlighted the following trends:

• Overextension of credit and financial mismanagement was cited as the number-one primary cause of financial difficulties.
• Nearly 65% of respondents indicated that making only the minimum payments on debts was the trigger for them to conclude their debts were becoming a problem.
• 12% of individuals were charged a fee to meet with a debt solution provider other than a licensed Trustee – of this 12%, fees of $1,000 or more were charged to nearly one-quarter of respondents.
• 57% of participants felt they had a good or excellent grasp of financial skills and concepts, however, only 3% correctly answered a series of questions relating to knowledge of debt and debt solutions.  Of that 3%, all had previously filed a Personal Bankruptcy or Consumer Proposal.

As debt levels continue to rise among Canadians, concerns among industry professionals surrounding consumers’ debt knowledge and understanding have also increased.  British Columbia residents continue to remain particularly vulnerable due to a lack of both awareness, and regulation surrounding non-legislative debt settlement options.

Blair Mantin, Vice-President of Sands & Associates offers further insights, “The high cost of living in BC’s lower mainland combined with attempting to service debt at unmanageable levels often leaves people reaching out for solutions in the wrong ways.  The need for consumers to become better educated when it comes to debt management tools and identifying warning signs that could reduce their personal distress and financial difficulties is very real.  Too many British Columbians are driving blind when it comes to debt.”

Mantin urges consumers to take a closer look at their finances, if your debt payments are higher than roughly ten percent of your monthly take-home pay, you should investigate whether professional debt assistance is necessary.  He invites individuals with further questions or need of an assessment of their available options to contact Sands & Associates for a free, confidential consultation.

Click here to read the full report in PDF format.

About Sands & Associates:

Celebrating 30 years providing debt solutions, Sands & Associates is British Columbia’s largest firm of licensed Credit Counsellors, Proposal Administrators and Bankruptcy Trustees, focused exclusively on personal and small business insolvency services.  Currently operating from offices throughout British Columbia, Sands & Associates uses a non-judgmental, empathetic approaching to helping resolve financial difficulties and has been recognized as a multi-year Consumer Choice Award winner.

The post Sands & Associates Releases Third Annual BC Consumer Debt Study appeared first on Sands & Associates.