Sands & Associates Live – Your Questions Answered!

Dec 5, 2016
Vice-President of Sands & Associates and Licensed Insolvency Trustee Blair Mantin was recently broadcasting live to answer viewers’ questions and explain some of the general ins and outs about how Licensed Insolvency Trustees can help people achieve a...Read more

Metro in Debt: More from The Vancouver Sun

Nov 30, 2016
The Vancouver Sun newspaper continued its “Metro in Debt” series with a closer look at some of the options Canadians pursue when it comes to debt help.  With Canadians owing a record-high amount of combined mortgage and consumer debt, experts say the...Read more

Blair Mantin on CTV News at Noon: “Top 4 Financial Myths and Misconceptions”

Nov 28, 2016
Sands & Associates Vice-President and Licensed Insolvency Trustee Blair Mantin appeared on CTV Vancouver’s ‘News at Noon’ segment last week. This episode focuses on financial myths and misconceptions that end up costing consumers money.  Blair...Read more

CTV News at Noon: Financial Myths and Misconceptions

Nov 21, 2016
Vice-President of Sands & Associates and Licensed Insolvency Trustee Blair Mantin was a guest on CTV Vancouver’s ‘News at Noon’ today.  As November is Financial Literacy Month in Canada, this afternoon Blair shared his top 4  financial myths and...Read more

Metro in Debt: Blair Mantin featured in The Province Newspaper

The Province newspaper reported on a recent study conducted by a non-profit group, determining the most indebted areas in Metro Vancouver.  The Social Planning and Research Council of BC study comes amidst repeated warnings over household debts and continued...Read more
Are creditors harassing you? Are the endless phone calls and collection letters causing you stress? Are you living on your credit cards? Are you unable to maintain your minimum payments? Are you being pursued for government debt? If you answered "yes" to any of these questions, you are not alone. In the twelve-month period ending July 2016, more than 66,000 Canadians were in the same financial position and found relief by seeing a Licensed Insolvency Trustee and filing personal bankruptcy. Another 57,000 Canadians settled their debt management problems by filing a consumer proposal.

If you are not a resident of British Columbia, more information is available about bankruptcy in Canada.

No matter what the cause of your financial difficulties, the Bankruptcy and Insolvency Act does not restrict a person from filing personal bankruptcy or making a consumer proposal. For example, you could be in financial trouble due to the loss of employment, a divorce, a leaky condo, medical problems, gambling, substance abuse, or poor money management. Regardless of the reason, filing personal bankruptcy or making a consumer proposal to your creditors is based upon your unique individual circumstances and is ultimately your personal decision. In BC, both of these remedies can only be filed by utilizing the services of Licensed Insolvency Trustees. At Sands & Associates, our Licensed Insolvency Trustees understand that most people file into bankruptcy or make a consumer proposal to creditors because of unfortunate circumstances, and we will guide you through this difficult time. 

Personal bankruptcy or a consumer proposal to creditors can provide shelter from the financial storm. Each will stop virtually all legal proceedings, garnishees, and phone calls from your creditors. These legal remedies provide a fresh start by pardoning your debts including credit card debts, lines of credit, legal bills, utility bills, medical bills, automobile insurance, judgments, government debts, etc. A Licensed Insolvency Trustee can help you understand the relative merits of each of these debt management options within BC. 

At Sands & Associates, we make filing personal bankruptcy or making a consumer proposal to creditors simple. We will arrange for a free initial consultation with one of our knowledgeable staff to discuss your financial status, and help you to determine whether bankruptcy or a proposal to creditors is the right choice for you.

Should you choose to file personal bankruptcy or make a consumer proposal to your creditors, we will process the necessary paperwork, arrange for possible meetings with creditors, provide two credit counselling sessions at our convenient offices located in Vancouver, Burnaby, New Westminster, Richmond, Surrey, Langley, Coquitlam, Maple Ridge, White Rock, Abbotsford, Chilliwack, Victoria, Nanaimo, Kamloops and Kelowna. 

After you have filed personal bankruptcy or a consumer proposal, you are required to perform your duties as outlined in the Bankruptcy and Insolvency Act. Some of the duties in a personal bankruptcy include keeping the Licensed Insolvency Trustee informed of your current address, declaring your monthly income and expenses for a minimum of nine months, attending two credit counselling sessions, and paying the Licensed Insolvency Trustee an amount that is dependent upon your income and the assets that you own. 

If this is your first personal bankruptcy, the earliest that you will be eligible for your discharge is nine months after your date of filing. A discharge from bankruptcy means that your debts will be eliminated and your creditors can no longer pursue you for the outstanding amount owed. It provides peace of mind and a chance for a fresh financial start. 

If you choose to make a consumer proposal to your creditors and if the creditors and the court accept it, the contract is binding between you and the creditors. A certificate of completion, which discharges your indebtedness, will be given as long as you meet the terms of the contract and remit the appropriate funds or assets to the Licensed Insolvency Trustee.