BC Licensed Insolvency Trustees Sands & Associates answers your questions about how to get out of debt using options such as debt consolidation, Consumer Proposals, and personal bankruptcy:
Q: What kind of debt can a Licensed Insolvency Trustee help with?
A: Either filing a personal bankruptcy, or a Consumer Proposal with a Licensed Insolvency Trustee can eliminate virtually all types of debt.
Below is a basic list of some common types of debt that a Licensed Insolvency Trustee can help you with. If you don’t see your specific debt listed below, we may still be able to help you:
- Credit Card Debt
- Lines of Credit/Overdraft
- Payday Loans
- Canada Revenue Agency Debt (including Income Tax, GST, Source Deductions, etc)
- Federal and Provincial Student Loans
- Foreclosure Shortfalls
- Vehicle Lease Shortfalls
- ICBC Debt
- MSP Debt
It’s important to know that a Consumer Proposal can only be filed by a Licensed Insolvency Trustee. Traditional credit counselling or other debt settlement offers may sound similar, but they are not the same thing, nor are they able to deal with government debts, such as student loans or tax debts. In Canada, only a Licensed Insolvency Trustee has the legal authority to help you file a personal bankruptcy – no referral is needed.
Licensed Insolvency Trustees (formerly known as Bankruptcy Trustees) are experts in Consumer Proposals, bankruptcy and debt consolidation services. Meet with a Sands & Associates Licensed Insolvency Trustee in BC to find out how we can help you get out of debt, and get a financial fresh start. Book your free confidential debt consultation today!