Licensed Insolvency Trustee Blair Mantin answers your questions about how to manage debts, including options such as Credit Counselling, Consumer Proposals and Bankruptcy in BC!
Q: Can a Licensed Insolvency Trustee help with government debts?
A: Absolutely! Many people are surprised to learn that besides a bankruptcy, a Consumer Proposal is the only mechanism in Canada that can be used to reduce or eliminate government debts such as income tax debt, GST debt and student loans. Other debts such as ICBC debt and MSP debt can also be resolved using a Consumer Proposal or personal bankruptcy.
Additionally, both will also halt all collection attempts, including wage garnishments and bank account seizures – and interest is frozen by law.
It’s important to know that Licensed Insolvency Trustees are the only people legally empowered to provide these options in Canada. No referral is required and confidential consultations are always free of charge.