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Making debt payments month after month can seem never-ending, and being debt-free too far off to imagine. If you’re feeling frustrated with your debt, or as though you’ll never get your debt paid off – know that you are not alone in this, and that debt-free IS possible!

Read on to learn some of the ways being debt-free can change your life, and hear some expert tips to help you get there faster. As Canada’s only licensed debt experts, Licensed Insolvency Trustees help people every day who are looking for debt solutions, and we see many positive changes in our clients once they make the decision to take back control of their debt.

How Is Life Different, Debt-Free?

People often say that knowing what they do now, they wish they hadn’t waited so long to take charge and get help with their debt. Money isn’t the only thing that improves when you’re debt-free – your overall wellbeing can benefit too, including:

  • The weight of debt-stress and worries or anxieties about your debt is lifted.
  • You can stop feeling as though you are being controlled by your debt payments or creditors.
  • Having dealt with your debt for good allows you to stop holding space for the debt and instead have space for your future, in your thoughts, plans and finances.
    • It’s almost impossible to think about your future goals when you’re juggling the financial pressures of daily life plus trying to manage high debt payments.
    • Taking debt out of the equation when you’re budgeting can hugely improve your cash-flow and make goals feel a lot more attainable.
    • Picture what even an extra few (if not several!) hundred dollars could do for you a month.

Facing overwhelming debt can impact people in many negative ways, affecting our physical, emotional, and mental health, and even our relationships with other – and it can be very difficult to see there is light at the end of the tunnel when you’re weighed down by present challenges, or past misconceptions or self-blame.

“Sands & Associates gave me my resilience back. The power to do anything I wanted.” – Meet Barbara

Dealing With Debt

Your debt and the situations that may have caused it do not define you and are often due to circumstances or events outside your personal control. Money problems can happen to anyone at any time, regardless of your personal finances or financial literacy and money skills.

Many people “do all the right things” and still end up struggling financially, needing help to get out of debt – there is no shame in asking for help, you owe it to yourself.

You do have a future, and you are deserving of a fresh start, with life free from debt and its overwhelming stress. Please know that you are not alone – there are many other people facing similar challenges, and better still, there are solutions and professionals here to help you.

8 Things Canadians Should Know About Debt Relief Services

Debt Help Services for BC Consumers

Licensed Insolvency Trustees are Canada’s only debt help practitioners who are regulated and endorsed by the federal government to provide debt help. Sands & Associates is BC’s largest firm of Licensed Insolvency Trustees focused exclusively on debt management services and support for consumers and we offer our full suite of services in-person and online for residents across BC.

  • At Sands & Associates it’s important to provide our expertise and advice in a way that’s clear and actionable, and to treat people with kindness, respect, and empathy always. We appreciate that it can feel overwhelming or intimidating asking for help, especially with such a personal issue.

“Now I can move forward, I no longer have to be afraid.” – Meet Marsha

Whether you know you have a debt problem or you’re hoping to find more effective ways of paying off debt, the best place to turn for debt advice is a Licensed Insolvency Trustee. Working with a Licensed Insolvency Trustee you can count on having a free, confidential consultation where you can get accurate professional advice, and an impartial representative that will help you weigh your full range of options. No referral or special qualifiers are needed – you can simply call or connect directly.

“…it’s all attainable now – I wish I’d gone to Sands & Associates years ago.” – Meet Dan

Clear Debt with a Consumer Proposal

Many people who first contact a Licensed Insolvency Trustee believe that when they’re in debt and need a solution their only option is personal bankruptcy – but this is not the case. While we can provide bankruptcy solutions, most people are able to avoid bankruptcy and reduce their debt with a non-borrowing consolidation option called a Consumer Proposal.

  • Consumer Proposals allow you to combine and manage all your debt in one interest-free consolidation where you offer to repay an affordable amount of your debt over a period of up to five years. Your creditors will agree to forgive the unpaid portion and consider your debt paid in full.
    • Most people repay as little as 20-50% of their total debt with monthly payments.
  • You can include virtually every kind of debt, including but not limited to credit cards, overdrafts, payday loans, lines of credit, government debts such as CERB overpayments, tax debts, student loans and more.
    • Besides bankruptcy, a Consumer Proposal is the only method of reducing and forgiving debt that the government will accept.

10 Facts You Should Know About Consumer Proposals

Consumer Proposals are Canada’s number one alternative to bankruptcy and can have many advantages over other solutions like consolidation loans and credit counselling programs. For example:

  • The dual advantage of cutting debt and stopping interest makes the monthly payments in a Consumer Proposal often the lowest among debt management options.
  • You’ll gain breathing room and legal protection from your creditors.
  • With personal one-on-one financial counselling included in the process, you’ll have the opportunity to gain more confidence in financial literacy skills, improving your ability to control and manage your daily financial affairs, as well as gaining a better understanding credit and borrowing.
    • Many people also say they are more open in discussing money matters and even sharing their financial skills and knowledge with others after their experience working with a Licensed Insolvency Trustee.

We help with debt so you can move forward with your life; whether you need a total financial fresh start, debt forgiveness and creditor protection, or reorganization and structure to pay off your debt – we’re here for you.

Ready to get working on your debt-free future? Book your free, non-judgmental consultation today and connect with a caring local Sands & Associates debt expert.