Debt Consolidation & Counselling Archives

What is a Licensed Insolvency Trustee?

Sep 10, 2021

Although tens of thousands of Canadians proceed with formal debt solutions each year, many others who struggle with financial challenges don’t know where to turn for support when it comes to dealing with debt. It is important for consumers to not only be...Read more

Shopping Around to Find Your Best Debt Solution? Here’s What to Consider

Aug 9, 2021

Taking time to research and compare your options can be a sound strategy in many financial situations - from major purchases to borrowing to retirement planning, and, of course, when it comes to seeking a solution to help better manage your debt. The...Read more

How to Better Manage Credit and Debt, and Mistakes Not to Make

Jul 19, 2021

Whether your goal is to establish a good credit history, pay off your debt or boost your credit score, there are many aspects of credit ratings that are misunderstood by Canadians. More importantly, sometimes the actions we think are correct in managing our...Read more

What You Should Know About Co-Signing Debts

Apr 19, 2021

Whether you are considering co-signing a loan with your child, signing up for a joint credit card with your spouse or even signing on to help out a close friend – when it comes to co-signed debt consumers need to be aware of the commitments and...Read more

“It’s All Relative”: Understanding Debt Liability for Couples & Families

Mar 22, 2021

As Licensed Insolvency Trustees it’s common for us to hear from people who are concerned about someone else’s debt problem, or how their own challenges with debt might impact someone else. We often address questions from children worried about their...Read more

How do Consumer Proposals Compare to Debt Consolidation Loans?

Nov 16, 2020

Consumer Proposals are an increasingly popular choice for Canadians seeking to better manage their debts. Known for affordable monthly payments and flexibility, a Consumer Proposal can have many benefits over choosing to consolidate debt with a consolidation...Read more

3 Things You Should Know About Debt Consolidation

Oct 6, 2020

Debt consolidation is often one of the first options people consider when facing debt management decisions, especially for dealing with credit card debt. Many consumers aim for a consolidation to simplify monthly payments, and hopefully even lower the monthly...Read more

BC Consumer Debt Help: Do You Know Your Consolidation Options?

Sep 28, 2020

In the most recent annual BC Consumer Debt Study undertaken by Sands & Associates, roughly 30% of indebted consumers polled said they waited to seek professional debt help because they didn’t know where to seek it – and over 35% of people who later...Read more

Small Business Debt – Basics, Challenges & Solutions

Jun 19, 2020

In BC virtually anyone can become self-employed and take a shot at being their own boss – unfortunately, there’s no handbook explaining the financial ins and outs. Given the difficulties of starting and maintaining a successful business, it’s no...Read more

Debt Management Tips to Help Navigate the COVID-19 Crisis

Apr 3, 2020

As Licensed Insolvency Trustees serving the entire province, the debt help experts at Sands & Associates are no strangers to assisting individuals and businesses in overcoming challenging financial situations – we aid thousands of BC residents each year...Read more

The Truth About Legal Debt Help Options – Myths Debunked

Feb 26, 2020

As a licensed debt help professional, some of the saddest words Licensed Insolvency Trustee Blair Mantin hears are “I didn’t know I had any options”. Like many complex areas of consumer legislation and laws – what you don’t know can hurt...Read more

What’s the Difference Between Credit Counselling and Consumer Proposals?

Dec 5, 2019

At a first glance credit counselling programs and Consumer Proposals may sound much the same. Although there are some similarities between these two debt consolidation options, there are also some key differences to understand. Read on for an overview and...Read more

Paying Off Credit Card Debt – 3 Problems to Avoid

Nov 19, 2019

With over 75 million credit cards in circulation across the country, it’s clear that the average Canadian is enjoying the convenience of credit card use - unfortunately that convenience can come at a big cost. Vancouver-based Licensed Insolvency Trustee...Read more

How Does a Licensed Insolvency Trustee Get Paid?

Sep 11, 2019

If you’ve been considering debt management solutions, you’ve likely discovered that there are several options available. You may also have learned that in Canada only one type of debt help professional is legally empowered and endorsed by the federal...Read more

4 Ways to Pay Off Credit Card Debts

Aug 19, 2019

With every major bank and big retailer offering consumers a credit card, it’s no surprise that most Canadians have at least one credit card in their wallet. While credit cards can be convenient, not paying your balance in full each month can accumulate a...Read more

An Overview of Wage Garnishment in BC

Jun 24, 2019

Wage garnishments or seizures are an extreme collection method that creditors may use to recover money owed to them. Facing a wage garnishment can be incredibly stressful and overwhelming, and many people don’t know what their rights and remedies are in the...Read more

What You Need to Know Before Consolidating Debt

Jun 10, 2019

First off – what do we mean by ‘debt consolidation’? Debt consolidation is a term that you hear a lot, and it typically means that you combine all of your debt into a single monthly payment, rather than paying each of your debts separately each month....Read more

Comparing 5 Debt Solutions – Pros and Cons to Consider

Apr 15, 2019

Every day Licensed Insolvency Trustees help individuals and businesses assess their debt options. We understand that most people feel stressed and pressured to find a solution, and often don’t know where to start evaluating or even what their options might...Read more

Why Financial Advisors Need to Know a Debt Expert

Feb 21, 2019

“Knowing is not owing” isn’t just good advice for those in debt; if you’re a specialist in the financial industry, here’s why you should have a Licensed Insolvency Trustee (formerly called Bankruptcy Trustees) within your professional...Read more

What’s the Difference Between Credit Counselling and Debt Consolidation?

Feb 11, 2019

One of the first debt management tools most people research is a debt consolidation loan. Another debt solution that is a type of debt consolidation is a credit counselling program, often known as a Debt Management Plan (“DMP”). Although both options can...Read more

What’s the Difference Between Credit Counselling and Bankruptcy?

Nov 5, 2018

This installment in Sands & Associates’ “Ask a Licensed Insolvency Trustee” series compares some of the main differences between credit counselling programs and personal bankruptcy. Q: What’s the difference between credit counselling and...Read more

What’s the Difference Between Consumer Proposals and Bankruptcy?

Sep 24, 2018

This month’s edition of Sands & Associates’ “Ask a Licensed Insolvency Trustee” series breaks down three key differences in bankruptcy versus Consumer Proposal. Q: What’s the difference between Consumer Proposals and bankruptcy? Although they...Read more

4 Times Bankruptcy may be a Better Debt Solution than a Consolidation Loan

Sep 4, 2018

Many people considering debt restructuring first turn to debt consolidation loans and think of personal bankruptcy as a ‘last resort’. Here are four types of situations where filing a personal bankruptcy can actually be a better solution than a...Read more

How Much Does it Cost to File a Consumer Proposal?

Aug 20, 2018

Ask a Licensed Insolvency Trustee! Award-winning BC Licensed Insolvency Trustees Sands & Associates answers questions about debt help, including personal bankruptcy and Consumer Proposals. Q: How much does it cost to file a Consumer Proposal? A: The...Read more

What Debts will a Consumer Proposal Settle?

Aug 13, 2018

Many people don’t know that they can consolidate almost all their debts in a Consumer Proposal. Unlike traditional or non-profit credit counselling programs, Consumer Proposals can even be used to deal with debt owing to Canada Revenue Agency (CRA),...Read more

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