What Does Bankruptcy Mean?
Bankruptcy is a legal option available to you to resolve your debts and achieve a financial fresh start. The option to file for personal bankruptcy is yours – no creditor or other party can prevent you from seeking the protection of Canadian personal bankruptcy legislation.
To file for personal bankruptcy in Canada, you will need to contact a Licensed Insolvency Trustee (formerly known as a Trustee in Bankruptcy) – they are the professionals designated to administer the bankruptcy process. You do not need to engage a bankruptcy lawyer to file personal bankruptcy in British Columbia.
If you are facing financial difficulty, please realize that you are not alone! Over the past 27 years, Sands & Associates has helped tens of thousands of individuals in BC by providing debt relief and helping them achieve a financial fresh start.
Bankruptcy is often very misunderstood for Canadians, with many misconceptions – in reality, bankruptcy in BC is quite a private, straightforward process.
Below is a basic overview of how to declare bankruptcy in Canada.
Filing for Bankruptcy in BC: Step-by-Step
Meet with a Sands & Associates representative for a free consultation.
Complete a detailed application form and meet with us to sign the legal Personal Bankruptcy documents.
Fulfill your Personal Bankruptcy duties.
Your Personal Bankruptcy is complete, achieving full and final settlement of your debts.
You are now debt-free and have achieved a financial fresh start!
Compare key debt help services!

CONSUMER PROPOSAL VS
CREDIT COUNSELLING
CONSUMER PROPOSAL VS
CREDIT COUNSELLING
What’s the difference between Consumer Proposal and traditional credit counselling?
Learn More
BANKRUPTCY VS
CONSUMER PROPOSAL
BANKRUPTCY VS
CONSUMER PROPOSAL
What are the Consumer Proposal pros and cons compared to bankruptcy?

BANKRUPTCY VS
CREDIT COUNSELLING
BANKRUPTCY VS
CREDIT COUNSELLING
What are some advantages of bankruptcy over non-profit credit counselling?
Learn MoreLooking for something specific? Check our FAQs sections for commonly asked questions about Consumer Proposals, Personal Bankruptcy, and Debt Help in BC.
Many people dismiss the possibility of filing for personal bankruptcy in Canada because they have incorrect information about how filing for personal bankruptcy in BC works. Watch a short animated video that addresses some common misunderstandings about bankruptcy in Canada.
Another common concern for people evaluating debt consolidation and other debt management options is that they will not be able to rebuild their credit in future – this is false. Learn about steps you can take to rebuild your credit following a personal bankruptcy or Consumer Proposal, in this brief video.
Dave’s Story – an Independent Film
Sands & Associates partnered with local filmmakers to make an independent film about one person’s journey through bankruptcy. At the age of 39 Dave declared personal bankruptcy; watch Dave’s story progress, from successful lawyer to an individual going deeper and deeper into debt.
Signs of a Serious Debt Problem:
- Making only minimum monthly payments
- Relying on credit to make ends meet
- Considering consolidating debts
- Uncertainty about how much you owe and to who
- Creditors are calling
- Wages or assets are being seized or threatened
If you are struggling with how to get out of debt, please know that you are not alone – real debt solutions do exist and you deserve to live debt-free.
Contact Sands & Associates to meet with a representative in a local office, and find out how you can leave your debt behind.