How Much Does it Cost to File a Bankruptcy?

May 9, 2016
It’s no surprise that often the first question people considering bankruptcy ask Licensed Insolvency Trustees is “How much does a bankruptcy cost?”.  Because of the legislation that sets out the rules and regulations around bankruptcy, the answer...Read more

Bankruptcy Is Not Your Only Option!

May 2, 2016
Bankruptcy is not your only debt resolution option.  A Consumer Proposal is the most powerful and least well-known debt solution. Speak with a Licensed Insolvency Trustee to find out if a Consumer Proposal is the best way for you to get back on track!...Read more

Ask the Trustee – April Edition

Apr 25, 2016
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: What happens in a personal bankruptcy? A: In general, a personal...Read more

Vancouver Sun Editorial: “Ignorance rife when dealing with debt”

Apr 18, 2016
A recent editorial from the Vancouver Sun newspaper highlighted several current financial issues which are continuing to affect British Columbia residents.  The editorial focused on trends revealed by Sands & Associates’ BC Consumer Debt Study.  The...Read more

Announcement: Licensed Insolvency Trustees – New Name, Same Amazing Service

Apr 11, 2016
Late in 2015, the Office of the Superintendent of Bankruptcy (OSB) announced upcoming changes to the insolvency professional designation throughout Canada.  Effective April 1st, professionals formerly designated as Insolvency or Bankruptcy Trustees are now...Read more

BC’s Indebtedness – The Vancouver Sun reports

Apr 4, 2016
The Vancouver Sun newspaper recently focused on the state of BC consumers’ debts, highlighted in Sands & Associates’ newly released BC Consumer Debt Study.  The debt study suggested that many British Columbians should be seeking financial assistance...Read more

Why do People File for Bankruptcy?

Mar 29, 2016
People often think that debt problems generally stem from poor budgeting or a tendency to overspend.  The reality is that some of the most frequent leading factors that cause people to file a personal bankruptcy or consumer proposal are actually job loss or...Read more

Sands & Associates Releases Fourth Annual BC Consumer Debt Study

Mar 21, 2016
VANCOUVER, BRITISH COLUMBIA – March 21, 2016 Sands & Associates, BC’s largest firm of Credit Counsellors and Licensed Insolvency Trustees released results of their fourth annual BC Consumer Debt Study today.  The 2016 BC Consumer Debt Study...Read more

Ask the Trustee – March Edition

Mar 14, 2016
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: What happens in the Consumer Proposal process? A: To find out if a...Read more

How to Have a Stress-Free Tax Season

Mar 7, 2016
One of the two certainties of life is an annual event that can leave more than a few people feeling stressed.  Read on for our tips on how to navigate through this year's tax season. Pre-filing - Keys to Minimize Tax Stress Keeping a list of documents...Read more

5 Easy Ways to Avoid Spending Money

Feb 29, 2016
Whether or not you can afford it, sometimes spending can get out of hand. Spending issues don’t tend to go away on their own and left unattended can create big problems with debt. If you find that avoiding the urge to spend money is a particularly difficult...Read more

Ask the Trustee – February Edition

Feb 22, 2016
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: Will I be affected if my spouse files for bankruptcy? A: One person...Read more

New Mortgage Rules Too Late for Metro Vancouver ? – The Province Reports

Feb 15, 2016
New federal mortgage rules take effect today, adding another layer to the Vancouver housing market discussions.  The Central Mortgage and Housing Corporation now requires a 10% down payment on the portion of mortgages it insures over $500,000.  Licensed...Read more

Blair Mantin shares Debt Solutions on CTV Morning Live

Feb 10, 2016
Sands & Associates Vice-President and Licensed Insolvency Trustee, Blair Mantin appeared recently on Vancouver’s CTV Morning Live  segment to share insights into solutions BC residents have available to them, in the event they find themselves facing...Read more

Financial Tips for a Sweet Valentine’s Day

Feb 1, 2016
Let cupid aim at your heart, not your wallet! Click the infographic to enlarge. To meet with a representative for a free, confidential consultation in one of our 15 BC offices, please contact...Read more

Ask the Trustee – January Edition

Jan 25, 2016
Licensed trustee Blair Mantin answers your questions about how to manage debts, including options such as Credit Counselling, Consumer Proposals and Bankruptcy in BC!  Q: What should people do first when they find themselves overwhelmed by debt? A: ...Read more

Sands & Associates Receives Consumer Choice Award

Jan 18, 2016
Sands & Associates is pleased to announce that we have been selected as the Consumer Choice Award winner for the fourth consecutive year, in the category of Bankruptcy Trustees in British Columbia’s lower mainland. Consumer Choice Award was...Read more

Blair Mantin Debunks Bankruptcy Myths on CTV Morning Live

Jan 11, 2016
Sands & Associates Vice-President and Licensed Insolvency Trustee Blair Mantin appeared as a guest on Vancouver’s CTV Morning Live segment last week, debunking some common myths around bankruptcy. As Blair explains, quite often misgivings about...Read more

A 4-Step Kick-Start for your New Year Finances

Jan 4, 2016
Check out our newest infographic - A 4-Step Kick-Start for your New Year Finances! Click the infographic to enlarge. To meet with a representative for a free, confidential consultation in one of our 15 BC offices, please contact...Read more

Vancouver Real Estate Debate – The Province Reports

Dec 22, 2015
Ever a hot-topic, the speculation over Metro Vancouver’s real estate market is sure to carry into 2016.  As CMHC tightens rules around down payments required, housing prices continue to soar in Vancouver – as do Canadian debt levels. Recent reports...Read more
Are creditors harassing you? Are the endless phone calls and collection letters causing you stress? Are you living on your credit cards? Are you unable to maintain your minimum payments? Are you being pursued for government debt? If you answered "yes" to any of these questions, you are not alone. In the twelve-month period ending July 2016, more than 66,000 Canadians were in the same financial position and found relief by seeing a Licensed Insolvency Trustee and filing personal bankruptcy. Another 57,000 Canadians settled their debt management problems by filing a consumer proposal.

If you are not a resident of British Columbia, more information is available about bankruptcy in Canada.

No matter what the cause of your financial difficulties, the Bankruptcy and Insolvency Act does not restrict a person from filing personal bankruptcy or making a consumer proposal. For example, you could be in financial trouble due to the loss of employment, a divorce, a leaky condo, medical problems, gambling, substance abuse, or poor money management. Regardless of the reason, filing personal bankruptcy or making a consumer proposal to your creditors is based upon your unique individual circumstances and is ultimately your personal decision. In BC, both of these remedies can only be filed by utilizing the services of Licensed Insolvency Trustees. At Sands & Associates, our Licensed Insolvency Trustees understand that most people file into bankruptcy or make a consumer proposal to creditors because of unfortunate circumstances, and we will guide you through this difficult time. 

Personal bankruptcy or a consumer proposal to creditors can provide shelter from the financial storm. Each will stop virtually all legal proceedings, garnishees, and phone calls from your creditors. These legal remedies provide a fresh start by pardoning your debts including credit card debts, lines of credit, legal bills, utility bills, medical bills, automobile insurance, judgments, government debts, etc. A Licensed Insolvency Trustee can help you understand the relative merits of each of these debt management options within BC. 

At Sands & Associates, we make filing personal bankruptcy or making a consumer proposal to creditors simple. We will arrange for a free initial consultation with one of our knowledgeable staff to discuss your financial status, and help you to determine whether bankruptcy or a proposal to creditors is the right choice for you.

Should you choose to file personal bankruptcy or make a consumer proposal to your creditors, we will process the necessary paperwork, arrange for possible meetings with creditors, provide two credit counselling sessions at our convenient offices located in Vancouver, Burnaby, New Westminster, Richmond, Surrey, Langley, Coquitlam, Maple Ridge, White Rock, Abbotsford, Chilliwack, Victoria, Nanaimo, Kamloops and Kelowna. 

After you have filed personal bankruptcy or a consumer proposal, you are required to perform your duties as outlined in the Bankruptcy and Insolvency Act. Some of the duties in a personal bankruptcy include keeping the Licensed Insolvency Trustee informed of your current address, declaring your monthly income and expenses for a minimum of nine months, attending two credit counselling sessions, and paying the Licensed Insolvency Trustee an amount that is dependent upon your income and the assets that you own. 

If this is your first personal bankruptcy, the earliest that you will be eligible for your discharge is nine months after your date of filing. A discharge from bankruptcy means that your debts will be eliminated and your creditors can no longer pursue you for the outstanding amount owed. It provides peace of mind and a chance for a fresh financial start. 

If you choose to make a consumer proposal to your creditors and if the creditors and the court accept it, the contract is binding between you and the creditors. A certificate of completion, which discharges your indebtedness, will be given as long as you meet the terms of the contract and remit the appropriate funds or assets to the Licensed Insolvency Trustee.