Summerland Bankruptcy & Debt Solutions

Is Bankruptcy the best option for you?
D. Thode & Associates has been serving the residents of  Summerland  B.C. since 2003.  
Let’s start with a call.

If you are consider bankruptcy or are in current financial difficulty and you live in Summerland  B.C. or surrounding areas, we offer full remote consultation through online conferencing.

We know excess debt can be stressful.

Individuals who are unable to meet their debt obligations can file for bankruptcy under the Bankruptcy and Insolvency Act (Canada). However, this might not be the only solution. Although we know the process of considering bankruptcy can be stressful, we have the expertise to guide individuals through the process and make sure that you understand your rights.  Below are many questions asked by the residents of Summerland just like you.

What are the main benefits of personal bankruptcy?

  • You’ll have relief from all of your creditors.  If you’re this deep in debt, your creditors have probably been harassing you for payments for a long time. When you file for bankruptcy, your trustee will see that you no longer have to worry about or deal with your creditors directly. You may also benefit from the termination of wage garnishment, if applicable. In short, you can start over.
  • You’ll have consolidated all of your debt payments. Your wallet and budget won’t be strained every which way, because you’ll have only one payment and one set interest rate to deal with. The bankruptcy process is designed to get you back on your feet more quickly, relieving you of financial stress.

Why is an insolvency trustee required?

Your trustee will handle all aspects of the bankruptcy process on your behalf.

  • Drafting legal documentation
  • Dealing with creditors
  • Setting personal budget and payment schedule
  • Distributing assets

During The Process

If bankruptcy is the right solution,  you are now on a course to a better situation.  Once your bankruptcy documents are filed, you will continue to work with your Trustee in Bankruptcy to understand  your entire income to set a personal budget for you and meet your debt obligations. This means that, until your debts are met, your financial flexibility may be limited. This can be challenging for some, but it is imperative to meet your obligations and discharge your bankruptcy as soon as possible. Many people that ultimately go this route do feel relief once they make the decision to begin the bankruptcy process.

Questions We Often Get Asked About Bankruptcy.

  • Can I keep my home if I go bankrupt?
  • Will my student loan be included?
  • Can bankruptcy help if I owe taxes?
  • Will bankruptcy affect my spouse’s credit rating?
  • What happens to my vehicle?
  • Will I ever be able to have credit again?
  • What would you do if you were me?

Alternatives To Bankruptcy

Sometimes, fortunately, there are alternatives to declaring bankruptcy that can genuinely work out much better in the long run.  When you are in the unfortunate circumstance of contemplating bankruptcy, take the time to educate yourself about the benefits of consumer proposals and debt consolidation.
 

Consumer Proposals

Consumer Proposal allows you to consolidate your debts and make one monthly payment. You can negotiate with your creditors so that you end up owing less debt overall.

Learn more about how our Cranbrook trustees can help you file a proposal with your creditors.

Debt Consolidation

When credit card debt and other high interest loans get out of control, it may be time to consolidate your debts. A Consolidation Loan is offered by your bank or other financial institution. All of your debts will be rolled into one lower monthly payment with a lower interest rate.

What are we observing in Summerland B.C.?

  • Retirement – seniors face struggles switching to a fixed income.
  • Individuals facing a loss or decrease in income due to illness or job loss.
  • Failure of business both as a sole proprietorship or corporation. High tax debt and/or personal guarantees.

Summerland Financial & Other Resources

Our closest offices to Summerland if you require an in person meeting.

1980 Cooper Rd. #220, Kelowna, BC V1Y 8K5

Call us at 250-712-5353

Directions To Kelowna Offices for Summerland Residents: The Kelowna office is located in Orchard Plaza on the North West Corner of Cooper and Springfield, we are in the 2 storey office building across the parking lot from Winners, above Wine Kitz. – Suite 220.

Map to Kelowna Offices

Please note we also provide bankruptcy consultation and debt counselling out of our Kelowna Office in the following locations: Cranbrook, Prince George, Vernon, West Kelowna, Fort St. John, Salmon Arm, Lake Country, Dawson Creek, Terrace, Summerland, Nelson, Williams Lake, Quesnel.

Contact us for a FREE "Know Your Alternatives" consultation.
Ready to reduce your debt? Fill out the form below to be on your way to better financial health.

British Columbia Locations

Should you require bankruptcy solutions and debt counselling outside of Kelowna & Area, D. Thode & Associates has several offices to serve you throughout British Columbia.

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