Filing Bankruptcy in Burnaby B.C. & Area
If you are considering filing bankruptcy in British Columbia, contact one of our trustees to help.
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- Debt Stress
- Being Harassed by creditors
- Receiving Calls from collection agents
- Wages being Garnished
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Filing Bankruptcy in Burnaby
We are a fully Licensed Insolvency Trustees with a local office in Burnaby and several other locations throughout the Province of British Columbia.
If you are considering filing bankruptcy or are in current financial difficulty and you live in Burnaby or surrounding areas, learn more about our services below.
What We Are Noticing in Burnaby:
Burnaby residents face uncertainty with mounting retail losses. The retail industry has suffered tremendous losses in the wake of the COVID-19 pandemic. In the past few months, high-profile closures have included Addition-Elle, Thyme Maternity, David’s Tea and more recently Le Chateau. Retailers who have reopened continue to see losses and need to shift how they conduct business. With the original lockdown, a slow reopening, social distancing, and reduced customers, the retail workforce has become even more vulnerable than before. Online purchasing has become the norm, and consumers have significantly reduced their visits to brick-and-mortar stores.
Emergency subsidies and other measures taken by the federal and provincial governments have assisted retailers with covering wages and rent. Still, these were always meant to be temporary measures and cannot be counted on in the long run and cannot make up for what may become permanent shifts in consumers purchase of products.
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At least in the short term, many retail employees will face the precarious reality of lower earnings, lower commissions, and difficulty in finding long-term stable employment, resulting in a struggle to cover living expenses and maintain regular payments to creditors. When you are barely making ends meet, it becomes more and more challenging to see a large portion of your debt payments applied to interest and your balances not being reduced.
If you face financial difficulties due to loss of income and need a fresh start, find out the best options available to help you get out of debt for good.
Individuals who are unable to meet their debt obligations can file for bankruptcy under the Bankruptcy and Insolvency Act (Canada). This process can be stressful. We have the expertise to guide individuals through the process and make sure that you understand your rights.
Popular Bankruptcy Questions
You will have relief from all of your creditors. 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. The bankruptcy process is designed to get you back on your feet more quickly, relieving you of financial stress.
Your trustee will handle all aspects of the bankruptcy process on your behalf. This includes drafting legal documentation, dealing with creditors, setting personal budget and payment schedule, and distributing assets.
Once your bankruptcy documents are filed, you will continue to work with your trustee to set a personal budget and meet your debt obligations. Until your debts are met your financial flexibility may be limited. This can be challenging but it is imperative to meet your obligations and discharge your bankruptcy as soon as possible.
Burnaby B.C. Offices
501 – 3292 Production Way, Burnaby, BC V5A 4R4
Call Us: 604-336-9533
Directions to Burnaby Offices: Our Burnaby office is located immediately beside the Production Way SkyTrain station at the corner of Production Way and Lougheed Highway. Hourly parking is available in the underground, credit card payment only, or free on the street.
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