Filing Bankruptcy Kelowna
Contact D. Thode & Associates for a FREE “Know Your Alternatives” Debt Consultation.
We are a fully Licensed Insolvency Trustees proudly serving Kelowna & West Kelowna and the Province of British Columbia since 2003.
If you are considering filing bankruptcy or are in current financial difficulty and you live in Kelowna or surrounding areas, please learn more about our services below.
Individuals who are unable to meet their debt obligations can file for bankruptcy under the Bankruptcy and Insolvency Act (Canada). The process can be stressful. We have the expertise to guide individuals through the process and make sure that you understand your rights.
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
A 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 Burnaby trustees can help you file a proposal with your creditors.
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.
Kelowna B.C. Offices
1980 Cooper Rd. #220, Kelowna, BC V1Y 8K5
Call Us: 250-712-5353
Directions To Kelowna Offices: The Kelowna office is located in Orchard Plaza on the North West Corner of Cooper and Springfield, we are in the 2 storey office build across the parking lot from Winners, above Wine Kitz. – Suite 220.
Map to Kelowna Offices
We understand the difficulties during this time. Contact us at D. Thode & Associates to determine the right financial alternative for you.
Our B.C. Offices
Should you require bankruptcy solutions and counselling outside of Kelowna and West Kelowna & Area, D. Thode & Associates has several offices to serve you throughout British Columbia.
Canadians are in uncharted territory when it comes to handling their personal finances during the COVID-19 pandemic. Right now, over …