Filing Bankruptcy in Kelowna
We are a fully Licensed Insolvency Trustees with a local office in Kelowna 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 Kelowna or surrounding areas, learn more about our services below.
What We Are Noticing in Kelowna:
High cost of living in Kelowna causing financial struggles.
Although Kelowna’s cost of living is still lower in Kelowna than, say, Vancouver, it’s rising rapidly. This results in increases in expenses such as household rent. For those just starting out in the real estate market with a low down payment, it can mean a significant monthly payment for their mortgage. When housing costs exceed 30% of a family or individual’s monthly take-home pay, this often forces people to use unsecured debt products to cover car repairs and other monthly expenses, as well as expenses relating to unexpected emergencies. The problem is that as the unsecured debts build, people may struggle with meeting monthly payment obligations which result in even more use of credit. This can be a vicious cycle, an unending spiral of potentially crippling debt.
If you find yourself struggling with your debt, contact a Licensed Insolvency Trustee at D. Thode & Associates Inc. for a free consultation to find out your options.