Filing Bankruptcy in Vancouver B.C. & Area
If you are considering filing bankruptcy in British Columbia, contact one of our trustees to help.
We Can Help STOP
- Debt Stress
- Being Harassed by creditors
- Receiving Calls from collection agents
- Wages being Garnished
- High Tax Debt
Filing Bankruptcy in Vancouver
We are a fully Licensed Insolvency Trustees with a local office in Vancouver 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 Vancouver or surrounding areas, learn more about our services below.
What We Are Noticing in Vancouver:
Seniors facing financial troubles in Vancouver are on the rise.
Aging adults often head into retirement with some amount of debt, whether it’s still making payments on a mortgage or carrying unsecured debt, such as credit cards and lines of credit.
In an ideal world, seniors would retire with a paid-off mortgage, no debt and plenty of savings. However, given the cost of living in Vancouver, this is often not the case. Reducing your lifestyle to match the reduced income in retirement can be a challenge if you continue to service debt. We often see seniors use credit cards and lines of credit to keep up with their housing and medical costs into retirement. This can lead them to ultimately file bankruptcy or make a consumer proposal to their creditors to deal with their debt; however, this does not address rising living costs on a fixed income.
Vancouver, in general, has affected the personal finances of many. As the cost of living has risen quickly, many residents still earn roughly the same income, and bankruptcy is sometimes the best option to deal with the increased debt.
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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.
Vancouver B.C. Offices
1055 W Hastings St – Suite 300 Vancouver, BC V6E 2E9
Call Us: 604-336-9533
Directions to Vancouver Offices: Our Vancouver office is located within the Guinness Building on West Hastings Street between Burrard and Thurlow. We are just a short walk from the Burrard Skytrain Station. Meter parking is available on the street, or hourly parking is available in our underground parkade on P4.
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