Bankruptcy in BC

Benefits of Bankruptcy/Consumer Proposal in British Columbia

If you’re facing serious debt issues and are wondering whether you should file for a bankruptcy or consumer proposal in British Columbia (or anywhere in Canada for that matter), it’s best to seek expert guidance from a licensed insolvency trustee. They can guide you in the right direction after evaluating your unique situation and recommending the course of action that’s best suited for resolving your debt issue. 

That said, it’s important to note that filing a bankruptcy in BC may be a good idea in some cases. Here are some advantages of filing for a bankruptcy instead of a consumer proposal in British Columbia or anywhere else in Canada: 

Advantages of Declaring Bankruptcy in BC:

  1. While bankruptcy is by no means an easy solution, it does provide closure by giving you the opportunity to make a fresh start financially. Depending on your situation, you can be discharged of almost all unsecured debts some of which include credit card balances, medical bills, unsecured personal loans and lines of credit, arrears of income taxes, and overdue insurance premiums.
  2. You will be allowed to keep property if it’s exempt from bankruptcy. 
  3. Relief from debt collectors is one of the biggest advantages of filing for bankruptcy. Once the ‘automatic stay’ is in effect, creditors cannot call, sue, or harass you to recover their debts. While no one looks forward to declaring a bankruptcy, it allows you peace of mind.

While bankruptcy offers some advantages, it may not be the best solution for everyone. Depending on your situation, you can also consider filing a consumer proposal in British Columbia, after seeking guidance from a bankruptcy trustee in BC. It has a less severe impact on the credit rating and allows you to keep more of your assets.

Although personal bankruptcy in Canada is governed by federal legislation called the Bankruptcy & Insolvency Act, what you get to keep if you go bankrupt in British Columbia, for example, is governed by provincial legislation. The rules are complicated, and that’s why before you decide to file bankruptcy in British Columbia, you should consult a knowledgeable expert on bankruptcy British Columbia law.

We have compiled a list of Licensed Insolvency Trustees licensed by the federal government in British Columbia, that are also members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). This means they are subject to the highest ethical standards.

Money problems won’t go away on their own. For help with bankruptcy in British Columbia, fill out the form for a free initial consultation. One of our licensed bankruptcy trustees in British Columbia will contact you as soon as possible and answer for free any questions you may have.

Follow these easy instructions to get help:
1. Look at the list below to find the city, or location, nearest you
2. Call the phone number to book a free, confidential, no-obligation consultation
3. You’ll be put in touch with a debt relief specialist who will explain all options to help you
4. Your meeting will initially take place on the phone or online

Sponsored By:
Smythe Insolvency Inc.
Address:
Abbotsford, BC
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Lake City Business Centre, 501-3292 Production Way, Burnaby, BC, V5A 4R4
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
575 10th Street, Courtenay, B.C. V9N 1P9
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Chilliwack, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
575 10th Street, Courtenay, B.C. V9N 1P9
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: Lake City Business Centre, 501-3292 Production Way, Burnaby, BC, V5A 4R4
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
575 10th Street, Courtenay, B.C. V9N 1P9
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Cranbrook, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
575 10th Street, Courtenay, B.C. V9N 1P9
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Dawson Creek, BC
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Bromwich & Smith Inc.
Address:
East Kootenays, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Fort Nelson, British Columbia
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Haida Gwaii, British Columbia
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Hope, British Columbia
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Kamloops, BC
 

Sponsored By:
Bromwich & Smith Inc.
Address:
1631 Dickson Avenue, Suite 1100, Kelowna, BC, V1Y 0B5
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at 200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Smythe Insolvency Inc.
Address:
305-9440 202nd St, Langley, BC, V1M 4A6
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Lytton, BC
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 305-9440 202nd St, Langley, BC, V1M 4A6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 305-9440 202nd St, Langley, BC, V1M 4A6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Nelson, British Columbia
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Osoyoos, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Service available at: 37897 2nd Avenue, Squamish, BC, V8B 0R2
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Penticton, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Smythe Insolvency Inc
Address:
Service available at: Lake City Business Centre, 501-3292 Production Way, Burnaby, BC, V5A 4R4
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
575 10th Street, Courtenay, B.C. V9N 1P9
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: Lake City Business Centre, 501-3292 Production Way, Burnaby, BC, V5A 4R4
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Prince George, BC
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Prince Rupert, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Quesnel, BC
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at 200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Salmon Arm, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Sparwood, BC
 

Sponsored By:
Smythe Insolvency Inc.
Address:
37897 2nd Ave, Squamish, BC, V8B 0R2
 

Sponsored By:
Smythe Insolvency Inc.
Address:
200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Terrace, BC
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 200-7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
Service Available at 13 – 6421 Applecross Rd. Nanaimo, BC V9V 1N1
 

Sponsored By:
Smythe Insolvency Inc.
Address:
305-221 Esplanade West, North Vancouver, BC, V7M 3J3
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at 305 – 221 Esplanade West, North Vancouver, BC, V7M 3J3
 

Sponsored By:
Smythe Insolvency Inc.
Address:
700-355 Burrard St, Vancouver, BC, V6C 2G8
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Sandman Suites Conference Centre: 4201 32 St, Vernon, BC V1T 5P3
 

Sponsored By:
G. Slocombe & Associates Inc.
Address:
612 Boleskine Rd, Victoria, BC V8Z 1E8
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 37897 2nd Ave, Squamish, BC, V8B 0R2
 

Sponsored By:
Smythe Insolvency Inc.
Address:
Service available at: 200 – 7404 King George Blvd, Surrey, BC, V3W 1N6
 

Sponsored By:
Bromwich & Smith Inc.
Address:
Williams Lake, BC
 

For your next step, you can:

  • Contact any of the professionals above and arrange for a free initial consultation.
  • Email your personal questions to a British Columbia Licensed Insolvency Trustee near you, who will respond to your questions in confidence.