{"id":62,"date":"2011-05-12T21:28:35","date_gmt":"2011-05-12T21:28:35","guid":{"rendered":"https:\/\/www.sands-trustee.com\/?page_id=62"},"modified":"2022-03-09T04:59:14","modified_gmt":"2022-03-09T12:59:14","slug":"credit-counselling-proposals","status":"publish","type":"page","link":"https:\/\/www.sands-trustee.com\/personal-debt-consolidation\/personal-bankruptcy\/credit-counselling-proposals\/","title":{"rendered":"Personal Bankruptcy VS Credit Counselling"},"content":{"rendered":"

When you\u2019ve made the decision to take charge of your debts there can be a lot of pressure to find a debt management strategy right away. It is important that you have all the facts about your rights and remedies to be able to make informed decisions about your best way forward. Choosing the debt solution that\u2019s right for you can save you a lot of time, stress, and even money.<\/p>\n

Declaring personal bankruptcy<\/a> is typically seen as a last resort, and we often work with people who attempted to avoid bankruptcy by consolidating debt with either consolidation loans or using traditional or non-profit credit counselling plans, but ultimately found these options unsuccessful and decided to move into a bankruptcy process instead.<\/p>\n

As Licensed Insolvency Trustees, we will first help you assess your situation and evaluate all<\/em> the potential options available to you. Filing bankruptcy is just one possible solution, and there may be alternatives that will help you achieve your debt-free goals.<\/p>\n

Understand and Compare Debt Help Services: Filing Bankruptcy & Consumer Credit Counselling<\/h2>\n

Below is a comparison of some of the main points of difference between the personal bankruptcy process in BC and credit counselling plans like those offered by for-profit and non-profit organizations.<\/p>\n

If debt is making you feel overwhelmed or discouraged, please know that you are not alone \u2013 we are here to help you. Even if you are in a credit counselling program you still have the option to exit that plan and get the protection of a legal solution such as declaring personal bankruptcy or making a Consumer Proposal<\/a> (a powerful consolidation option and alternative to bankruptcy).<\/p>\n

All Licensed Insolvency Trustees offer free debt consultations where you can learn about your options and explore solutions to deal with your debt. No referral is needed to <\/em>connect and get support from Sands & Associates\u2019 Licensed Insolvency Trustees<\/em><\/a>.<\/em><\/p><\/blockquote>\n

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Personal Bankruptcy
VS.<\/span> Credit Counselling<\/h2>\n

Many people find themselves in difficult situations that leave them struggling financially or unable to repay all their debts as they intended to, despite their best efforts.<\/p>\n

Declaring bankruptcy or repaying their debts using a credit counselling plan are common debt management strategies people choose to help deal with debt. If you\u2019re considering either of these options, it\u2019s important to understand the key differences between them.<\/p>\n

<\/div>\n <\/div>\n <\/div>\n <\/div>\n
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\n Personal Bankruptcy\n <\/div>\n
\n Credit Counselling\n <\/div>\n <\/div>\n <\/div>\n
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\n Types of Debt Eligible\n <\/div>\n
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Virtually all types of debt may be addressed and forgiven by personal bankruptcy, including but not limited to:<\/p>\n