Saanich Bankruptcy Info & AlternativesGet all your options, and get back on track.Personal Bankruptcy Saanich - Facts, Alternatives & Options | BCNo one feels good about filing for bankruptcy. Get more information and find out what other options and solutions could work better, before making this important decision.Bankruptcy in Saanich, BC - Bankruptcy can be the only thing that comes to mind when you realize that you can't afford to pay your debts and bills. It might be a good solution for your debt problems. But, before filing bankruptcy, you need to know more about your options, how the process works and what it could mean for you and your family in the future. We can help you avoid a possible mistake by showing you your other options first. Types of Debts - What Bankruptcy Won't DoThere's a lot that people don't tell you about bankruptcy. Sure, it will get rid of most of your debts, but there are some debts you might still have to pay because they can't be included in your bankruptcy.3 common types of debt that aren't included in a bankruptcy are:Secured debts, like a mortgage or car loanStudent loans that are less than 7 years oldChild and alimony support payments that you're behind onMany people think that they need to declare bankruptcy because of their credit card debt, but if that debt is recent, creditors may not allow you to eliminate those balances with bankruptcy. The Bankruptcy Process - Working with Your Trustee to Gain Your DischargeIt's not well known, but it takes at least 9 months to go through all the steps of the bankruptcy process. As part of the process, you make payments to your trustee for the costs and fees of going bankrupt, and you also have to attend two bankruptcy counselling sessions. Completing the process and getting discharged takes longer if you need to pay extra to your creditors because of your situation. If you have assets or too much equity in your home, above what you're allowed to keep in BC, your trustee will sell your assets for you.You should also know that your bankruptcy trustee, your creditors, the Office of the Superintendent of Bankruptcy or the Court can oppose or delay your discharge. Depending on your circumstances, you may need to attend a hearing, answer questions under oath and\/or meet the additional requirements to obtain your discharge.Your Credit Report & Bankruptcy in CanadaBankruptcy is noted on your credit report and seriously impacts your credit rating. Despite what people say, getting credit after you have eliminated your debts legally through bankruptcy is not easy. It takes patience and time to prove yourself to creditors again. Until they trust you enough to lend you money again, your financial plans might be on hold because you won't be able to take out a loan, renew your mortgage or apply for a low interest rate credit card. Canadians We Helped Interviewed on the NewsOccasionally, the news media will speak with people we helped who are comfortable with publicly sharing their experiences. Here are a few of their stories.Julia Fletcher is interviewed by Global TV after avoiding bankruptcy by paying off her debt with no interest with help from the Credit Counselling Society. Watch News StoryCTV News reveals how Dan Robinson paid off $30,000 in debt with no interest with the help of the Credit Counselling Society. Watch the News StoryGlobal TV sits down with Charis who has almost paid off $67,000 worth of debt on 13 credit cards with the assistance of the Credit Counselling Society. WatchSee more examples of the Credit Counselling Society in the news. Alternatives to Bankruptcy in BCBy now you may be wondering which alternatives to bankruptcy could work for you. There are a number of options and the best solution might mean combining some of them. Depending on your circumstances, 4 options that you may not have considered are: consolidation loans, debt repayment programs, debt settlement options or a Consumer Proposal.Consolidation & Debt Repayment PlansWhen you hear the words "debt consolidation," you probably think that this means consolidating your bills and other debts into a new loan. This could work for you if you've got a realistic budget. For many people, it makes more sense to consolidate only their monthly payments. Don't worry if you've been turned down for a consolidation loan by your lender. There are other types of debt consolidation to consider.Consolidating payments doesn't involve borrowing more money, so there's never a problem with bad credit. That's how a debt management program and plan with a non-profit credit counselling organization works. Creditors help by lowering or waiving interest charges while you're making your payments. This lets you pay off your debts and saves you thousands in interest and fees. What you pay each month is based on what you can afford after you've had help to create a realistic budget.Settling Your DebtsConsolidation programs and loans help you repay what you borrowed. Most people really do want to pay back what they owe and not walk away from their debts by declaring bankruptcy. However, only paying back part of what you owe might be the best solution. That's where a debt settlement, when structured properly, can help. You need a lump sum of money to offer your creditors a settlement, but sometimes that's not as far-fetched an option as you might think.Consumer ProposalThere are also times where you need a legal alternative to bankruptcy, so a Consumer Proposal might be right. A Consumer Proposal in Saanich is set up by a trustee, and once agreed to by your creditors, you make monthly payments to repay part of what you owe.How Do I Decide Which Option to Go For?The right solution to your debts depends on your circumstances. When you're busy just trying to get from one pay cheque to the next and avoiding collection calls, you need help to look at your situation with a fresh set of ideas. You need a qualified Debt & Credit Counsellor to help you come up with a good plan.There's Hope Without Declaring Bankruptcy"Whatever your financial worries, trepidation or fear of being judged\/forced into bankruptcy - get CCS to help. Their staff is incredible, couldn't have dealt with a better group of people. They are truly dedicated to finding practical solutions, advocating for your financial future. First they provide hope, then they help and finish by delivering happiness." - Daryl, Actual Client Review from Google Non Profit, Confidential Bankruptcy & Credit Counselling Information & Advice in Saanich, BCGet answers to your questions about joint debts or debts remaining after a divorce, find out why someone should not file for bankruptcy, or learn more about bankruptcy alternatives from one of our Debt & Credit Counsellors! They are experts in helping people find solutions to their debt and money problems, and they'd be happy to give you with the information you need to make choices that will benefit your financial future.Your Counsellor will:Explain all of your bankruptcy alternatives and debt relief optionsShow you how to budget effectively for all of your household expensesRecommend bankruptcy trustees in Saanich if it looks like declaring bankruptcy is the right optionProvide answers and information so that you can choose the best way of dealing with your debts Office Serving SaanichCook Medical BuildingSuite 214 - 1175 Cook StreetVictoria, BC V8V 4A1Phone: 250-382-9559 Free Credit Counselling Appointments & Consultations for Saanich, BCWe are experts in helping individuals and families just like you find good solutions to their debt problems. It really is possible to get back on track and look forward to being debt free. To find out more or to schedule a free, confidential appointment with one of our Credit Counsellors who serves Saanich, contact us today at 250-382-9559, email us or chat with us online.Putting Your Interests FirstOur goal is to always put consumers first and look out for their best interests in everything we do. One way we do this is through transparency and accountability. We are held accountable to the most rigorous standards in our industry.Related Articles of InterestMore Information About Canadian BankruptcyCanadian Bankruptcy Myths & FactsWill Bankruptcy Fix My Debt Problems?Related LinksThe Office of the Superintendent of Bankruptcy in BCInsolvency GlossaryCredit Counselling Society BC office locations The Credit Counselling Society also provides help to those who are struggling with payday loans - including online loans - in Saanich.