Williams Lake Bankruptcy Info & AlternativesExplore all your options, and get your finances back on track.Personal Bankruptcy Williams Lake - Facts, Options & Alternatives | BCNo one wants to file for bankruptcy. Find other options and get more information before taking such a drastic step.Personal Bankruptcy in Williams Lake, BC - When you can't afford to pay your bills and debts what comes to mind first? Many people think of filing for bankruptcy. While bankruptcy might be the right solution for you, you first need to find out about your other options, the ins and outs of the process, and how it will affect you and your family in the future. We want to help you avoid making a huge mistake by giving you information to make an informed decision. The Bankruptcy Process - Working with Your Trustee to Gain Your DischargeThose who have gone bankrupt might not tell you that it takes a minimum of 9 months to complete the bankruptcy process. There are costs and fees to go bankrupt, which you pay to your trustee, as well as bankruptcy counselling sessions you must attend. Depending on your circumstances, you may also need to pay extra to your creditors, which delays completing the process and obtaining your discharge. Not everyone loses their home and assets when they file for bankruptcy, but assets above what you're allowed to keep in BC will be sold by your trustee.You should also be aware that your trustee, your creditors, the Office of the Superintendent of Bankruptcy or the Court can oppose or delay your bankruptcy discharge. Depending on your situation, you may need to attend a hearing, answer questions under oath and\/or meet the additional requirements to obtain your discharge.Credit Ratings & 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 NewsOn occasion, the news media will talk to one or two of the people we helped who are comfortable sharing their story with the public. Below are three of these stories.Global News interviews Julia Fletcher after she avoided bankruptcy and eliminated her debt with help from the Credit Counselling Society. Watch News ClipCTV story shows how Dan Robinson pays off $30,000 in debt with zero interest after getting help from the Credit Counselling Society. CTV - Help to Pay Down DebtGlobal TV interviews Charis who consolidated with us and has nearly paid off $67,000 in debt on 13 credit cards. Watch the SegmentYou can check out even more 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 ProgramsWhen 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.If you happen to have bad credit, you might be worried about consolidating your debts, but consolidating payments doesn't mean borrowing more money, so credit problems aren't an issue. That's how a debt management program with a non-profit credit counselling agency works. Your creditors help you by lowering or waiving interest charges. This makes smaller payments possible, saves you thousands in interest and lets you pay back what you borrowed. Your monthly payments are based on what you can afford and there's no loan to get you deeper into debt.Settle DebtTo help you pay back what you borrowed, consolidation programs and loans can help. Most people don't want to walk away from their debts and go bankrupt, but they think they have to because they don't know what else to do. Surprisingly, sometimes only paying back part of what you owe can also be a solution. When done properly, a debt settlement offers your creditors a lump sum of money. That might not be as far-fetched an option as you might think.Filing for a Consumer ProposalThere are also times where you need a legal alternative to bankruptcy, so a Consumer Proposal might be right. A Consumer Proposal in Williams Lake is set up by a trustee, and once agreed to by your creditors, you make monthly payments to repay part of what you owe.Which Option is Best?As you can tell, a lot depends on your situation. When you're just trying to make ends meet and duck the collection phone calls, you need help looking at your circumstances objectively. You need a professionally trained Credit & Debt Counsellor to help you come up with a good plan.There's Life Beyond Debt for Everyone"I am likely going to be out of debt within a year - and that's over a year ahead of the initial estimate! Best part of that is that because the Credit Counselling Society did it as a debt repayment arrangement, unlike bankruptcy, it will be much better on my credit rating - and as proof, when I applied for new cell and cable service in Vancouver, my rating has already improved such that I got new accounts without a limit or deposit!" - Paul, Actual Client from Yelp\t Non Profit, Confidential Bankruptcy & Credit Counselling Information & Advice in Williams Lake, BCIf you want to find out why someone shouldn't declare bankruptcy, get answers to your questions about joint debts or debts left over from a divorce, or learn more about alternatives to bankruptcy, one of our Credit & Debt Counsellors can help! They are experts in helping people with their debts and money, and they'd be happy to provide you with the information you need to make an informed decision about 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 Williams Lake 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 Free Credit Counselling Appointments for Williams Lake, 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 Williams Lake, contact us today at 1-888-527-8999, 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 Info About Bankruptcy in CanadaCommon Canadian Bankruptcy Myths & MisconceptionsWill Bankruptcy Resolve My Debt Issues?Related LinksThe Office of the Superintendent of Bankruptcy in BCInsolvency GlossaryCredit Counselling Society BC office locations The Credit Counselling Society also offers assistance to people who need help with their payday loans in Williams Lake (even online ones).