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Financial troubles are something that can sneak up on you. What may start as a few purchases on a credit card to help you make it until your next paycheck can quickly snowball out of control. Couple this with all your other monthly bills, and you can fall behind and feel like you’ll never catch up. If your debt has grown to the point where it is overwhelming, or you can no longer make all your payments, you are not alone. The good news is there are plenty of resources to help you navigate your way out of this situation, and Smythe Insolvency can help you find these resources. Continue reading to learn more about our debt relief resources in Canada or call one of our offices in British Columbia.
As a firm of Licensed Insolvency Trustees and debt specialists, Smythe Insolvency offers a range of services to help our clients deal with financial burdens and mounting debts. We want to be there for you during your time of need. Our team can evaluate your current financial situation and determine how to best proceed. We can point you in the direction of the right resources and services to help you find relief from your debt.
In most cases, if you’re owning a significant amount of debt, you will owe numerous different creditors. This can make it difficult to organize and stay on top of your payments. Rather than continue to pay each of your creditors individually, one option is to consolidate your debt with the help of a Licensed Insolvency Trustee. This process will allow you to combine all your debts, creating one manageable monthly payment that will help you get out of debt. Our team can help you navigate the debt consolidation process to help you take the first steps toward fully paying off your debt.
If you are a citizen of British Columbia, you may find yourself owing money to the Insurance Corporation of British Columbia (ICBC) at some point in your life. This may be due to unpaid fines, denials by your insurance coverage, and other situations. Sometimes, the debts owed to the ICBC can be overwhelming, leaving you struggling to make the payments. Once you incur debt with the ICBC, it can grow rapidly, as additional charges can be added every time you miss a payment or make only a partial payment. A Licensed Insolvency Trustee can help you find relief from your ICBC debt through a couple of different avenues.
Businesses can accumulate debt just as easily as individuals. While it’s normal to have some debt as you get your business up and running, things can become overwhelming quickly if your revenue stream isn’t as dependable as you predicted. Our Licensed Insolvency Trustees offer small business solutions that can help you if you are a self-employed sole proprietor or have a small business with employees. If your debt has become overwhelming, you can usually choose between filing for bankruptcy or a consumer proposal. We can help you determine which course of action is better for you and your business.
When you are dealing with overwhelming debt, you need more than just someone to help you out of your current situation. You also need someone who can help you determine where your financial difficulties first arose and how to avoid this in the future. We have a team of qualified insolvency counsellors ready to help you identify the problem and build better financial management skills. As part of our insolvency services, we offer credit counselling that will teach you effective budgeting strategies so you can achieve your goals, both short and long-term.
As part of the insolvency process, the Office of the Superintendent of Bankruptcy (OSB) has developed an online counselling program for those involved in the bankruptcy or consumer proposal process. This resource will help you gain the right tools and knowledge needed during the insolvency process and beyond. Your Licensed Insolvency Trustee will help you understand the requirements of this counselling program.
Our goal at Smythe Insolvency is to provide you with all the tools you need to overcome your financial difficulties. In addition to the services and resources we discussed on this page, you can also find additional help by using the links below:
If you are interested in learning more about the financial resources and insolvency services we provide, we encourage you to reach out to our team today. We are always available to answer any questions and provide you with the advice and support you need. Give us a call today!