Our bankruptcy Chilliwack page was written to provide those individuals in Chilliwack who are struggling with a large debt load a basic understand of the insolvency laws in Chilliwack and how the bankrupt laws can assist with dealing with overwhelming debts.
If you have considered making a proposal to your creditors to settle your debts, going bankrupt, or are struggling with debts, the insolvency laws in Chilliwack can assist with stopping creditor harassment as well as discharging most debts.
Chilliwack Trustees – Integrity:
Our team of Chilliwack trustees are members of the CAIRP (Canadian Association of Insolvency and Restructuring Professionals) and therefore these trustees must follow the highest ethical as well as professional standards.
One of our trustees would be happy to give you a free initial consultation to discuss your debt elimination options.
If you require a payment plan our bankruptcy Chilliwack trustees can assist with making one with you.
How it Works:
One of the main purposes of Bankruptcy Chilliwack law is to provide an individual who is buried in debts a chance to restart their financial life with no debts.
Declaring Bankruptcy wipes out all a person’s eligible debts usually within nine months. Most people who file bankruptcy keep all their assets because they are protected by the BC bankruptcy exemptions. Most individuals who go bankrupt can have a fresh start relatively easily and quickly, while maintaining their possessions and dignity.
A Personal Proposal is for people who want to pay off a portion of their debts (usually about 20 to thirty percent) over a period of usually three to five years in a debt settlement plan with their creditors.