Bankruptcy & Debt Relief Victoria BC

Bankruptcy Advantages

Bankruptcy allows you to tackle your debt problem head on, as well as these other advantages:

Most wage garnishments are stopped


Creditors are no longer allowed to harass you for repayment


It can be over and done with very quickly, in as little as 9 or 21 months


Creditors don’t need to vote to approve your bankruptcy


A sense of relief knowing your debts will be properly taken care of


Bankruptcy can be the most effective option, allowing you to work quickly towards your FreshStart

Is Bankruptcy right for me?

Doug Lee & Associates Inc. (FreshStartBC) will work with you to understand your unique financial situation and determine if bankruptcy is appropriate for you. If bankruptcy is your best option, you will be assigned your own FreshStartBC Licensed Insolvency Trustee, who will walk you through the entire bankruptcy process. We are experienced in all areas of bankruptcy law and we can ensure that your bankruptcy process will be in expert hands. Some individuals can be finished the bankruptcy process in as little as 9 months, and every individual will know exactly what to expect in the process while dealing with us.

What is required of me in Bankruptcy?

Personal Bankruptcy laws in Canada are governed by the Bankruptcy and Insolvency Act.  Failure to complete your duties will delay your bankruptcy discharge, so it is important you fully understand your requirements once you declare bankruptcy. 

FreshStartBC will ensure this process is as easy as possible, and will help you every step of the way.

Here are some duties required under the
Bankruptcy and Insolvency Act:
  • Disclose all property & assets in your possession
  • Deliver non-exempt assets to the trustee
  • Hand over all credit cards for cancellation
  • Attend creditors meetings and examinations by the Official Receiver
  • Provide any documents requested by the trustee (tax returns, insurance policies, etc.)
  • Report your household income each month and provide pay stubs
  • Attend two credit counselling sessions
  • Keep the trustee informed of any contact information changes
  • Make all required payments

What assets are exempt under the Bankruptcy and Insolvency Act in British Columbia?


  • Home equity in Greater Vancouver and the Victoria Capital Region District up to $12,000. Elsewhere in the province it is $9,000 worth of home equity.
  • Household furniture and effects up to $4,000 (garage sale value, not replacement value).
  • One vehicle up to $5,000.
  • Tools of the trade up to $10,000.
  • No limit on medical aids
  • RRSP’s are exempt except for the contributions made in the previous 12 months.

Is there an alternative?

No one wants to think of themselves as financially bankrupt. Your debts can be overwhelming, and it can be tempting to simply ignore them; however, debt will not go away if you attempt to ignore it. In fact, the longer you wait, the more difficult your debt problems will inevitably become. FreshStartBC can evaluate your debt problems and help you decide whether a consumer proposal makes more sense than filing for bankruptcy.

What is the first step to take?

Contact us and set up your FREE consultation. This consultation will give us the opportunity to evaluate your circumstances and provide you a clear picture of what to do next. Regardless of your specific financial problems, you owe it to yourself to contact us in order to get a FreshStart and rebuild your future. Doug Lee & Associates Inc. has helped thousands of people overcome their debt problems, and we can help you as well!

Book your FREE confidential, no obligation consultation today.