How long does a bankruptcy last?

The length of the bankruptcy depends on a few factors – whether you have ‘surplus income’ (see below) and whether you have been bankrupt before. If you have no surplus income and have never been bankrupt before, you will be eligible for an automatic discharge after nine months.

How long does the Consumer Proposal last?

A Consumer Proposal must be completed within 5 years. Usually the payments are monthly (over 60 months), but a Consumer Proposal can also include a lump sum payment, or a combination of the two. If your finances allow, you can pay it off sooner than the agreed-upon payment schedule lays out.

What is a bankruptcy?

A bankruptcy is a legal process to discharge your debts. It is a declaration that your debts are too high for you to repay – and far better than the old concept of a ‘debtor’s prison’! It allows for a fresh start, while giving your creditors some return on what’s owed only if you have a level of income that allows for payments to be made to them, or unprotected assets that can be liquidated (however, most common assets are protected during this process – see below for more information on protected personal assets).

What is a Consumer Proposal?

A Consumer Proposal is an offer to your creditors to pay back a percentage of what you owe them, based on your ability to pay. It is governed by the Bankruptcy and Insolvency Act, administered by a Licensed Insolvency Trustee. Unlike other negotiated debt settlement plans, it is legally binding on all creditors and usually involves paying back less than the total amount of your debt.

What is a Licensed Insolvency Trustee (LIT)?

Licensed Insolvency Trustees (LITs) are federally regulated professionals who provide advice and services to individuals and businesses to reorganize and resolve financial difficulties with expertise and compassion. LITs help individuals or businesses make informed choices to deal with their financial difficulties. They are the only professionals able to administer bankruptcies or proposals.

Privacy Policy | Campbell Saunders Insolvency Trustee

Home » Privacy Policy

Effective Date: August 26, 2023

1: Introduction

Campbell, Saunders Ltd. (referred to as "we," "us," or "our") is committed to protecting the privacy and confidentiality of your personal information. This Privacy Policy outlines how we collect, use, disclose, and safeguard your personal information in accordance with applicable privacy laws.

2: Information We Collect

We may collect and process the following types of personal information:

- Contact Information: Name, address, email address, phone number, and other contact details.
- Financial Information: Information related to your financial situation, including income, debts, and assets.
- Identification Information: Government-issued identification documents, such as driver's licenses or social insurance numbers, as required by law.
- Communication History: Records of our interactions with you, including emails, phone calls, and appointments.
- Website Usage Information: Information collected through cookies and similar technologies when you visit our website.

3: How We Use Your Information

We use your personal information for the following purposes:

- Providing Insolvency Services: To assess your financial situation and provide advice on insolvency and debt management.
- Legal and Regulatory Compliance: To fulfill our obligations under the Bankruptcy and Insolvency Act and other relevant laws and regulations.
- Communication: To respond to your inquiries, send you important updates, and schedule appointments.
- Website Improvement: To enhance and personalize your experience on our website.

4: Disclosure of Your Information

We may disclose your personal information to the following parties, only when necessary:

- Regulatory Authorities: To comply with legal and regulatory requirements.
- Service Providers: To third-party service providers who assist us in delivering our services and managing our operations.
- Other Parties: To other parties with your consent or as required by law.

5: Data Security

We implement reasonable security measures to protect your personal information from unauthorized access, disclosure, alteration, and destruction. However, no data transmission over the internet is completely secure, and we cannot guarantee the security of your information.

6: Your Privacy Choices

You have the following privacy choices:

- Access: You can request access to your personal information that we hold.
- Correction: You can request corrections to your inaccurate or incomplete personal information.
- Withdrawal: You can withdraw your consent to our processing of your information at any time, subject to legal or contractual restrictions.

7: Retention

We retain your personal information only for as long as necessary to fulfill the purposes outlined in this Privacy Policy or as required by law.

8: Changes to This Privacy Policy

We may update this Privacy Policy periodically. The effective date at the top of this policy will reflect the latest revision. We encourage you to review this policy regularly to stay informed about how we protect your privacy.

9: Contact Us

If you have any questions, concerns, or requests related to your privacy or this Privacy Policy, please contact us:

Campbell, Saunders Ltd.
300-9850 King George Boulevard
Surrey, BC V3T 0P9

reception@csvan.com
Ph: 604 821 9882
Fax: 604 821 9870