Debt relief in British Columbia
Explore your debt relief options in British Columbia, Canada.
Find an office near you.


Grant Thornton offers British Columbians judgment-free solutions to their debt.
As Licensed Insolvency Trustees and debt solutions professionals in BC, we’re regulated by the federal government, meaning we’re the only professionals authorized to offer debt repayment solutions, like consumer proposals and bankruptcy. We provide free, no obligation consultations to help get you back on track with your finances. Book yours today!
Consumer proposals in BC
Consumer proposals are becoming one of the most popular debt management solutions for British Columbians struggling with debt. As an alternative to bankruptcy, a consumer proposal is a legally binding repayment agreement between you and your creditors. A Licensed Insolvency Trustee will negotiate on your behalf to settle your unsecured debt (credit cards, income tax debt, payday loans, etc.) into a single, interest-free payment.


Filing for bankruptcy in BC
Personal bankruptcy is a common debt solution that allows you to clear almost all your debt, including income tax debt, credit card debt, overdue utility bills, lines of credit, and loans. Before you decide to file for bankruptcy, it’s important to consider all other debt repayment options. Your Licensed Insolvency Trustee (LIT) will help you decide if declaring bankruptcy is the best choice for you.
What assets can I keep during bankruptcy in BC?
In all provinces and territories, you can generally keep essential items up to a certain value—like necessary clothing and household goods, most retirement savings, Registered Disability savings plans, and most life insurance policies and pension plans.
Learn more detailed information about what assets you can keep in your province.
Exemptions specific to British Columbia include:
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The equity in your principal residence (between $9,000-$12,000 depending on where you're located).
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One motor vehicle, up to a value of $5,000.
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$2,000 if under Maintenance Enforcement.
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Medical and dental aids required by you and your dependents.
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Personal property or tools of the trade (i.e., tools, equipment, books, computer) needed for your occupation up to a value of $10,000.
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DPSPs (Deferred Profit-Sharing Plans), except contributions made within 12 months of filing.
Other debt relief options in British Columbia.
Please note these services are not offered by Licensed Insolvency Trustees.
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Credit counselling: Credit counselling is a nonprofit service that helps British Columbians who are struggling with their finances. Your credit counsellor can help you with budgeting, financial literacy or managing debt payments through a debt management or settlement plan.
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Debt consolidation: Debt consolidation loans are offered by lenders like banks and combine some or all your debt into a single monthly payment. Aside from reducing your number of bills, debt consolidation loans can also offer a lower interest rate.
Your local BC Licensed Insolvency Trustees
Trusted, regulated, and knowledgeable debt solutions professionals in your neighbourhood.
We’re proud to be in the following British Columbia communities:
We're able to service all of British Columbia via phone or video call. If you don't see your city below, we may still be able to help.
Prince George
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We’re pleased to offer virtual services to residents of Prince George.
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Please call 1 (250) 563-4635 for appointment availability.
Hear from people we’ve helped:
Take the first step to debt freedom
Speak to one of our debt solutions professionals during a free, no-obligation consultation.
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