Kelowna, British Columbia


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      Kelowna, BC
What Happens in a Typical Debt Relief Assessment?
Posted on by Dustin Joslin

There are two mandatory debt relief assessment sessions whenever anyone takes an action under the Bankruptcy and Insolvency Act. The first session has to take place between 10 and 60 days after filing a Consumer Proposal or Bankruptcy and the second session must occur not less than 30 days after the first and not more than 210 days after filing.

The first assessment deals mainly with financial issues. We talk about budgeting, financial planning and how to monitor and analyze income and expenses. We also discuss ways that debtors can rebuild their credit and we ask you to prepare a budget for that session that we will review with you for overall reasonability.

The second assessment includes a review of everything discussed at the first session and we delve into possible non financial causes of the insolvency. Depending on what we learn in this session, we can direct debtors to various third party agencies who will have the necessary expertise to help people deal with their challenges. We also ask debtors to prepare a budget for this session that we will again review for overall reasonability.

If debtors do not attend both mandatory assessments, they will not be eligible for either the automatic discharge from bankruptcy or a certificate of full performance in a consumer proposal. In other words, these assessment sessions cannot be missed without consequences.

For more information on the debt relief assessment process, please contact us. We are here to help you find the debt relief option that works best for you.