Terry Rogers has been with SmytheRatcliffe for over 20 years, heading the firm’s Insolvency Department. He has extensive experience as an insolvency specialist and has successfully structured hundreds of corporate and personal financial reorganizations. Terry enjoys the challenge of coming up with creative solutions to solve a debtor’s financial challenges.
Terry completed a Bachelor of Commerce Degree at the University of British Columbia. He worked with Ernst & Young before joining SmytheRatcliffe in 1983. He has been a Partner since 1992.
Terry is actively involved with the Rotary Club, coaches minor hockey and baseball in Nanaimo and is the Treasurer and on the Board of Directors for the White Rapids Summer Swim Club in Nanaimo.
The initial consultation is free and it's confidential.
The cost of a Powell River bankruptcy
is set by the Government. Our trustees have payment terms available.
You'll find our
Powell River area bankruptcy trustees knowledgeable, helpful and friendly. We'll start by scheduling
a meeting with you to discuss the solutions best suited to your situation. This meeting is free, and it's confidential. We'll help you make the right
decision so you can regain control of your life.
We are available to
assist you in identifying your options and forming a plan to get you
a fresh financial start. Our Powell River area bankruptcy trustees have many ways to assist people with their financial problems. These include:
Consumer proposals;
Budgeting;
Debt Counselling;
Third party settlements with creditors; and
Refinancing.
Important information for your protection from our Powell River bankruptcy trustees:
Although you need a bankruptcy trustee to go bankrupt, bankruptcy is not the only thing bankruptcy trustees can help you with. Our Powell River area bankruptcy trustees are highly trained professionals who will give you the best advice they can even if it means you do not use our services.
Our Powell River area bankruptcy trustees are licensed and regulated by the Federal Government and subject to stringent codes of ethics. Bankruptcy trustees are the only debt professionals who can providea full range of financial solutions.
Furthermore, bankruptcy trustees are theonly debt professionals who can guarantee that you will get protection from your creditors.
Our experienced financial counsellors help people manage and resolve severe financial problems. We understand how stressful this situation can be and know how to help. Our goal is to guide people through a very difficult time and help them move towards a brighter, more financially secure future.
All our bankruptcy trustees are members of provincial and national professional associations. We honour and respect the Codes of Ethics of these associations and The Superintendent of Bankruptcy.
If a Powell River bankruptcy or a Powell River proposal is your best option for getting a fresh financial startyou are allowed
to keep up to $31,000 of personal assets as follows:
Equity in a home in Greater Vancouver and
Victoria = $12,000. In the rest of the province = $ 9,000;
Equity
in Household items = $ 4,000;
A vehicle exemption is available only if the value of the vehicle does not exceed $5,000; The vehicle exemption drops to $2,000 if the debtor is behind on child care payments (to facilitate the enforcement of Maintenance Orders)
Equity
in work tools = $ 10,000;
Equity
in essential clothing and medical aids is unlimited.
BC Harmonized Sales Tax Credit (BCHSTC).
To help offset the impact of the new tax on low-income residents, the province is introducing a new refundable credit program called the BCHSTC. The BCHSTC is an ongoing non-taxable quarterly payment that will be integrated with the Goods and Services Tax Credit (GSTC) and the British Columbia Low Income Climate Action Tax Credit (BCLICATC) payments starting in July 2010.
The Climate Action Tax Credit is exempt from seizure by the trustee. However, the GST/HST tax credit and the BCHSTC will be available to the trustee to the amount necessary to cover trustee fees.
Filing
a Powell River bankruptcy or a Powell River proposal will stop actions by creditors such as:
Collection Calls;
Canada Revenue Agency (CRA);
Garnishee
of your pay; and
Creditors
seizing your assets.
Please
note that this is general Powell River bankruptcy information as well other debt solution options, and does not replace the specific
details that need to be discussed in a meeting with one of our Powell River bankruptcy trustees. Some other issues may include being judgement proof, co-signers, the effect
on your spouse, separation between spouses, surplus income guidelines,
stay of proceedings, and income
tax consequences.
Most of the people who file a Powell River bankruptcy or a Powell River proposal are good, honest, hard-working people who file as a last resort after months or years struggling to pay the bills left over from some catastrophic event or set of circumstances. It can be because of a divorce, the loss of a job, a failed business venture, a serious illness, or some family emergency, or because the person honestly and mistakenly fell into debt at a young age before they knew better, and before they knew anything about budgeting or how to manage money.
BC's bankruptcy laws are designed to permit an honest but unfortunate debtor to obtain a discharge from his or her debts while treating creditors equally and fairly.
In 2009 more than 115,000 individuals in Canada filed for personal bankruptcy or filed a proposal.
Terry Rogers: Chartered Insolvency & Restructuring Professional, Trustee in Bankruptcy.
