Falling into a difficult financial situation is a major source of stress that can potentially undermine personal and professional life. This is why, faced with a financial impasse, the debtor often feels helpless and doesn't know where to start to put an end to the problems that plague him. The help and support of a professional in bankruptcy and insolvency then becomes essential to enable him to easily plough through the financial pitfalls.
First and foremost-that is, before making an appointment with an insolvency trustee (formerly known as a trustee in bankruptcy)-make sure that the latter holds a license to act in this capacity. This will save you unnecessary steps and needless costs. Under the law, only a licensed trustee can administer a consumer proposal or bankruptcy. To find out if a professional is legally authorized to perform these tasks, you can contact the Office of the Superintendent of Bankruptcy Canada.
After you have made sure that the trustee you have chosen is licensed, it' s time to make an appointment with this professional. When you call for an appointment, a date will be set for a first meeting. We suggest that you have paper and pen on hand for taking notes, or a tablet, because you will be asked to bring certain documents.
During this first meeting, rely on your instincts, because it is essential that you have confidence in your trustee, as you will have to tell him about important aspects of your life. You will disclose financial, professional and personal information to him that even your loved ones may not know. The trustee will make certain decisions that will have a direct impact on your life. That's why you need to have great confidence in him. In addition, since you will be meeting with your licensed trustee more than once, it is essential that you feel comfortable with this person.
Under normal circumstances and at all times at Poupart Trustee, the first consultation is free of charge. This is the first step towards paying off your debts. This first meeting provides an opportunity to take stock of your financial situation. The bankruptcy and insolvency professional will inform you of the solutions available to you, as bankruptcy is not the only solution to debt problems. A consumer proposal, a voluntary deposit and debt consolidation are various ways to once again achieve sound management of your finances.
Given the importance of finances in everyday life, it is important to know that you can count on a professional at all times. Your trustee should ideally be able to offer you this service. Even if the number of meetings scheduled with him is about two, it may be useful to be able to contact him in case of an emergency, for example, in the event that a creditor might be tempted to seize your property, despite your efforts with a trustee who is protecting you from this.
The professional in the office you choose will inform the Office of the Superintendent of Bankruptcy of your consumer proposal or bankruptcy. The law requires the person handling your insolvency file to provide you with a written copy of all documents related to your file. The deadline for sending you these documents is ten working days after filing them in the case of a consumer proposal, and five days in the case of bankruptcy. It is essential that you receive these documents, since they concern your financial situation.
Need help? Contact us to get all the answers to your questions and put an end to your worries, in so doing.