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DO NOT WORRY. You are not the only one having financial difficulties. Over 70,000 individuals, each year, face this situation and decide to consult with a Trustee to find the right solution to their problems.
WHO IS A TRUSTEE IN BANKRUPTCY? A Trustee is an individual or a corporation licensed by the Federal government to conduct the bankruptcy process while representing the mass of creditors, even though he is chosen by the bankrupt.
A Trustee is an officer of the court who assures the rights of the creditor and of the debtor are respected.
All Trustees are governed by the BANKRUPTCY AND INSOLVENCY ACT. A Trustee cannot be discharged from his administration of an estate without court and/or Official Receiver’s approval, who will review the Trustee’s administration, including his fees and disbursements.
Many warning signs exist to identify financial difficulties. If you answer yes to one or more of the following questions, you should think about contacting one of our professionals to evaluate your financial situation. WARNING SIGNS
- Do you borrow money to make ends meet?
- Do you postpone payment of certain of your monthly obligations (rent, insurance, etc.)?
- Do you only pay the minimum amount required on credit cards?
- Do you use your credit cards for life necessities (groceries, etc.)?
- Have you reached or exceeded the limit on your credit cards?
- Do your creditors harass you to receive payment?
- Have you received threats of being sued or having your assets seized?
WE OFFER A FREE INITIAL CONSULTATION
To help you obtain a quick REVIEW AND EVALUATION of your FINANCIAL SITUATION, we suggest that you immediately complete our online budget. If you complete and honour your budget, your spending will be controlled and you will avoid impulsive purchases. Here are a few practical tips to help you gain control of your financial situation:
- Carefully consider the purchase of goods and services;
- Evaluate the real need of your purchases;
- Take advantage of sales;
- Avoid impulse buying;
- Learn how to negotiate;
- Do not buy on credit what you cannot or will not be able to pay cash.
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