When someone files bankruptcy, whether of your own choosing or not, it isn’t an ideal nor an overly pleasant situation. Even if it is the best option for you and can actually improve your day-to-day life, the social stigma of bankruptcy is felt very keenly by many people. It is desirable, then, for the process to go as smoothly as possible, and choosing the right bankruptcy trustee is an important part of this.
So, before you visit a trustee in Ontario, make sure you do a bit of research in order to familiarize yourself with the major factors involved in filing for bankruptcy. Also, if you know anyone who has gone bankrupt, ask them about their experience. Were they happy with their trustee? Were they able to stay out of debt after they discharged their bankruptcy? What changes did they have to make to do so?
When you meet with a trustee, be sure to bring a written list of questions with you so that you won’t forget anything important that you wanted to ask (see Questions for a Trustee). Your first visit to a trustee to talk about bankruptcy may have you feeling uncomfortable. It’s easy to forget things in this situation.
The first consultation with a trustee is free, so use the meeting with a potential trustee to ask questions about possible solutions, what’s involved, and what you can expect to face. The trustee’s responses will help you to decide if this is the person you feel comfortable going through the bankruptcy or consumer proposal process with.
If you’re considering bankruptcy, contact us today for a free consultation. We are here to explain the process and to help you decide what the best option is for you.
