If you are dealing with impossible levels of debt, you might think that bankruptcy is the only way forward.
However, it’s important to be aware that you can also consider a consumer proposal.
To decide which choice is right for you and get started with this process you will need to contact a Licensed Insolvency Trustee.
Here’s how to choose the right trustee for your needs.
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Are They Licensed By The Federal Government?
It’s important to note that all trustees are going to be licensed by the Federal government.
So, what you really need to determine here is whether you’re actually dealing with a trustee.
You could be instead of dealing with an unlicensed debt consultant.
These can be the middlemen and will charge you a fee before passing you off to an actual trustee.
Don’t fall into this trap.
What Information Will You Need For Your Consultation?
You should provide your trustee as much information as possible to ensure that they can provide you with the right advice.
Some of the information worth taking with you includes details of your assets, debts, and of course your monthly income.
If a trustee doesn’t ask you to bring this information to the consultation, you shouldn’t expect a particularly productive encounter.
It will all be necessary when determining the right path to take.
When Will You Meet Your Licensed Bankruptcy Trustee?
In some cases, you might find that a licensed bankruptcy trustee is not a main part of the equation.
Instead, you could find that you deal with a ‘sales individual’ and a trustee is only brought in when you are completing the paperwork.
Ideally, you should be looking for a service where you are provided real time with your trustee.
This will ensure that you can guarantee that you are making the right choice with the service that you choose.
They will discuss options with you in detail and ensure that you know all your choices.
Who Will Be Handling The Claim After You Have Filed?
You should make sure that a trustee is providing you with contact information so that you can always access someone who can assist you and provide the support that you need.
Ideally, you should be provided with names and numbers so that you can speak with someone who you feel comfortable with and who you have dealt with before.
What Help Will You Receive Once You Are Discharged?
By law, a trustee must always provide you with counseling sessions.
However, some trustees will provide additional support and assistance to their clients.
They will offer advice on how to rebuild credit and even provide free budgeting advice too.
Find Out More Now
Are you already struggling with insurmountable debt and curious about your options?
If so, then we can help.
We have supported more than 100,000 Canadians on their journey to debt relief and we’re confident we can help you too.
Contact us now or fill out a free evaluation form and a friendly member of our team will get back to you without delay.