Bankruptcy Fredericton Trustees: We wrote this page on bankruptcy in Fredericton to provide individuals who are struggling with debt and who have been considering declaring personal bankruptcy or making a consumer proposal with their creditors valuable information on the insolvency process and to provide the option to contact a trustee to arrange a confidential evaluation for you to discuss your debt issues in confidence with a professional local trustee in bankruptcy.
All of the bankruptcyFredericton trustees that are partners of Bankruptcy Canada are professional members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), which means that they are highly trained and must follow the highest levels of ethical standards. Our trustees are able to provide you with a free initial consultation that is confidential and carries no risk or obligation, and if you are in need of the trustees’ service the trustee can set up a monthly payment plan that will fit your budget.
The bankruptcy law in Canada was written to provide many benefits and rights to individuals facing challenges with debt. One of the main purposes is to give a person, who is facing overwhelming debts, a chance for a new start free of their debts by allowing bankruptcy or a proposal to eliminate debts and stop creditor harassment.
A trustee can be your best source of advice and assistance when looking for a way to handle your debts. A trustee can provide many services to a person in debt besides services related to going bankrupt or entering into a proposal with the creditors to who you owe money. For instance, a trustee can provide help with credit counselling, debt management, an informal proposal with your creditors, and many other debt related services. All trustees are Licensed and regulated by the government.
Bankruptcy Fredericton Trustees – How bankruptcy and consumer proposals work:
Personal bankruptcy wipes out all of a person’s eligible debts usually within nine months. In the vast majority of cases the debtor has no assets that he or she would lose, because their belongings are protected under the bankruptcy exemptions. A Consumer Proposal is for people who want to pay off a portion of their debts (Say 20 or 30 percent) over a period of usually three to five years.
If you still have questions and concerns you can visit our Bankruptcy FAQ page or contact a local trustee in your area for the best possible personalized assistance.
We also have information on your credit rating and how you can get a free credit report, and how to get a credit card and re-establishing credit following bankruptcy.