Bankruptcy New Brunswick – Licensed Insolvency Trustees
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Personal Bankruptcy in New Brunswick
Bankruptcy Trustees are highly ethical professionals who are well trained and are concerned about the best interests of their clients. NB Bankruptcy trustees are regulated by the government, so trustee fees are controlled and they must abide by their code of ethics at all times.
Making a consumer proposal or filing bankruptcy can be a quicker way of rebuilding your credit score than by working with a credit counsellor or another debt relief professional.
NB Insolvency laws are provided so people with unbearable debt can get a new start. Under New Brunswick Bankruptcy law a person can file bankruptcy, or they may make a consumer proposal to their creditors with the help of a bankruptcy trustee. If you decide to file for bankruptcy you can receive a discharge of your debts within as little as 9 months; a bankruptcy will cost about $1,800 spread out over the 9 months.
A proposal is an agreement you will make with your creditors to repay a portion of your debts (possibly 30 percent) over a three to five year period.
Because there are alternatives to bankruptcy and the rules of what assets you can keep are different in every province, it is important that you discuss your finances with a trustee before making the decision to file.
Our listed trustees in bankruptcy are experts at the NB insolvency law and are regulated by the federal government. When you deal with a trustee you know you are dealing with a professional who has your best interests at heart and who is highly ethical. Our trustees are pleased to answer your questions about New Brunswick insolvency.