Can a Trustee Force Me Into Bankruptcy? - Bankruptcy Canada

Can a Trustee Force Me Into Bankruptcy?

Can I be forced into bankruptcy is a worry many debtors have.

Fortunately, the answer to “Can a Trustee Force Me Into Bankruptcy” is no!

Need Help Reviewing Your Financial Situation?
Contact a Licensed Trustee for a Free Debt Relief Evaluation

Call 877-879-4770

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The role of the Trustee is to listen to a debtor’s situation and explain the options available.

The Trustee will assist you with the process of bankruptcy or a proposal only if you make the decision to proceed.

The Trustee does not have the power to force anyone to declare bankruptcy or make a consumer proposal.

A person might believe that bankruptcy automatically occurs if they become insolvent, however this is not true.

You must decide to file bankruptcy.

You Have Control When Seeing a Trustee

Although the Trustee will suggest certain options for dealing with your debt to you, the final decision is up to you.

You will be able to decide whether going bankrupt or making a proposal is right for you.

Is it Possible To Force Someone Into Bankruptcy?

In very rare cases, the court can petition someone into bankruptcy.

For debtors with consumer debt this is very unlikely, as your creditors would rather you continue paying them.

Generally, a company with large assets will be petitioned into bankruptcy.

Consumers do not need to worry about their creditors petitioning them into bankruptcy.

The court process is timely and consuming and your creditors don’t want to see you go bankrupt.

Need Help Reviewing Your Financial Situation?
Contact a Licensed Trustee for a Free Debt Relief Evaluation

Call 877-879-4770

or

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