A. Farber & Partners Inc., 1-844-294-7980
275 First Street, Suite #13, Collingwood, ON L9Y 1A8
When you declare bankruptcy, this implies that you are no longer capable of meeting your financial commitments to your creditor and will not be able to pay back the remainder of your loan to them.
In Collingwood, bankruptcy is regulated under the ‘Bankruptcy & Insolvency Act’ while protects both your rights and the rights of your creditor.
A. Farber & Partners Collingwood, ON Licensed Insolvency Trustee
You do not stand to lose all your assets when you file for bankruptcy in Canada.
In fact, the bankruptcy procedure initiates a stay of proceedings that protects you from:
- Wage garnishment
- Prevents creditors from calling you regularly
- Protects you from legal action that a creditor might take against you
- Protects certain assets (ex: furniture)
- Initiates a debt liquidation process
If you live in Collingwood, Ontario, and are thinking of declaring bankruptcy, then you have to approach a Licensed Insolvency Trustee (LIT) within your locality in order to start the bankruptcy process.
The Canadian government has given only federally Licensed Insolvency Trustees the power to administer cases related to bankruptcy or consumer proposals within the country.
What is the role of a Licensed Insolvency Trustee and how can they help you with bankruptcy in Collingwood, Ontario?
A Licensed Insolvency Trustee is a trained and federally regulated financial expert who specializes in bankruptcy law and has been granted the authority to handle cases pertaining to debt and bankruptcy by the Superintendent of Bankruptcy in Canada.
They must undergo formal education in bankruptcy law, appear before an Oral Board of examiners and have their backgrounds investigated by the RCMP before they are given their trustee license.
If you are looking for a trained financial expert to guide you through the process of bankruptcy in Collingwood, then a local Licensed Insolvency Trustee is the highest and most knowledgeable authority you can find who has the experience and know-how when it comes to permanently removing debt from your life.
A Licensed Insolvency Trustee in Collingwood, Ontario, will also be able to help you with:
- Debt settlements
- Debt consolidation
- Consumer proposals
- Debt consultancy and management
- Alternative solutions to filing for bankruptcy
When you approach a Licensed Insolvency Trustee in Collingwood, Ontario, you will be given confidential, secure and personalized debt relief solutions that are aimed at eliminating debt from your life for the long-term.
A Licensed Insolvency Trustee’s fees are also federally regulated, and this means that the consultation fees you will be charged will usually be much lower than what a non-federally regulated debt consultancy agency will ask of you.
If you want to remove debt from your life for good, then book an appointment with a local Licensed Insolvency Trustee in Collingwood today!