A. Farber & Partners Inc., 1-844-294-7980
3660 Hurontario Street, Suite 305, Mississauga, Ontario, L5B 3C4
If you’re losing sleep over the amount of debt you’ve accumulated over the years, you’re not alone.
The number of Canadians filing for bankruptcy each year is proof of just how necessary the services of a Licensed Insolvency Trustee are.
In Canada, the process of filing for bankruptcy is governed by the Bankruptcy and Insolvency Act and necessitates the use of a Licensed Insolvency Trustee.
A. Farber & Partners Mississauga, ON Licensed Insolvency Trustee
If you’re struggling with debt, you’re eligible to apply for bankruptcy if you’re a resident of Canada and you’re unable to pay your bills, owing $1000 or more in debt.
When should you consider applying for bankruptcy?
Bankruptcy is the most sensible option for you if:
- You’ve been using your credit card for daily purchases and risk having it revoked.
- Your wages have been garnished.
- Creditors have been threatening to take legal action against you and won’t stop sending you collection letters or making phone calls.
- Your health is deteriorating because of your financial worries.
How can using a Licensed Insolvency Trustee help?
A Licensed Insolvency Trustee is sanctioned by the Office of the Superintendent of Bankruptcy in Canada to administer the legal proceedings involved in debt solutions and protect your rights as well as the rights of your creditors.
A Licensed Insolvency Trustee will:
- Review your financial situation carefully to provide you with a personalised debt solution that works for you. If filing for bankruptcy isn’t necessary, they can guide you on other debt solutions and administer the legal proceedings involved for those.
- Get your documents in order and file them with the Office of the Superintendent of Bankruptcy in Canada.
- Explain the step by step process of filing for bankruptcy to you, including what your duties are during the bankruptcy.
- Explain to you which debts you’ll be free of after you file for bankruptcy and which debts you’ll still be required to pay once you file for bankruptcy.
- Deal with your creditors directly on your behalf so that you stop receiving collection letters and phone calls and are protected from any legal action being taken against you.
- Clarify any doubts and misconceptions you may have regarding bankruptcy.
- Collect payments on your behalf and calculate surplus income payments.
- Collect your lost assets and sell them to distribute the fund to your creditors.
Our team at Farber Licensed Insolvency Trustee in Mississauga, ON can help you out with your debt troubles and assist you in the right direction so that you can get a fresh financial start.
Book yourself a free consultation in Mississauga, ON with our friendly and experienced team today to get started.