The Role of the Official Receiver in Bankruptcy
Since bankruptcy is covered by Canadian legislation, there are multiple different professionals dealing with the different aspects of the proceedings.
The Official Receiver is one of these people, tasked with managing aspects of your bankruptcy while also being an officer of the court.
These professionals are trained in finance and understand the operations of all aspects of the bankruptcy process.
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Roles & Responsibilities
These government workers are a part of the Office of the Superintendent of Bankruptcy.
Since each province has its own regulations and procedures for bankruptcy, they all have different Official Receiver professionals.
Generally, there is more than one Official Receiver per province, though this largely depends on population density.
Working as a court officer, their tasks fall within the realms of insolvency and bankruptcy – all falling under both provincial and federal law.
On a day to day basis, these professionals are tasked with intaking paperwork related to bankruptcies or consumer proposals.
In addition to chairing meetings with creditors, they also go through the bankrupt consumer’s causes for bankruptcy.
While the words ‘Official Receiver’ may sound intimidating due to the nature of the situation, they are also the individuals who consider the human aspects of your bankruptcy.
Reassuring Considerations
In large strokes, the Official Receiver does not really impact the bankruptcy proceedings.
In fact, few bankrupt individuals ever actually interact with the Official Receiver working on their file.
Typically, everything you need to encounter works through your Licensed Insolvency Trustee.
Of course, if you have any inquiries about the Official Receiver – or anything else to do with your bankruptcy – reach out to your Licensed Insolvency Trustee.
These are trained professionals who offer confidential insights on your financial file.
Ultimately, the goal is to manage your debt so that both you and your creditors can move on towards the future.
Canadian Bankruptcies
How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?
