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What is a Bankruptcy Trustee?

In Canada, bankruptcy trustees are legal and financial advisors who assist you in not only filing for bankruptcy, but also reviewing your financial situation to help you resolve your debts. In other words, the role of the trustee in bankruptcy is to help you understand your options, review your finances, make the appropriate decisions, and fill out the paperwork that is necessary to complete the process from start to finish.

Here are just a few of the steps of the process that bankruptcy trustees in Calgary can help you with:

• A review of your assets, as well as your obligations and debts, to determine your eligibility for bankruptcy in Canada.

• A bankruptcy trustee can take control of your non-exempted assets (like a home or qualifying automobile) and help you to liquidate them to satisfy debts.

• A trustee in bankruptcy will inform your creditors that you have filed for bankruptcy and begin proceedings and negotiations with them on your behalf.

• A bankruptcy trustee will handle sales, payments, and the distribution of funds to your creditors to ensure that your outstanding obligations are met.

Each of these is a very important responsibility, which is why it is so important that you choose a bankruptcy trustee in Calgary that is willing to take the time to understand your situation and find financial solutions that work for you. Just because you have felt overwhelmed by debt in the past does not mean that financial difficulties have to ruin your future.

Deciding whether to file for bankruptcy in Canada is a big decision, and you should explore all of the options available to you first. At Hudson and Company, we have decades of experience with bankruptcy in Calgary, and can help you navigate your way through all of the issues you will need to resolve. Call us today at 403-265-HELP (4357) to schedule a consultation with one of our debt specialists.