What does a Trustee do?

The Trustee will work with you to form a plan, walk you through it, and help you stick to it.In Canada, all bankruptcy claims must be filed through a trustee. Here are some steps involved:

• You inform the trustee of the things that you own and all the debts that you owe.
• Control of your non-exempt assets is given to the Trustee.
• The Trustee notifies your creditors of the bankruptcy.
• A meeting with your creditors may be held.
• The Trustee realizes on the assets under his control and distributes funds to the creditors.

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