How Bankruptcy Trustees in Calgary Help You Avoid Personal Bankruptcy

In the United States people in over their heads with debt can actually file a bankruptcy on their own, although it is not recommended.  Most use lawyers who specialize in bankruptcy.  In Canada, only the most complicated set of circumstances require the help of a bankruptcy lawyer.  Bankruptcy trustees in Calgary, like trustees throughout Canada, are the professional debt consultants licensed by the government to manage both personal and business bankruptcy filings.

With a professional title like bankruptcy trustee, it is little wonder many residents assume the only thing bankruptcy trustees in Calgary can do for them is help them to file a personal bankruptcy.  Yet the Bankruptcy and Insolvency Act of Canada (BIA) which sets forth the requirements and regulations governing trustees clearly states the first responsibility of a bankruptcy trustee is to counsel anyone who walks through their doors on all available debt solutions.

In effect, what this means is a trustee’s first duty is to help you look for ways to keep you out of personal bankruptcy.  How do bankruptcy trustees in Calgary make that happen?

To get out of debt and back on your financial feet you first have to know the specific details of your current troubles.  How much do you make?  What do you own that could be sold to go towards debt repayment?  How much do you owe?  How much does it cost you to live each month?

The answers to these questions result in an assessment of your financial condition.  If you pick up the phone and caRead more >>