Evaluate your immediate problem such as total debt, collection problems, garnishees, judgments, creditor pressure
Determine your overall financial situation and your ability to pay;
Review your rights and responsibilities as well as what rights and responsibilities your creditors' have.
Provide you with options such as . managing finances better, budgeting, debt consolidation, orderly payment of debts, proposal to creditors and bankruptcy.
Make sure you understand all of the options available
Recommend certain options over others.
You should ensure that your Bankruptcy Trustee is fully qualified and accredited by the Federal Government's Superintendent of Bankruptcy
What is a Trustee in Bankruptcy?
Trustees administer consumer bankruptcies, and formal and informal proposals.
The Trustee will give you information and advice about both consumer proposals and/or bankruptcy processes.
He/she will make sure that your rights, as well as those of your creditors, are respected.
Trustees also provide financial counselling, debt management and handle negotiation with creditors
ABSOLUTE MUSTS FOR YOUR FIRST MEETING WITH YOUR TRUSTEE:
Ask the Trustee what documents will be required for your initial assessment meeting to save time.
Your Trustee must have the following documents and information to properly evaluate your situation.
You must provide all the needed documents in order to proceed with solving your financial problems
What is a Trustee in Bankruptcy.
Why do you need one?
Bankruptcy law says you are required to retain a bankruptcy trustee to handle all consumer bankruptcies including your financial affairs.
Once you declare bankruptcy all debt is frozen, creditors must stop harassing you instantly. All collection calls and notices must end.
Your creditors must deal with your trustee, not you. Your financial problems and money problems are solved. The trustee will stop garnishees.
If you have bad credit, missed payments, no savings, no money to speak of, or are over your credit limits and living on overdrafts, you need to consider bankruptcy. Talk to a bankruptcy trustee. You will be glad you did.