I don’t really know whether to speak to a bankruptcy trustee or a lawyer. Is there really a difference? Which would be the better option? I am going through a terrible time and I can’t seem to think straight anymore.
Sorry to hear about this. I went through a similar thing myself, so I can sympathize with you. Hang in there. You can build your life again. It takes time and seeing the right people. I would advise you to see a bankruptcy trustee. Actually, they are now called Licensed Insolvency Trustees. There is a difference. They can actually do a lot more for you.
A Licensed Insolvency Trustee is definitely a better option. Not only are they highly qualified, they even have more power in this than lawyers do.
By all means, you can see a lawyer too. However, when it comes to this, it is more advantageous to see a Licensed Insolvency Trustee to help you during this difficult period.
I actually contacted Harris & Partners for help and it really helped me turn my life around eventually. They can give you more advice and help than you realize.
Both are good professionals, but I have to say that a Licensed Insolvency Trustee would be my choice as well. Both can help in different ways though.
With a Licensed Insolvency Trustee, your financial situation can be thoroughly and accurately assessed. Plus, you also get quality financial counselling. In fact, they can open up your eyes to the other options you may have available. This means that it is not always necessary to file for bankruptcy. Only they will know best.
They can also check to see if the claims made by creditors are genuine. It is not always the case. You cannot trust that the creditors are always telling the truth!
Your trustee will be able to advise you on the rules, regulations and procedures involved. They can also give you a better idea of what you can expect.
Your trustee will also prepare the right documents for you. He or she will also notify all of your creditors. This should stop them contacting you or harass you with phone calls.
Contact a Licensed Insolvency Trustee. They are experts in this. A bankruptcy lawyer can’t file for bankruptcy. Only your trustee can do this. In fact, I would think there is no point in even seeing a bankruptcy lawyer, especially in Ontario. You see, even if you did have a bankruptcy lawyer, you are required to file this only through your Licensed Insolvency Trustee.
So, I suggest not wasting your time and money on seeing a lawyer for this. Your trustee can help you with the right financial solution that is specific to your situation.
Remember, you do not always have to file for bankruptcy. I really think you should speak to a Licensed Insolvency Trustee first.
No two cases are the same. Your trustee can help you to find a viable alternative, should there be one. For now, don’t assume anything, because you really don’t know. But contact a trustee, not a lawyer.
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