Understanding the Basics of Bankruptcy in Calgary

If debt is starting to majorly affect all aspects of your life, and your options for debt support seem slim, filing for bankruptcy in Calgary may be your best option. BDO understands that financial debt can happen to anyone, whether because of unexpected expenses or unforeseen circumstances. We offer you professional debt solutions regarding bankruptcy, consumer proposals and more. Contact your local BDO to learn more about bankruptcy in Calgary.

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Become financially free! Talk to a BDO trustee near you for information on filing for bankruptcy in Calgary and see how we can help you become debt free.

Bankruptcy Process: What you should expect

There are several major steps when beginning the process for filing for bankruptcy in Calgary. Listed is an overview of the BDO bankruptcy process.

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Your trustee will review and look over your financial situation and will require information on your income, outstanding debts and assets. After reviewing all your necessary information, we will discuss your alternative options and decide if filing for bankruptcy in Calgary is the most appropriate.

Creditors are notified

Our trustee will notify your current creditors. A meeting of creditors may be called, depending on the size of your financial claim or bankruptcy claim. The main purpose of the meeting is to inform both you and your creditors about the details of the file and provide direction to the trustee if needed.

Credit counselling

When filing for bankruptcy in Calgary, you are obligated to attend two mandatory counselling sessions. Held at the trustees office, these sessions are designed to help you better understand the situation that cause debt, and the solutions you can use in the future to manage it.

Receiving your discharge When you have fulfilled the obligations of the bankruptcy process you will receive your bankruptcy discharge. This means that all of your debts are wiped out and you will be debt free and on the road to financial stability.

Get on the road to financial
stability  with  BDO  today!