When your debt becomes insurmountable and alternative forms of debt relief are not appropriate, you may have no other alternative than to file for bankruptcy in Red Deer. At BDO, we understand that financial troubles can happen to anyone, due to job loss, illness, unexpected expenses and many other unforeseen circumstances. We offer professional, confidential debt help and information regarding bankruptcy, consumer proposals and more. Contact a BDO representative today to learn more.
Become financially free today! Contact your local BDO trustee in Red Deer about filing for bankruptcy and see how we can help you.
There are several steps to be taken when filing for bankruptcy
Your trustee will review your financial situation, including information about your income, outstanding debts and assets. After reviewing all the necessary information, we will discuss your options and decide if filing for bankruptcy is the most appropriate next step.
The trustee will notify your creditors. Depending on the size of your bankruptcy claim, a meeting may be called by your creditors. The primary purpose of these meetings is to inform your creditors about the situation and provide them with the details of the matter if they call for it.
As part of your duties, you must attend two counselling sessions. These sessions, held at the trustee's office, are mandatory and are intended to help you understand the causes of your bankruptcy and help you better manage your finances in the future.
The trustee will prepare a report describing your actions during the bankruptcy and will recommend your “discharge” if you have performed all of your duties. Once you receive your discharge, this is the end of the process and you will be released from the debts that were included in your bankruptcy.
Millenium Centre 600, 4909 - 49th Street,
Red Deer, AB T4N 1S6
Get on the road to financial stability with BDO today!