Bankruptcy in Red Deer: Knowing the process

If financial debt has gotten out of control in your life and it seems additional and alternative options are not providing the solutions you need, filing for bankruptcy in Red Deer may be your best option. At BDO, we recognize there are multiple factors that can lead to financial troubles, whether loss of employment or unperceived situations; we understand. We can offer you confidential and tailored solutions to filing for bankruptcy and a consumer proposal. Contact a BDO representative today about filing for bankruptcy in Red Deer.

Book an appointment or call to learn more about bankruptcy in Red Deer from BDO.

Break free from debt today

Become debt free sooner! Contact a BDO representative today about filing for bankruptcy in Red Deer and let us help you manage your debt.

What to expect during the bankruptcy process

There are several major steps when beginning the process for filing for bankruptcy in Red Deer. 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 Red Deer is the most appropriate.

Creditors are notified

The trustee will notify your creditors. A meeting of creditors may be called, depending on the size of your bankruptcy or if your creditors call for a meeting. The main purpose of this meeting is to give your creditors a chance to learn the details of your situation and give directions to the trustee if they wish.

Credit counselling

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.

Receiving your discharge

Our trustees will recommend your discharge after the necessary duties have been completed and a report has been finalized summarizing your actions and the bankruptcy process. When you have received your discharge, the process will be closed and your debts erased (as included in your bankruptcy).

Get on the road to financial
stability  with  BDO  today!