Understanding the Basics of Bankruptcy in Halifax

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 Halifax may be your best option. BDO understands there are many factors that can affect you when it comes to financial debt, whether unforeseen or too difficult to manage. We offer you professional debt solutions regarding bankruptcy, consumer proposals and more. Contact a BDO representative today about filing for bankruptcy in Halifax.

Call BDO today for advice and information on bankruptcy in Halifax.

Put debt behind you!

Reclaim your financial freedom! Talk to your local BDO representative about bankruptcy in Halifax and what we can do for you.

The process of filing for bankruptcy in Halifax

There are several major steps involved in the process when declaring bankruptcy in Halifax. Listed is a brief overview of the process from BDO.

Arrange a complimentary meeting/appointment

Our representatives will begin by assessing your financial situation and gathering information on your income, outstanding debts and assets. Following this review, our representatives will have a better idea of your circumstances and help you make an informed decision about filing for bankruptcy in Halifax.

Creditors are notified

Your trustee will send a notice to all of your creditors, advising them that you are no longer able to make payments to them. The creditors will then have 45 days to consider the offer. During this time you do not have to make any payments to your creditors.

Credit counselling

You must attend two mandatory counselling sessions. Both of these sessions are held at the trustee’s office and are mandatory for the bankruptcy process. These counselling sessions will help you understand how to budget better and manage your finances.

Receiving your discharge

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.

Get on the road to financial
stability  with  BDO  today!