Bankruptcy in Barrie: Knowing the process

When your debt becomes insurmountable, and forms of counselling and debt solutions seem oblique, you may have no other alternative than to file for bankruptcy in Barrie. At BDO, we recognize there are multiple factors that can lead to financial troubles, whether loss of employment or unperceived situations; we understand. We offer professional, confidential debt help and information regarding bankruptcy, consumer proposals and more. Contact BDO to speak with one of our representatives about bankruptcy in Barrie.

Contact your local BDO to learn more about bankruptcy in Barrie.

Break free from debt today

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

What you should expect in regards to the bankruptcy process.

When declaring bankruptcy in Barrie there are several steps involved in the process. Here is a brief overview of the bankruptcy process from BDO.

Make a complimentary appointment

Our trustees will review your financial situation and gather information on your income, assets, and outstanding debts. After reviewing all these factors, our trustees will sit with you and confirm that filing for bankruptcy in Barrie is the best alternative.

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

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

Our trustees will prepare a report outlining your actions during the bankruptcy process and will recommend your “discharge” if you have completed and performed all your duties. When you have received your discharge, this will complete the process for filing for bankruptcy in Barrie and the debts that were included in the bankruptcy process will be lifted.

Get on the road to financial
stability  with  BDO  today!