Know the fundamentals of bankruptcy in Orillia

If your debt has become unmanageable and it seems that no other form of debt help can offer relief, it may be time to consider filing bankruptcy in Orillia. 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 BDO to speak with one of our representatives about bankruptcy in Orillia.

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

Break free from debt today

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

Bankruptcy in Orillia

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

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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 Orillia 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

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.

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