Understanding the Basics of Bankruptcy in Sault Ste. Marie

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 Sault Ste. Marie 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 BDO to talk with a trained financial specialist about your options for bankruptcy in Sault Ste. Marie.

Book an appointment or call to learn more about bankruptcy in Sault Ste. Marie from BDO.

Live debt free now!

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

What you should expect in regards to the bankruptcy process.

When declaring bankruptcy in Sault Ste. Marie there are several steps involved in the process. Here is a brief overview of the bankruptcy 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 Sault Ste. Marie.

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 Sault Ste. Marie and the debts that were included in the bankruptcy process will be lifted.

Get on the road to financial
stability  with  BDO  today!