Know the fundamentals of bankruptcy in Scarborough

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 Scarborough. 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 Scarborough.

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

Put debt behind you!

Become financially free today! Contact your local BDO trustee about filing for bankruptcy in Scarborough and see how we can help you.

The process of filing for bankruptcy in Scarborough

When you are about to declare bankruptcy in Scarborough, you should keep in mind that there are several steps involved. Here is an overview of some of the steps BDO will guide you through.

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 Scarborough is the best alternative.

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 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 Scarborough and the debts that were included in the bankruptcy process will be lifted.

Get on the road to financial
stability  with  BDO  today!