Understanding the Basics of Bankruptcy in Stoney Creek

If debt is starting to majorly affect all aspects of your life, and your options for debt support seem slim, filing for bankruptcy in Stoney Creek 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 professional, confidential debt help and information regarding bankruptcy, consumer proposals and more. Contact a BDO representative today about filing for bankruptcy in Stoney Creek.

Contact your local BDO to learn more about bankruptcy in Stoney Creek.

Put debt behind you!

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

What to expect during the bankruptcy process

There are several major steps when beginning the process for filing for bankruptcy in Stoney Creek. Listed is an overview of the BDO bankruptcy process.

Make a complimentary appointment

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 Stoney Creek is the most appropriate.

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

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

Get on the road to financial
stability  with  BDO  today!