The Basics of Bankruptcy in Sudbury

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 Sudbury 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 BDO to speak with one of our representatives about bankruptcy in Sudbury.

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Become debt free today.

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

Bankruptcy Process: What you should expect

When you are about to declare bankruptcy in Sudbury, 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.

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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 Sudbury 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

When filing for bankruptcy in Sudbury, you are obligated to attend two mandatory counselling sessions. Held at the trustees office, these sessions are designed to help you better understand the situation that cause debt, and the solutions you can use in the future to manage it.

Receiving your discharge When you have fulfilled the obligations of the bankruptcy process you will receive your bankruptcy discharge. This means that all of your debts are wiped out and you will be debt free and on the road to financial stability.

Get on the road to financial
stability  with  BDO  today!