The Basics of Bankruptcy in Whitby

If debt is starting to majorly affect all aspects of your life, and your options for debt support seem slim, filing for bankruptcy in Whitby may be your best option. At BDO, we understand that financial troubles can happen to anyone, due to job loss, illness, unexpected expenses and many other unforeseen circumstances. 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 Whitby.

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

Put debt behind you!

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

What to expect during the bankruptcy process

When you are about to declare bankruptcy in Whitby, 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

The Trustee will review your financial situation and ask for information about your income, your assets and your outstanding debts. After reviewing your information the Trustee will discuss your options and confirm that filing for bankruptcy in Whitby is the most appropriate solution.

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.

Get on the road to financial
stability  with  BDO  today!