Understanding the Basics of Bankruptcy in Montreal

If your debt has become unmanageable and it seems that no other form of debt help can offer relief, it may be time to consider filing bankruptcy in Montreal. 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 speak with one of our representatives about bankruptcy in Montreal.

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

Break free from debt today

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

What you should expect in regards to the bankruptcy process.

When declaring bankruptcy in Montreal 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 Montreal.

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

When filing for bankruptcy in Montreal, 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

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

Get on the road to financial
stability  with  BDO  today!