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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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trustee judgement calls

I may soon have to file for bankruptcy due to disability. Although I have read on your site that the trustee is like a referee making sure all is fair, I also realize that many areas will come down to a judgement call by the trustee. This makes me feel very uncomfortable if it is a fact that the more a trustee can liquidate; the more he personally profits. Can you make me feel more comfortable about this area.

Posted from: Ontario

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One Response to “trustee judgement calls”

Barton Goth GCO Bankruptcy Trustees said...

There is not much discretion permitted to a trustee over what they will liquidate. Each province sets a list of property that is considered exempt or is protected when one files for bankruptcy. So the trustee doesn’t pick and choose what assets of yours they are going to sell, it is determined by legislation. I think you would be best to contact local trustee and let them discuss this with you. I think you will find that most trustee’s are quite reasonable.