Finding a Great Licensed Insolvency Trustee

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To decide if you are getting good advice from the trustee you work with, you should do your own research and think about what you have learned. This is true with all forms of advice. Here are some tips on how to find and recognize a good Licensed Insolvency Trustee:

  1. Do some research, before you go to your first meeting with a trustee.Read the bankruptcy blog on this site. It contains hundreds of questions and answers about personal bankruptcy in Canada. We also have a wealth of other information, including the bankruptcy process in Canada. By reading the blog and the information on the site, you will have answers to some of your questions in advance. And if you are well-informed, you can more easily differentiate bad and good advice from a trustee.
  2. Get advice from anyone who has gone bankrupt.Any of your friends, family members, or co-workers may have gone bankrupt. Ask what they liked and didn’t like about the bankruptcy process, and questions like:
  3. Write down your questions, before your meeting with a trustee.Many people are slightly uneasy or nervous when they first meet a trustee. They often forget what questions they want to ask. If you write your questions down and bring them with you, you can make sure that all of your questions will be answered.
  4. Think about what the trustee says.Does it make sense? Are you receiving clear answers to your bankruptcy questions? Does the trustee seem interested in your situation, or is he or she more interested in speeding through the meeting?

Remember that all Licensed Insolvency Trustees in Canada are licensed by the federal government and follow a strict code of ethics. They only receive their license after many years of study and personal experience. So you can expect them to:

  • Administer the bankruptcy process fairly and follow all the rules.
  • Give you good, unbiased, professional advice.

Let your judgment be your guide when deciding which trustee is going to be a good Licensed Insolvency Trustee for you. Your comfort and trust in your relationship with the trustee are essential, because it will last at least nine months.

If you are not comfortable with the person you see, or you don’t believe you are getting good advice from a trustee, get a second opinion. There are many trustees in most cities in Canada, so you can talk to other ones until you find one that will be a good Licensed Insolvency Trustee for you.

Click here to contact a Licensed Insolvency Trustee who will provide a free consultation.