Bankruptcy Longueuil, Québec
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With most bankruptcy situations, your primary interaction will be with the trustee. They will handle the legal side of the equation.
Here are some of the common duties of a Licensed Insolvency Trustee:
A Licensed Insolvency Trustee will be tasked with handling matters of the estate. This could refer to your primary residential property, your other homes, or business properties. When handling material assets, the trustee will be charged with distinguishing between exempt and non-exempt assets. The exempt assets will remain in your possession, while the non-exempt assets are usually given to banks or creditors to help pay off your owed debts.
The purpose of the Licensed Insolvency Trustee is to look at the broader picture when it comes to your assets. You will provide us with all the information relative to your case. In this matter, it is important to be completely honest. Withholding details will only complicate the process and prevent an efficient conclusion.
Trustees often set up meetings between the debtor and creditors. This allows both sides to lay their cards on the table. You can be upfront about how much money you have and what debts you can pay off. The remaining debts are usually paid off with non-exempt assets or get waived through the bankruptcy filing.
With our Licensed Insolvency Trustees Longueuil team, you can be sure that your case will be managed in the best manner possible.