Difficulty finding GOOD advice

January 28th, 2009 by Questions

I am the proprietor of a small business. I have debts of about $160,000 (mostly to CRA, some line of credit and credit card debt). My annual income is approx. $75,000 but is increasing each year. I have seen 3 accountants and 1 Licensed Insolvency Trustee and received wildly differing advice on my best course of action. I felt the trustee I saw may not have had my best interests in mind while encouraging me to go bankrupt. One of the accountants barely listened to me as I went over my situation. Where can I find someone competent to advise me? Is my case clear (bankrupt – no questions asked)?? Thank you for your time.

Posted from: Alberta


One Response to “Difficulty finding GOOD advice”

, A licensed trustee said:

I am sorry that you are receiving different advice from different professionals. There’s an old Chinese proverb that says, “Man with one watch always knows what time it is, man with two watches is never certain..”

Seriously, there is no way to be certain that you are receiving good advice – the only thing that I have found that helps in the past is asking family and friends for referrals to people that they have seen (and even this doesn’t work all that often…).

If you’re looking for some suggestions, ask them how many people they deal with each month, how many small businesses they have helped, how often do the people they assist end up in Court? Spend a few minutes on the phone pre-screening and then go and see the people that seem to be listening to what you say and that convey a helpful attitude.

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