power of creditors / trustee

April 26th, 2009 by Questions

Does the trustee and/or the creditor(s) have legal right to request bank records, ask for employee records or anything of that nature? Or does this remain anonymous throughout the process?

Posted from: British Columbia


One Response to “power of creditors / trustee”

, A licensed trustee said:

They most ceratinly do have the right to look at any/all books and records that you may possess. When you file for bankruptcy you assign (sign over) your financila rights to your trustee. That means that your trustee has the same right to any information/books/records that you have. The safety valve is that your trustee may only use that knowledge to administer your bankruptcy.

You may be thinking that this seems unfair – well, if want relief from your debts (which your creditors find unfair) you have to submit to the rules and regulations of the Bankruptcy and Insolvency Act. If you don’t comply then your debts will not be discharged.

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