While filing for bankruptcy can give you a new lease on your financial life, the process comes with certain responsibilities. Before you file for this legal proceeding, your licensed insolvency trustee will take you through your duties, as well as giving a clear picture overall about how the bankruptcy process will go.
In brief, bankruptcy law in Ontario requires that you be open about your debts and assets. And if the trustee asks for your help with anything related to these, then you must provide the assistance.
For example, your trustee will require you to:
If you are having serious financial debt problems, Doyle Salewski offers a free, no obligation, and fully confidential first consultation with one of our insolvency experts. To find out more about whether bankruptcy is for you – or if there may be other options, such as a filing a consumer proposal – contact us today: in Ottawa call 613-237-5555; out of town, call toll-free 800-517-9926 or book online.