best licensed insolvency trustee in toronto
Personal Bankruptcy in Toronto

How To Choose A Licensed Insolvency Trustee in Canada

This is a question that is often asked. The answer is pretty simple:

Comfort Level

Here’s the most obvious: you should feel comfortable with the trustee on a personal level. Here is the truth – most trustees will be able to handle the average bankruptcy file and all of them will propose similar solutions to your financial situation. However, since you’ll be working with a trustee for at least 9 months, you want to feel comfortable on a personal level with her.

 

Background Checks

It is very important that you perform a background check on the trustee and determine if there have been any issues regarding her professional conduct. There are 2 primary sources of information:

You can review the website of the Office of the Superintendent of Bankruptcy which publishes professional misconduct decisions on its site. Here is the link:

http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/h_br01189.html


Most bankruptcy trustees are also licensed accountants (i.e., CA, CMA, CGA). You should review the website of the trustee’s accounting body to which she belongs and determine if there were any professional misconduct decisions relating to her. For example, here is a link to the disciplinary cases on the website of the Institute of Chartered Accountants of Ontario:

https://ebusiness.icao.on.ca/discipline/d/decisions.cfm


Finally, you can simply perform a Google search on the trustee’s name and see if anything comes up that might put her in a bad light (e.g., newspaper articles, bad reviews on Google, Yelp, Yellow Pages, etc).

© Fong and Partners Inc 2013

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