Richard is unable to pay his bills and unsure what to do. He talks to a Licensed Insolvency Trustee to explore the different ways he can deal with his debt.
This is Richard.
Unable to pay his bills, he is unsure what to do.
On the advice of a close friend, he contacts a Licensed Insolvency Trustee, a professional who is licensed by the Office of the Superintendent of Bankruptcy Canada.
While Licensed Insolvency Trustees can and do handle bankruptcies, they can also offer information about other possible options.
These might include reworking his budget, consolidating his debts, selling his assets, or offering a proposal to his creditors.
Whatever option Richard chooses, the trustee will thoroughly explain the process.
Of course, Richard has many questions, all of which the trustee takes the time to answer.
Richard is pleased to get all this information from the trustee.
Knowing the options allows him to be confident he is taking the steps necessary to getting his financial house back in order.
This content is from the website of the Office of the Superintendent of Bankruptcy.