2. Talk to a Licensed Insolvency Trustee

Only a Licensed Insolvency Trustees can help you file for bankruptcy or file a consumer proposal. A trustee will usually discuss your options with you for free.

They can:

• give you advice about your financial situation
• help you figure out what your assets and debts are worth
• talk to you about options other than bankruptcy
• help you decide whether to file for bankruptcy
• guide you through filing a consumer proposal
• guide you through the bankruptcy process

Your first meeting with a Licensed Insolvency Trustee is usually free. But if you decide to file for bankruptcy, you will have to pay for their services or sell your assets to cover their fees.

If you file a consumer proposal, the trustee’s fees will be taken out of the money you pay your creditors.

To find a Licensed Insolvency Trustee, you can contact:

• Government of Canada
• Canadian Association of Insolvency and Restructuring Professionals