3. 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 speak with you about your options for free.

A Licensed Insolvency Trustee can:

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

If you decide to file a consumer proposal, the trustee will help you to prepare everything you need to do it. You will have to pay them for this service. The trustee’s fees will be taken out of the money you pay your creditors.

You can find a Licensed Insolvency Trustee through the Government of Canada’s website or The Ontario Association of Insolvency and Restructuring Professionals.