Toronto Bankruptcy Trustees.
What exactly is a trustee in bankruptcy?
A trustee in bankruptcy is a licensed individual by the Superintendent of Bankruptcy to administer bankruptcies and proposals. They also manage assets held in trust. The trustee is there to provide expertise and guidance on the bankruptcy and proposal steps and ensure the protection of both the debtor and creditor.
Why should I use a trustee?
Firstly, they are highly trained professionals. All of them must complete a three year bankruptcy and law course and get a clearance from the RCMP just to get a trustee license. And ongoing education is mandatory in this field.
In terms of costs, it generally is more cost-effective to use trustees v.s. other debt consultants as a trustee's fees are government regulated.
In layman's terms, what will the bankruptcy trustee do?
They have two objectives to complete: to take your assets and sell them; to take money that is recovered from the sale of assets and distribute to your creditors once the bankruptcy process is complete.
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Our bankruptcy trustee office in Toronto, ON
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How Stern Cohen Shier Inc. can help
With over 20 years of experience, we are the experts in bankruptcy in Toronto, Ontario. Call us for a free consultation at 416-967-6772 and let us work together to figure out the best option for you today.
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are that provide , corporate bankruptcy, , division 1 proposals, and debt counselling with 7 locations in Ontario including , , , , Woodbridge, and .
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