When is it Necessary to Contact a Bankruptcy Lawyer?
The decision to file for bankruptcy is never an easy one. At D. Thode & Associates Inc., our first priority is ensuring that before you declare bankruptcy, you know that it is the right choice for you to resolve your financial difficulties. In uncontested cases, a bankruptcy lawyer will not be required. In fact, in Canada practicing lawyers are forbidden to be licensed to file bankruptcies or consumer proposals. We are here to help you understand the difference between a Bankruptcy Attorney and a Trustee in Bankruptcy.
Trustee in Bankruptcy
A Trustee in Bankruptcy, or Bankruptcy Trustee, is a licensed professional in Canada. Their chief role is to negotiate financial settlements on behalf of their clients. As bankruptcy is a drastic step, they may also provide credit counselling and work with clients to develop payment plans or consumer proposals as a means to avoid some of the more damaging consequences of bankruptcy. In the event your case requires specific legal advice that falls outside the realm of our expertise, D. Thode & Associates Inc. will advise you to engage the services of a bankruptcy lawyer.
It is important to note remember most personal bankruptcy filings in Canada will be handled without the services of a Bankruptcy Lawyer. A Trustee in Bankruptcy has access to all of the necessary tools and resources to counsel you in your decision to file bankruptcy. However, in the event you own a business that must file for bankruptcy, a lawyer who specializes in insolvency may be recommended.
When you are in dire financial straits, the last thing you need is judgement. We can help you make sound financial decisions that make sense for your immediate needs, while keeping an eye to the future to protect your best interests for many years to come.
With offices in Kelowna and Kamloops, we offer debt solutions for clients all over the BC Interior. Call us today!