Many people have found themselves in a position where they really need some help working through their financial situation. They have collectors calling their homes, letters are coming on a daily basis and they find themselves using one credit card to pay the minimum payment on another credit card. While this situation can feel embarrassing and most definitely feels stressful, there is an option that can help.
Meeting with an Ontario bankruptcy trustee will help you to understand just what can be done to improve your financial situation. It is a good idea to ask around to friends and family and find out who they have found that is reputable and that have helped someone that they know. If you do not wish to discuss it with your friends or family, check out the internet. You are sure to find a trustee that you will feel comfortable with.
Being comfortable with your bankruptcy trustee is important because you will need to discuss some personal information with them in regards to your finances. You can obtain a free initial consultation with most trustees so that you can see just how comfortable you feel with them. If, once you have the initial meeting, you feel good about your choice it is time to get started on reclaiming your financial life.
They are not there to judge. They are there simply to help you get back on the right track. It is very likely that they have dealt with many people that were in a much worse situation than you are.
Your bankruptcy trustee will help you understand the different types of bankruptcy and which option would be best based on your personal situation. They will evaluate your income versus your expenses and will take a look at any outstanding credit card debt or other debts that you have. Once they have completed a full evaluation they will make their recommendation as to how to proceed.
Once you have decided on the Ontario bankruptcy trustee that you would like to do business with, it is time to be completely honest with him or her. They will need to know your exact financial position at the time that you meet so they can make the best possible option available to you. It will not do you any good if you hide information that may be embarrassing or shameful from them. Remember, when you put your trust in them, they will do everything possible to help you out of the situation that you are in.
When the bankruptcy trustee brings you their suggestions on how you should proceed, remember, they are not out to get you. They are there to help. The suggestion may be one that you have not considered in the past but if they feel it is the best option then you should take the time to hear what they have to say and to weigh out your options. The relief that comes with the end of harassment from creditors is amazing and the bankruptcy trustee is there to make it happen for you.