What Are The Steps In Filing Bankruptcy

Watch the video or read below for more information Step 1 The first step is deciding you need help with your money problems.Step 2 Contact an MNP Trustee for a 1st meeting at no cost.Step 3 Bring in your statements or a list of debts, a list of your assets, a proof of your income and a detailed budget (monthly net revenues & expenses).Step 4 Your trustee will discuss with you the options. Then if bankruptcy is the best option, the trustee will prepare what’s called a Statement of Affairs – which includes a list of all your creditors and assets. It will then be filed with the Government to make it official. From this moment you are protected by theBankruptcy and Insolvency Act and your creditors will be informed a few days later. For more question about bankruptcy, please refer to ourBankruptcy FAQ.