One of the main purposes of Bankruptcy Law is to give a person, who is hopelessly burdened with debt, a fresh start by wiping out his or her debts.

The objective of this website is to provide people in Brampton, thinking about declaring bankruptcy, the information they need to make an informed decision. You will then have a good understanding of what the law allows when you meet with one of our Brampton bankruptcy trustees.

A bankruptcy wipes out all a person's eligible debts usually within nine months. In the vast majority of cases the debtor has no assets that he or she would lose. Bankruptcy gives a person a relatively quick "fresh start".

Important reasons for you to use a trustee in bankruptcy for your debt relief options.

Cost: In most cases, It will cost you less to use a trustee than other Debt Consultants since trustees have their fees regulated by the government.

Full Range of Debt Relief Options: Trustees in bankruptcy are the only debt professionals, that can provide a full range of debt relief options and the only debt professionals that can guarantee protection from your creditors.

A person has to use a trustee if he or she goes bankrupt. However, trustees are not just for filing bankruptcy. They are also Professional Debt Consultants and can make arrangements with your creditors on your behalf; provide debt counselling; negotiate settlement agreements and help you make a proposal to your creditors to avoid bankruptcy.

Integrity: If a trustee feels you need the protection of independent legal advice the trustee will refer you to an insolvency lawyer. In some cases the trustee will be able to advise you of a solution that will cost you nothing and have you avoid bankruptcy. Trustees are guided by a stringent code of ethic and will give you the best advice possible even if it means you do not use their services.

Training and Expertise: Trustees are the most highly trained and educated Debt Consultants in Canada. Almost all trustees have both an accounting designation and a university degree. In addition, all must complete and pass a rigorous three-year bankruptcy and law course and be investigated by the RCMP before being granted a trustee license. Ongoing professional development is mandatory.

Your Protection:  When dealing with a trustee you are protected firstly by the fact that the federal government regulates trustees and secondly by the stringent code of ethics to which all trustees are subject. Trustees in bankruptcy are the only debt professionals, in Canada, that are regulated by the government.