Many people can face financial hardship caused by various factors and events throughout their lives that can be quite overwhelming. Bankruptcy is a legal process that provides debt relief needed to start over. MGM Trustee has a team of knowledgeable, experienced and friendly professionals that can guide you through this process.
• Legal process pursuant to the Bankruptcy and Insolvency Act that provides relief of debt (some exceptions)
• Regulated by the Federal Government
• Administered by a Licensed Insolvency Trustee
• Usually the last option in solving financial difficulties but can be the best option depending on the circumstances
• Usually, keep your house and vehicle depending on circumstances
• For an honest and unfortunate debtor to obtain relief from their debt and obtain a fresh start
• Filed by an insolvent person(s) including a sole proprietor
• Stops wage garnishment and legal action by unsecured creditors
• Stops harassing phone calls from creditors
• Provides relief of debts (some exceptions)
• Provides for an orderly and fair distribution of assets to creditors
• Provides a regulated claims process of creditors
• Provides two financial counselling sessions
Contact MGM Trustee for more information for personal bankruptcy.
Business Facing Financial Problems
The bankruptcy process is also available to businesses suffering from financial peril. This can be a complex process. We have a team of experts who can help you. Contact MGM Trustee for more information regarding this process.