filing for bankruptcy

If you are in Nanaimo or Victoria, BC and are in a serious financial crisis, there are insolvency trustee firms that can help you get out of the problem. They are known to offer a range of expert solutions for corporate, as well as individual clients. Whether you are drafting a consumer proposal or need professional guidance while filing for bankruptcy in Nanaimo, these firms have what it takes to help. Their services cover:

1. Corporate Bankruptcy
Even if a trustee is allowed to continue operating your company for a certain period of time, if it has been assigned into bankruptcy, it is bound to cease its operations at some point. In such a case, its assets may be used to pay off the creditors. One great thing about this option is that once it comes into effect, all of your unsecured creditors will be kept from making debt collection efforts. If you would like to file for corporate bankruptcy in Victoria, BC, or Nanaimo, the experts at these firms can guide you through the process.

2. Personal Bankruptcy
If you are having sleepless nights due to personal financial problems, these insolvency trustees can help. Whether the issues culminated from events that you had no control or very little control over, these experts are able to assess your prevailing financial situation and recommend assignment into personal bankruptcy, particularly if all the other options are not viable. If you need professional assistance while filing for bankruptcy in Nanaimo, these firms can help.

3. Corporate Proposals
This is a formal and legally viable agreement that is usually made between a company and its creditors. It normally involves a compromise on the debts in such a way that creditors agree to be paid an amount that is less than what the company owes them. It is a much better alternative to bankruptcy, since the management of the business or company, as well as the ownership of assets basically remains with the directors and shareholders, while its operations are continued. If you want to file for a consumer proposal, these firms have seasoned bankruptcy trustees who can take you through the entire process, from the drafting of the document, to the presentation to creditors and approval by the court.

These insolvency trustee firms also have expertise in business reorganization, receiver and receiver-manager services, consumer proposals, debt consolidation, and credit counselling, among many other insolvency solutions. The best thing is that they are always keen on providing personalized insolvency solutions that will be effective in your situation. Whether you want to consolidate your debt or are planning to file for personal bankruptcy in Victoria, BC, these trustees can help.