How do I choose a bankruptcy trustee?

How Do I Choose The Right Bankruptcy Trustee?

How does someone select a Bankruptcy Trustee? What should be on your checklist when you’re searching for such a professional? And are there any differences between Trustees and how they run their practices?

We feel you should look for the same things in a Trustee in Bankruptcy that you would look for in any other qualified professional: Training and education, accreditation, reliability and a solid track record. More importantly, when dealing with people, the Trustee you select must have the ability to see beyond the numbers — to the human being who is in a delicate emotional state.

As the event of filing for a bankruptcy is a highly-emotional event, one additional factor you should look for is a professional trustee who understands the emotions you are experiencing and can help guide you through this difficult period. We have a history of treating our clients with dignity and respect.

A Trustee In Bankruptcy is a well trained, highly qualified, regulated professional who has been licensed by the Federal Government of Canada to help the “honest but unfortunate debtor” (as defined by the Bankruptcy Insolvency Act) find the right solution to financial pressures.

Customer Satisfaction: A Priority

While it’s true that all trustees provide access to the same bankruptcy laws and protection rights, the level of service provided is equally important. How many office locations does the Trustee have? (we have 30 across Ontario). How many Trustees are on staff (we have 9 on staff for just our consumer practice; with additional Trustees in our corporate practice).

You should also determine how many years the Trustee has been operating (Alan Farber launched our firm more than 34 years ago). And when you call, do you get a real human being on the line, or voice mail? In other words, how responsive is the Trustee and his staff to your enquiries and questions? (we have our Customer Service Centre staff answering our information hotline six day a week, every week).

The Right Trustee For You

Let’s take a quick look at some of the other key things you need to ensure your Trustee is able to offer you so that you can feel confident that he or she is the right professional to assist you with your financial stresses:

• A Trustee should offer you sufficient information about all of the options available to you so that you can make an informed decision.
• Never pressure you to accept his recommendations. Ultimately, it’s your decision.
• When dealing with any professional, it’s important to get references from family, friends or co-workers who might have used the Trustee before.
• Make sure the Trustee fully understands your concerns and has experience dealing with similar situations.

It’s essential that you feel comfortable working with your Trustee, and that he or she is responsive, helpful, empathetic and treats you with dignity in a non-judgmental manner. After all, your Trustee will be guiding you through a very challenging period in your life.

If you feel we can help you dig yourself out of the debt hole you find yourself in, please contact us today toll-free at 310-1100 (or online by clicking here). We feel the human element is so important to your peace of mind. We have a long history of treating our clients with dignity and respect and recommending practical solutions that are tailored to fit your specific situation.