Sentences with phrase «bankruptcy trustees who»

He or she makes a payment to a bankruptcy trustee who then pays the creditors.

Although there are six types of bankruptcy, most people file Chapter 7 (also known as straight bankruptcy) in which the person surrenders non-exempt property to a bankruptcy trustee who then sells it and distributes the funds to creditors.

Contact a Local Bankruptcy Trustee who will review your situation and recommend a solution to your financial problems.

As a last resort, you can declare a Chapter 7 business bankruptcy, turning over the business to the bankruptcy trustee who will sell its assets, go after any outstanding accounts receivable, pay owed taxes, and distribute any remaining funds to creditors.

It is important that your choose a bankruptcy trustee who will take care in performing their trustee duties.

Instead of paying them each of one by one, you will make payments to a bankruptcy trustee who will handle your debt.

Upon your bankruptcy filing, the court will appoint a bankruptcy trustee who will enter an order for an automatic stay, which essentially stops all collection actions against you during your Chapter 7 bankruptcy case.

Not exact matches

Black, who is based in Montreal, reached an agreement with court - appointed bankruptcy trustee William Leberman earlier this year to buy the property after local scrap dealer Adam Weitsman pulled out of a deal to buy it.

In all bankruptcy cases, you only have to go to a proceeding called the «meeting of creditors» (also called a «341 meeting») to meet with the bankruptcy trustee and any creditor who chooses to come.

In Canada the only person who can be a consumer proposal administrator is a Licensed Insolvency Trustee (formerly called a bankruptcy trustee in CTrustee (formerly called a bankruptcy trustee in Ctrustee in Canada).

Chapter 13 bankruptcy can reorganize your debt and the individual makes payments to a Chapter 13 trustee, who then makes the payments to the creditors on your behalf, for a settled amount of money, over a period of 3 - 5 years.

A consumer proposal is regulated by because it can only be filed with a Trustee in Bankruptcy, who is licensed by the federal government.

Doug Hoyes, a bankruptcy trustee with Hoyes Michalos & Associates in Toronto, says he sees a stream of people through his office who never dreamed they would be declaring bankruptcy.

I'm Doug Hoyes and today I'm joined by Jason Quinney, who's a Bankruptcy Trustee and Consumer Proposal Administrator.

In Kitchener, to file bankruptcy you must meet with a licensed insolvency trustee (LIT) who will provide you with the information necessary to help you make an informed decision.

• You must have a regular income that will permit you to make the pre-determined payments to the trustee in bankruptcy who will distribute funds to your creditors.

Chapter 13 bankruptcy requires you develop a plan to repay your debts within a reasonable timeline — 3 - 5 years — and then make payments to a third party trustee who will pay your debt owners.

Your property becomes placed under the supervision of a bankruptcy trustee once you file, who may be able to sell some of your assets to pay back your debt, but this doesn't usually happen.

As a Licensed Insolvency Trustee I meet with people every day who need to file for bankruptcy or submit a proposal to their creditors to deal with their debts.

When you file for personal bankruptcy or make a proposal to your creditors, you must turn over all credit cards to your trustee, who will then return them to your credit card companies; that is the law (paragraph 158 (a. 1) of the Bankruptcy and Insolvency Act and Directive # 3 issued by The Superintendent of Babankruptcy or make a proposal to your creditors, you must turn over all credit cards to your trustee, who will then return them to your credit card companies; that is the law (paragraph 158 (a. 1) of the Bankruptcy and Insolvency Act and Directive # 3 issued by The Superintendent of BaBankruptcy and Insolvency Act and Directive # 3 issued by The Superintendent of BankruptcyBankruptcy).

I'm a Licensed Insolvency Trustee and my firm, Hoyes, Michalos & Associates does thousands of consumer proposals and bankruptcies for people who turn to debt to make ends meet and eventually found themselves in deeper trouble.

Most people don't really understand what a bankruptcy trustee is, who they work for, or how they get paid.

That does not mean a creditor who is owed money on a particular bill will not show up to a 341 hearing, a court - order meeting of the debtor with a bankruptcy trustee and any creditors who choose to attend.

Contact an Ontario bankruptcy trustee at Hoyes Michalos who can assess your situation and give you a more detailed idea of how much filing for bankruptcy will cost you.

In order to properly advise you of your options, the bankruptcy trustee should ask you a series of questions; how much and who do you owe?

My name's Doug Hoyes and I'm joined today by Scott Shaefer, who is a Chartered Accountant and a consumer proposal administrator and Bankruptcy Trustee with Hoyes, Michalos & Associates.

After this you will no longer pay the finance company, rather you will make monthly payments to the trustee of your Chapter 13 Bankruptcy who will then pay the finance company.

To start the bankruptcy process, first you contact a Hoyes, Michalos & Associates licensed insolvency trustee who will assess your financial situation and explain the debt relief options available to you, including bankruptcy and alternatives to bankruptcy.

The debtor is required to disclose to the court all of his or her property and debts and turn over all nonexempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors.

I have a client who filed bankruptcy in 2014 the trustee filed his 2014 & 2015 taxes.

Unlike bankruptcy where we know the players — the trustee and the judges, we often do not know who we'll be dealing with when we are attempting to settle your credit card accounts.

Ashvin Sharma is a Trustee in Bankruptcy who oversees our Brampton offices.

Today we meet with Hoyes, Michalos & Associates Inc., our local trustee in bankruptcy providing debt management advice for individuals who may need to file for bankruptcy or a consumer proposal in Southwestern Ontario.

only a licensed Trustee in Bankruptcy (who will meet with you to review your financial situation in detail) will be able to help you decide which option is best for your specific situation

I recently meet with an individual considering personal bankruptcy who was under the impression that as a bankruptcy trustee I would tell them how they could spend their money.

Contact a licensed Consumer Proposal Administrator, who is a trustee in bankruptcy to arrange a personal consultation.

However, for the 30,000 low income Canadians who file a bankruptcy each year, who have no assets to sell or whose wages are too require an income based payment, a trustee asks for fees up front in the form of a «fee guarantee» and are paid over and above any money collected in a debtor's estate realization such as an income tax refund.

These legal remedies for debt are done through a trustee who is licensed through the Bankruptcy and Insolvency Act.

The person who deals with your assets in bankruptcy is known as the «trustee».

While there are a number of factors that may affect which option is best for you, keep in mind that only a licensed Trustee in Bankruptcy (who will meet with you to review your financial situation in detail) will be able to help you decide which option is best for your specific situation.

In order to file a consumer proposal you would have spoken with a trustee in bankruptcy who would have reviewed your debts, your income, assets etc. and provided you with available options.

A bankruptcy is done through the courts, and must be supervised by a professional who is licensed by the federal government to assist in any insolvency situation (Trustee).

If you file bankruptcy chapter 7, you are assigned a trustee who sells your nonexempt assets and distributes the profits to your creditors to pay for your debts.

So Eric, in my business, and of course as you know I'm a bankruptcy trustee, I do consumer proposals, I get a lot of people who say you know, I don't want to do anything.

I'm Doug Hoyes and today I'm joined by Rebecca Martin, who is a Bankruptcy Trustee and Consumer Proposal Administrator at our Hoyes, Michalos office in Windsor and Leamington, Ontario.

The person who administers your bankruptcy is called the trustee.

The BIA states that in order to file for bankruptcy, you must work with a licensed Trustee - in - Bankruptcy who will facilitate the filing on yobankruptcy, you must work with a licensed Trustee - in - Bankruptcy who will facilitate the filing on yoBankruptcy who will facilitate the filing on your behalf.

A consumer proposal in Ontario must be administered by a Licensed Insolvency Trustee, one who is regulated by the Superintendent of Bankruptcy, so you know that you will be protected and treated fairly in the process.

Ted Michalos: That's right, they look after making sure that trustees are acting responsibly, that creditors are following the law, and that people who file bankruptcy are properly informed and properly perform their duties.

Very few people who file a bankruptcy loose their house, often there is a way to arrange to keep your vehicle and only your creditors, your trustee and the superintendent of bankruptcy will be informed about you filing bankruptcy.