What does a Trustee in Bankruptcy do?
Bankruptcy Trustee’s are licensed by Industry Canada. They will assist you in the process and act as a liaison between you and your creditors. Under the Bankruptcy and Insolvency Act, Trustee’s actually represent the creditors and are Officers of the Court. They will advise your creditors that you have filed for bankruptcy and that you are therefore protected. Trustee’s ensure that your rights are respected and that you are knowledgeable about the bankruptcy process. Trustee’s wear many hats in the process to guide you along the way and to ensure the creditors receive what they are entitled to. They are not addiction counselors, marriage counselors or lawyers, but they can recommend agencies that can help you resolve various issues.
Related Questions
- Are payments received from Pathfinder subject to recovery in the event the Bankruptcy Court trustee seeks to recover monies previously paid to Gramercy Court lenders?
- How does a person buy back their own assets from the bankruptcy trustee?
- What kind of questions does the bankruptcy trustee ask people?
