Considering Bankruptcy? Here are several aspects You should know about filing. First, if you’re unable to pay your debts you will meet with a Licensed Insolvency Trustee (LIT) LITs are licensed by the Office of the Superintendent of Bankruptcy (OSB) Your trustee will assess your situation Provide you with options provide you with forms to fill out and then if you do decide to file for bankruptcy file your forms After you are declared bankrupt your trustee will deal with your creditors and Notify them on your behalf From that point on, you stop making payments to your creditors and your trustee will sell your assets to use the funds to the vitamin Creditors keep in mind that certain assets are exempted And you’ll have to speak with your trustee about exemptions Your creditors may request a meeting and if this is the case you’ll have to be in attendance To learn more please visit our website