{"id":5220,"date":"2014-06-23T09:00:40","date_gmt":"2014-06-23T16:00:40","guid":{"rendered":"https:\/\/www.sands-trustee.com\/?p=5220"},"modified":"2019-06-27T16:29:59","modified_gmt":"2019-06-27T23:29:59","slug":"trustee-bankruptcy-basics","status":"publish","type":"post","link":"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/","title":{"rendered":"Trustee in Bankruptcy Basics"},"content":{"rendered":"<p>If you\u2019re considering meeting with a bankruptcy trustee about your debts you probably have a lot of questions about what a trustee does. If you\u2019ve never even heard of a bankruptcy trustee or Consumer Proposal administrator there\u2019s probably even more that you\u2019re not aware of! Read on for some basics as to whom trustees in bankruptcy can help, and what they do:<\/p>\n<h2><b>Who are bankruptcy trustees?<\/b><\/h2>\n<p>Bankruptcy trustees are individuals who are government-licensed by the Office of the Superintendent of Bankruptcy to administer both <a href=\"https:\/\/www.sands-trustee.com\/personal-debt-consolidation\/consumer-proposals\/\">consumer proposals<\/a> and bankruptcies. There are approximately 1,000 trustees currently licensed in Canada. The Superintendent must be satisfied that individuals wishing to obtain a license meet certain qualifications and have successfully completed a specialized program and gained relevant industry experience before a license will be granted.<\/p>\n<h2><b>How are bankruptcy trustees different?\u00a0 <\/b><\/h2>\n<p>Bankruptcy trustees are the only people who are legally empowered to shield you from creditors &#8211; they are also the only people able to offer a debt solution called a Consumer Proposal. While programs offered through debt consultants or credit counsellors may sound similar, they do not offer the same protections. Furthermore, debts such as income taxes owing to Canada Revenue Agency can only be successfully reduced (or eliminated altogether) by working with a licensed bankruptcy trustee.<\/p>\n<h2><b>Why meet with a bankruptcy trustee?\u00a0 <\/b><\/h2>\n<p>Because bankruptcy trustees are impartial and will review all your debt options (this includes Consumer Proposals, credit counselling and bankruptcy) with you, you\u2019ll generally be able to walk away armed with a lot of knowledge about how you could resolve your situation.<\/p>\n<h2><b>When should I contact a bankruptcy trustee?\u00a0 <\/b><\/h2>\n<p>Generally it\u2019s better to speak with a bankruptcy trustee sooner rather than later if your debts are causing you difficulties. Sure signs that you should seek assistance are things like missing payments, collection calls and wage garnishment, but there\u2019s no need to wait until the situation is that pressing. If you know you\u2019re looking at years of minimum payments, never touching the principal balances, or constantly shuffling credit to keep accounts current those are also signs that a chat with a trustee can help.<\/p>\n<h2><b>What does it cost to see a bankruptcy trustee?\u00a0 <\/b><\/h2>\n<p>Absolutely nothing!\u00a0 A licensed bankruptcy trustee will meet with you at no cost or obligation to review your specific situation and provide you with your legal options.<\/p>\n<h2><b>Where do find a bankruptcy trustee?\u00a0 <\/b><\/h2>\n<p>Sands &amp; Associates has local offices throughout BC &#8211; you can view a list of all our offices <a href=\"https:\/\/www.sands-trustee.com\/locations\/\">here<\/a>. If you are outside the areas we serve please <a href=\"https:\/\/www.sands-trustee.com\/downloads\/\">contact us<\/a>\u00a0and we can put you in touch with a trustee in your area.<\/p>\n<p>Whether you\u2019re sure about which debt option you\u2019d like to pursue, or you\u2019re unsure as to what options you\u2019re eligible for, a licensed bankruptcy trustee will be able to help you assess your circumstances and make sure you understand the solutions available to you.<\/p>\n<p><strong><a href=\"https:\/\/www.sands-trustee.com\/free-debt-consultation\/\"><i>Book your free confidential debt consultation today.<\/i><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re considering meeting with a bankruptcy trustee about your debts you probably have a lot of questions about what a trustee does. If you\u2019ve never even heard of a bankruptcy trustee or Consumer Proposal administrator there\u2019s probably even more that you\u2019re not aware of! Read on for some basics as to whom trustees in [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":6482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[258,257,259,263],"tags":[55,38,39,74,37,117,50,43,35,82],"class_list":["post-5220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bankruptcy","category-consumer-proposals","category-debt-consolidation-counselling","category-expert-debt-advice","tag-administrator","tag-bankruptcy-bc","tag-bankruptcy-trustees","tag-bc-debt","tag-consumer-proposals","tag-credit-counselling","tag-debt","tag-debt-consolidation","tag-sands-associates","tag-tax-debt"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.3 (Yoast SEO v26.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trustee in Bankruptcy Basics - Sands &amp; Associates<\/title>\n<meta name=\"description\" content=\"Read a basic overview about who trustees in bankruptcy can help, and what they do.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trustee in Bankruptcy Basics\" \/>\n<meta property=\"og:description\" content=\"Read a basic overview about who trustees in bankruptcy can help, and what they do.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\" \/>\n<meta property=\"og:site_name\" content=\"Sands &amp; Associates\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SandsAssociates\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-23T16:00:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-27T23:29:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.sands-trustee.com\/wp-content\/uploads\/2014\/03\/Puzzle.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"484\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Blair Mantin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Blair Mantin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\"},\"author\":{\"name\":\"Blair Mantin\",\"@id\":\"https:\/\/www.sands-trustee.com\/#\/schema\/person\/bce0833a5a7c2b89498e7d357aa214bf\"},\"headline\":\"Trustee in Bankruptcy Basics\",\"datePublished\":\"2014-06-23T16:00:40+00:00\",\"dateModified\":\"2019-06-27T23:29:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\"},\"wordCount\":502,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.sands-trustee.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.sands-trustee.com\/wp-content\/uploads\/2014\/03\/Puzzle.jpg\",\"keywords\":[\"Administrator\",\"Bankruptcy BC\",\"Bankruptcy Trustees\",\"BC Debt\",\"Consumer Proposals\",\"Credit Counselling\",\"Debt\",\"Debt Consolidation\",\"Sands &amp; Associates\",\"Tax Debt\"],\"articleSection\":[\"Bankruptcy\",\"Consumer Proposals\",\"Debt Consolidation &amp; Counselling\",\"Expert Debt Advice\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\",\"url\":\"https:\/\/www.sands-trustee.com\/blog\/trustee-bankruptcy-basics\/\",\"name\":\"Trustee in Bankruptcy Basics - 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