Читать книгу Bennett on Consumer Bankruptcy - Frank Bennett - Страница 26

There are several major steps to processing the bankruptcy paperwork when going through bankruptcy from beginning to end. These steps are highlighted in this chapter. After reading this book or parts of it, the consumer debtor may have questions that are not answered and therefore, should make up a list of questions to ask the trustee in bankruptcy before the papers are signed and filed. In addition, and depending on the consumer debtor’s particular problems, the consumer debtor may want to see a lawyer first who has experience in this area, or an accountant who may have a general background in dealing with bankruptcy and insolvency situations. The consumer debtor should definitely consult a lawyer before the papers are signed and filed because once they are filed with the Official Receiver’s office, the lawyer will not likely be able to reverse the process and the lawyer’s advice as to whether the bankruptcy route was proper will be too late.

As mentioned in previous chapters, there are ways to avoid bankruptcy including negotiating with the creditors on an informal basis or making a formal proposal under the Bankruptcy and Insolvency Act. These and other choices are discussed further in Chapter 9.

For a visual of the time sequence involved in bankruptcy, see Figure 2.