What Does A Trustee Do?
At Hudson and Co. our trustee’s will work with you to form a plan, walk you through it, and help you stick to it. In Canada, all bankruptcy claims must be filed through a trustee. Here are some steps, when filing for bankruptcy:
- You inform the trustee of the things that you own and all the debts that you owe.
- Control of your non-exempt assets is given to the trustee.
- The trustee notifies your creditors of the bankruptcy.
- A meeting with your creditors may be held.
- The trustee realizes on the assets under his control and distributes funds to the creditors.
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