Your financial problems are keeping you awake and you have decided to consult a firm of licensed insolvency trustees? This is how your first meeting will take place.

If you have resolved to seek help from a trustee office, it is probably because you feel that you are in a bind. “The people who come to see us are very stressed. They are worried because they do not know what to do to get out, “says ABC, financial reorganization advisor at Good Finance.

Collection agencies

Collection agencies

In many cases, collection agencies have started to harass them, sometimes the threat of seizure hangs … In short, they see the trustee as their last resort. “You hear all kinds of difficult stories, some cry, others are ashamed to be in such a situation … You have to show a good sense of listening and empathy. I always try to put people at ease and create a climate of trust, “adds ABC, financial reorganization advisor at Good Finance.

It is worth remembering that these meetings are held under the seal of confidentiality. “The information received is treated confidentially. All those who work in a trustee office must demonstrate the same discretion, “says ABC.

See more clearly

See more clearly

At the first meeting with a financial reorganization advisor – who is free of charge – he or she will look through your file and make an assessment of your financial situation, your assets, your income, your debts, your creditors, etc. “Then I present the different options. Sometimes we can propose solutions that the person did not necessarily think, “illustrates ABC. In addition, by quickly tackling the problem, you may have access to more opportunities, such as debt consolidation, a mortgage of your property, etc., rather than having to consider the consumer proposal or bankruptcy. That’s why it’s good to take the bull by the horns as soon as possible and act before your credit report gets too tainted.

However, if it is a consumer proposal or a bankruptcy that is retained, in this case, the next appointment will be made with a licensed insolvency trustee. This meeting will allow you to settle the last details, collect the required documents, complete the forms, etc. “In general, the process is relatively fast. And as soon as the documents are signed, the person is under the protection of the Bankruptcy and Insolvency Act, “says ABC. As a result, all lawsuits are interrupted and creditors are no longer allowed to contact you.

A preventive role


Once the file is settled, the work of the trustee does not stop there, because two other follow-up meetings are scheduled with the client, to ensure that it is well and truly back on track. “We can give him advice to better manage his personal finances and tips to rebuild his credit, for example,” says Good Lender, which points out that the trustee also has a preventive role to play.

It can also redirect you to adequate resources, such as a cooperative home economics association (Good Finance), to help you understand the causes of your debt distress and avoid a relapse.

How do people react at the end of their first meeting with a trustee? “Most of the time they feel relieved. Many even tell me that if they had known, they would have come to see us before! “Says ABC. A wise word to ponder!



To prepare for a first meeting with the trustee, gather all the documents that will allow you to take stock of your financial situation.

Depending on the case, you could bring:

  • Credit card statements and loans (most recent)
  • Unpaid invoices (late)
  • Car Rental or Purchase Agreement
  • Copy of judgment (if applicable)
  • Statement of the balance of the mortgage loan
  • Proof of income (pay stub, employment insurance stub, etc.)
  • Return of income from the previous year
  • Proof of alimony and / or child care
  • Registration of the vehicle (s)
  • Municipal tax account