Selecting the right bankruptcy trustee in Victoria, BC is crucial to ensure that you know all of your available options and that you receive the best settlement at the end of the process. A bankruptcy trustee does not work for either of the two parties. Rather, they act as a mediator between the two parties involved in the bankruptcy case.
The bankruptcy trustee is responsible for selling your assets and distributing money to repay your creditors. Moreover, the trustee can also offer debt counselling services to you so that you might be able to avoid bankruptcy altogether. For instance, the trustee may be able to create a special arrangement wherein your creditors are willing to forgo any missing payments, so long as you promise to start making regular payments again.
As you might have already found out, a bankruptcy trustee is an important professional because they can guide you through a complicated legal procedure and they may even be able to help you avoid declaring personal bankruptcy in Victoria. For this particular reason, your trustee has to be someone who embodies trust and someone who makes you feel comfortable when discussing your financial and personal issues.
When you are looking for a good bankruptcy trustee in Victoria, BC, one of the first things you have to consider is the amount of time a prospective trustee has spent in the field. Ideally, you have to choose a trustee who has been in the field for the last five or ten years. Experienced trustees are better equipped with knowledge regarding bankruptcy matters and know exactly how they can help you get out of trouble. Therefore, it is in your own best interests to go with a trustee who is highly experienced.
Before choosing a trustee who handles personal bankruptcy in Victoria, make sure to check if your prospective bankruptcy trustee is qualified and certified. They need to have acquired a sufficient level of academic proficiency in the concerned area. Also, they need to have a valid license and certification. These things are important because they define the credibility and legitimacy of a professional. Thus, you must ask to see the documentary proof to confirm that the trustee you are choosing is a certified and licensed professional.
When choosing a bankruptcy trustee, it is important for you to meet with him or her in person first. This will allow you to get a fair idea of whether or not you will feel comfortable working with that specific professional when it comes to your financial matters. Just like any other counselling service, you have to feel completely at ease when working with your chosen trustee. The trustee must also be easy to contact when you need help.
Finally, compare at least three different trustees prior to making your final decision. This will help you get an idea about the prices for these types of services. That way, you will manage to choose the best trustee in your area at the most affordable rate. So, remember to always keep these aspects in mind when making your decision.