Frequently Asked Questions

Naturally, you have a lot of questions about consumer proposals, bankruptcy, and the services a Licensed Insolvency Trustee can provide. This FAQ is here to give you at least some of the answers you need. Below are the most common questions that Melanie receives from people that contact her for help. If you still have questions, just call Melanie at (780) 784-8638 and she’ll be happy to provide all the answers you need.

Consumer Proposal Questions

How much will it cost me to file a consumer proposal?
How long will a consumer proposal be noted on my credit report?
How long will it take me to complete a consumer proposal?
How often will I make payments?
Where do I send the payments?
Can I change the terms of my proposal?
What happens if I can’t make my payment?
What happens if my consumer proposal is annulled?
Am I allowed to file a consumer proposal more than once?
Who will know I filed a consumer proposal?

Bankruptcy Questions

How long will it take me to declare bankruptcy?
How will bankruptcy affect my credit?
Will I lose my assets if I declare bankruptcy?
Which of my debts will not be eligible for bankruptcy discharge?
Who will know that I filed for bankruptcy?

Licensed Insolvency Trustee Questions

How are trustees licensed and regulated?
Is there a fee to meet with a Licensed Insolvency Trustee?
How do I find a trustee?