"André Gabbay et Associés Inc. is a bankruptcy trustee with over 20 years experience. They are experts in all areas of insolvency.Visit http://www.agabbayetassocies.com/ for more information. "

1. Information
About
Bankruptcy
Trustees

2. Introduction
For most people, ‘bankruptcy’ is probably the longest four-letter word in
the English language. Not many people have a lot of knowledge about
the bankruptcy process, but everyone knows you must be having
serious financial issues if bankruptcy is an option.
Bankruptcy is a complex process and one you’d do well to avoid, but it
isn’t the world-ending dagger that it’s made out to be. In some cases
people even look at it as a new beginning. Of course, those cases are
few and far between.
If you do have to travel down the bankruptcy road, one of the people
you’ll likely encounter is a bankruptcy trustee.

3. What Is a Bankruptcy Trustee?
A bankruptcy trustee, or a ‘trustee in bankruptcy’ is someone who has
been licensed by the Superintendent of Bankruptcy in Canada, to
administer bankruptcies and proposals. Generally, the job of a
bankruptcy trustee is to ensure the bankruptcy process moves along as
smoothly as possible for all parties.

4. What Does the Trustee Do?
Aside from actually filing the bankruptcy, the trustee will also manage
and sell off your assets to help pay off creditors. When someone
decides to file for bankruptcy, a trustee is appointed and the process
can get underway. However, a bankruptcy trustee in Montreal isn’t
used just for filing bankruptcies and selling your things.
•Trustees are also trained as debt consultants, and they can work on
your behalf to help you avoid bankruptcy. Some of these services
might include:
•Providing you with debt counseling
•Negotiating with and making arrangements with creditors on your
behalf
•Going through your finances and helping you make a proposal to your
creditors for a settlement

5. Can I Trust the Trustee?
It may be second nature to be wary of a bankruptcy trustee in Montreal
or anywhere else, but they are highly trained and can be trusted with
your situation. A bankruptcy trustee may even save you money over
other forms of debt management because their fees are regulated by
government agencies.
Detail is the name of the game when dealing with a bankruptcy trustee,
and they will give you thorough instructions regarding what’s expected
of you during the process. By the time you are done with your initial
consultation, you will know exactly what’s going to happen and how
long it should take. The regulations and code of ethics a trustee must
follow ensures your rights and privacy will be protected all along.

6. Where Do I Find a Bankruptcy
Trustee?
If you are contemplating bankruptcy as an option
to your financial problems, finding a trustee is a
good start. Look online under bankruptcy trustee
Montreal, or wherever you happen to be and you
should find a list of offices that provide this
valuable service.
If possible, try to find a place that offers many
different types of debt solutions. That way, if
bankruptcy isn’t the most logical choice you can
continue on with a different option with a
company that already knows your situation.

7. How Do I Become a Bankruptcy
Trustee?
If you feel like you want to become a bankruptcy trustee and help
people through this difficult time, you have some work ahead of you.
Trustees are licensed by the Superintendent of Bankruptcy, and must
meet very stringent guidelines and prerequisites.
To begin, if you even want to be considered for a trustee license, you
must have either a university degree or at least five years of relevant
employment experience. For certification, each candidate must
complete the CIRP Qualification Program, which is set out by the
Canadian Association of Insolvency and Restructuring Professionals.

8. How Do I Become a Bankruptcy
Trustee?
At the completion of the program, an exam is written, known as the
National Insolvency Examination. This is a written exam that must be
passed in order to be invited to take the oral exam. It’s also a
requirement that you take the Insolvency Counsellor’s Qualification
Course, and that you haven’t been bankrupt yourself within the
previous five years.
The Superintendent will carry out thorough investigations to ensure all
of the information each candidate provides is true. If a candidate
meets all of the prerequisites and requirements, his or her reputation
and suitability as a bankruptcy are discussed and evaluated before the
license is issued.

9. How Do I Become a Bankruptcy
Trustee?
Basically, the Superintendent must feel confident that issuing a license
to the applicant isn’t going to lessen the public’s confidence in the
bankruptcy process. The final oral examination will determine whether
a candidate has the skills, knowledge, professionalism and standards
to carry out the job on a regular basis. If all of these requirements are
met and the Superintendent feels a candidate is worthy, the license is
issued and a new bankruptcy trustee is born.

10. Advice
Financial problems burden many people and apply a great amount of
stress, consequently interfering in their everyday lives.
André Gabbay et Associés Inc. is a bankruptcy trustee with over 20
years experience. They are experts in all areas of insolvency. Visit their
website for more information.