Are you looking for a bankruptcy trustee in Laval?

Understand all your debt relief options, from debt consolidation to bankruptcy.
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Woman concerned about finances

If you’re in Laval and looking to talk to a bankruptcy trustee, we can help.

Bankruptcy can be an effective solution to your debt problems, but it’s important to have a full understanding of all your debt relief options. 

There are other solutions that can offer significant relief and a Licensed Insolvency Trustee or “bankruptcy trustee” is your best resource for exploring your options. 

You can call us or meet with us person at our office in Laval for a free consultation. 

1-855-BDO-DEBT

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BDO Debt Solutions - Laval

placeAddress

655 Promenade du Centropolis

R224

Laval, Quebec

H7T 0A3

phonePhone

Phone: +1 855-236-3328   

scheduleHours

Mo=08:30-17:30

Tu=08:30-17:30

We=08:30-17:30

Th=08:30-17:30

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By appointment only

Evening appointments available

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Why and when should you call a trustee?

A bankruptcy trustee, or a licensed insolvency trustee — they each mean the same thing — is there to help you explore all your options if you find yourself facing financial difficulties.

What is meant by “financial difficulty?”

If you can no longer meet your financial obligations, or repay your debts, it’s time to speak to a debt professional who can deal with your creditors on your behalf and reduce your debts, either through a consumer proposal, or by bankruptcy.

The Trustee also supports you throughout a debt reduction program, governed by the Bankruptcy and Insolvency Act.

Meeting with a professional in an office setting

What is a bankruptcy trustee?

The bankruptcy trustee does much more than help people declare bankruptcy. They are a professional authorized to advise you on everything related to debt.

Learn more

How we've helped

Our clients say it best. Hear from people we've helped about their financial recovery journey and their experiences with BDO.

I am truly grateful to BDO Debt Solutions and my representative Ron Gagnon who helped me to fix my debt problems. I will admit I did not know what to do until I met Ron, who took the time to thoroughly explain everything to me and gave me hope for a better tomorrow because I thought I would never be out of debt. Ron was so patient with all my questions and prompt to reply to all my inquiries. Ron also followed up with me and always explained everything to me in full detail. I feel like I will never be able to say thank you enough for all the guidance, help and new information I learned to not only become debt free but to also the new tools to avoid debt problems from ever happening again. I would not trust anyone else to help me and the kindness and professionalism speaks for itself with this amazing company. I highly recommended BDO to everyone because I feel that they are the best at what they do and because of how hard Ron worked to help me with my complex case. Thank you once again BDO Debt Solutions for all you do and all your vast knowledge in helping to prepare me for a better future ahead!

Amitpal

Quebec

If only I had found BDO earlier, life would have been less stressful. Once I forwarded all the needed applications, information and documents to them it was a quick process. Everyone is understanding and not judgmental. Things progressed so smoothly that I was able to complete the payback period much sooner than expected. I would recommend BDO in a heartbeat.

Anonymous

Quebec

I am absolutely thrilled to recommend BDO Canada for their exceptional services when dealing with debt insolvency. As an organization that not only helps Canadians face financial hardship, they also specialize in other facets of the financial world. My experience with their knowledgeable team including Yanina as my advisor but Katie as my counsellor provided compassionate guidance and practical solutions. From restructuring debts to navigating legal complexities, they were with me every step of the way, ensuring a smooth process and a fresh financial start. Their professionalism and commitment to client success are unmatched. If you're looking for a reliable partner to regain financial stability, look no further than BDO Canada.

Anonymous

Quebec

FAQ

How do I pay my debts if I have no money?
If you don't have money to pay off your debts, you have some options. One is to contact your creditors and explain your situation. They may be willing to work with you to create a payment plan that fits your budget. Another option is to seek help from a credit counseling agency. Credit counselors can work with you to create a budget and help you develop a plan to pay off your debts over time. But be aware that you will have to repay all of your debts.

If you are unable to repay your debts, you may consider a consumer proposal or bankruptcy. These federally regulated programs will reduce the amount of debt you owe and give you a fresh start. It is important to consult a Licensed Insolvency Trustee to explore all your options.
How much does bankruptcy cost?
The costs of filing for bankruptcy are determined by the Office of the Superintendent of Bankruptcy Canada. The minimum cost is $1,800 for a first request. This cost can be spread over installments of $200 over a 9-month period. These costs can increase with additional administration, postage and trustee time, which are also regulated by the federal government of Canada.

It is important to note that the cost of a bankruptcy can vary depending on individual circumstances, such as the amount of debt owed, the complexity of the file and the debtor's income. The more you earn, the higher your monthly payments will be. These amounts are also regulated by the federal government and are called surplus income payments.
How do you choose the right trustee?
All bankruptcy trustees, i.e. licensed insolvency trustees, offer a free first meeting that allows you to review your budget, financial obligations and debts with a licensed professional. During this meeting you have the opportunity to explore all the debt solutions available to you, ask all the questions you want and decide if you want to work with the person or the company advising you.

Be aware that a declaration of bankruptcy lasts at least 9 months, and a consumer proposal can last up to 5 years. It is therefore important to have a good relationship with your trustee, as they will be the one who will help you rebuild your financial health. If they listen to you with empathy, explain things clearly and give you realistic expectations, these are very good signs.
What debts are not included in a bankruptcy?
In Canada, there are certain types of debt that are not covered by bankruptcy. Although bankruptcy can free you from your unsecured debts, such as credit card or line of credit debts and even tax debts, there are exceptions. Here what those are:

Secured debt: These are loans that are secured by some type of asset, called collateral. Examples include your mortgage or a secured car loan. You cannot include secured debts in bankruptcy. If you want to keep the property, you must continue to make payments on the loan or negotiate a payment plan with the lender.

Student loans: if your student loans are less than 7 years old, they will not be covered in the event of bankruptcy. You will still be responsible for paying them back. If your student loans are over 7 years old, you may be able to include them in bankruptcy.

Court fines and penalties: Debts owed to the government, including court fines and penalties, cannot be canceled in the event of bankruptcy. You will still be responsible for paying them.

Child support and alimony: Family responsibility arrears, including child support and alimony, cannot be discharged in bankruptcy. You will still be responsible for paying them.

It is important to note that the rules regarding which debts can and cannot be discharged in bankruptcy can be complex and may vary depending on individual circumstances. It is recommended that you consult with a Licensed Insolvency Trustee to discuss all the options available to manage your debt.
What is the difference between a bankruptcy and a consumer proposal?
A consumer proposal and bankruptcy are two deleveraging options available to Canadians struggling with their finances. Here are some differences between the two:

Debt repayment: In a consumer proposal, you offer your creditors to pay off part of your debt over a set period, usually up to five years. In the event of bankruptcy, your assets are liquidated to pay off your creditors and you are released from most of your unsecured debts.

Asset Protection: In a consumer proposal, you keep your assets, including your home and car, as long as you continue to make payments on them. In the event of bankruptcy, some of your assets may be sold to pay off your creditors, although there are exemptions for certain assets, such as your primary residence and personal effects.

Credit score: A consumer proposal and bankruptcy will negatively impact your credit score. However, a consumer proposal is generally considered less serious than bankruptcy and may be easier to recover in the long run.

It is important to note that the decision to file a consumer proposal or declare bankruptcy must be made after careful consideration of your personal situation and with the assistance of a Licensed Insolvency Trustee.
How long does a bankruptcy last?
The duration of a bankruptcy in Canada varies according to individual circumstances. For a first bankruptcy that has no excess income payments, the bankruptcy will last at least 9 months. However, if the person has required surplus income payments, the bankruptcy will last a minimum of 21 months, unless the court imposes a longer duration.

For a person who files for bankruptcy a second time and has no surplus income payments, the bankruptcy will last at least 24 months before being eligible for discharge.

It is important to note that the duration of a bankruptcy can also be affected by other factors, such as the completion of the required tasks, the complexity of the case and the intervention of the court.
How do you rebuild credit after a bankruptcy?
Check your credit report: After your bankruptcy is discharged, make sure that all debts included in the bankruptcy are marked "included in bankruptcy" and have a balance of $0. If there are any errors, you can dispute them with the credit bureau.

Apply for a secured credit card: A secured credit card requires a security deposit, which becomes your credit limit. By using a secured credit card responsibly and making your payments on time, you can begin to rebuild your credit.

Make payments on time: Pay all your bills on time, including credit cards, loans, and utilities. Late payments can negatively impact your credit score.

Keep your credit utilization low: Your credit utilization is the amount of credit you use against your credit limit. Try to keep your credit utilization below 30% to improve your credit score.

Regulate your credit applications: Applying for too much credit at once can negatively impact your credit score. 

Be patient: rebuilding your credit after bankruptcy takes time. It is important to note that you should always consult a Licensed Insolvency Trustee before taking steps to rebuild your credit after bankruptcy.

Why our clients choose BDO?

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Judgement-free advice

Talking about debt can be intimidating, so we ensure you feel supported every step of the way.

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Solutions tailored for you

We take the time to explore all debt relief options, so you can choose the best one for you.

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Helping Canadians since 1958

With 140+ offices and 60+ years of experience, we're ready to help in your local community.