1. Get your documents ready
Make sure you have all pertinent financial documents ready. That includes proof of income, bank statements, tax returns, copies of your debts and assets, and so on. They should be kept in one folder so they are easier to access.
2. Get the help of a licensed insolvency trustee
You need the help of a licensed insolvency trustee such as Mike Wright & Associates Inc to be able to file for your bankruptcy. They will be the ones to process the bankruptcy. You can’t file for it on your own.
3. Obtain the forms you need
Fill out the bankruptcy forms and then submit them to your licensed insolvency trustee. Once you submit it, you will need to pay a filing fee.
Once you have already submitted the forms, creditors will meet up with you. They might ask you questions about your financial situation. Your identification must be verified during this meeting as well.
You will also be asked to take credit counseling. It can be a beneficial step for you to get back on track after your bankruptcy.
It can be a daunting process, especially if you don’t know what to do first. But try to learn as much as you can about it. With the help of a good licensed insolvency trustee, you should be able to go through the process with minimal issues.
To know more about Mike Wright & Associates Inc. in Kelowna please visit our website: debtfreebc.ca