By Jasmin Brown

BDO Debt Solutions

What to Expect in the Initial Consultation

Jul 6, 2021 | 8:49 AM

For many people, the prospect of reaching out for a consultation with a Licensed Insolvency Trustee can be daunting. It is normal to feel uneasy about the unknown. When you are struggling with debt, it can be very difficult and overwhelming, and sometimes it feels easier to avoid the situation rather than to pick up the phone and make that first call to ask for help. To ease some of the uncertainty and fears that you may have, here is a summary regarding what to expect when you first meet with a Licensed Insolvency Trustee.

Everyone has their own story to tell

You will meet with a member of our team that will discuss your specific situation with you. You will be able to tell your story in a non-judgmental, empathetic and understanding environment. It will also involve gathering information regarding the following:

· number of family members in your household;

· information regarding assets;

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· the creditors to whom you owe money;

· your household income; and

· an idea of your basic monthly expenses.

Knowing your story, your expectations, as well as the above information really paints a picture for us so that we are in a place to present you with options and discuss them with you.

The options

In terms of options available to you, it may be something as small as creating and using a budget. It could also mean looking into a consolidation loan. Many times, however, people need more formal options that can only be administered by a Licensed Insolvency Trustee, such as a consumer proposal or a bankruptcy. Whatever the options available to you, our team will walk you through the process, answer your questions, and provide you with the information that you need to make a decision. There is no obligation to proceed, and there is no fee for this initial consultation. It is meant to provide you with options, and you are in control of whether or not you wish to proceed.

A feeling of relief

More often than not, after an initial consultation, the people that meet with us say things like:

· “I should have come to see you sooner,”

· “I feel like a weight has been lifted off of my shoulders already,” or

· “I didn’t realize that there would be a way out.”

Many recent polls show that people are really struggling with debt and that it is impacting them both physically and mentally. It is important to know that there are debt solutions available that really are meant to provide you with immediate financial relief.

If you are one of the many people that are struggling with debt, do not hesitate to reach out. Often times the hardest part is making that first call. The initial consultation is free and there is no obligation. Knowledge is power. Learning your options will give you the information you need to make a change in your life for the better. It will give you control over your own financial situation so that you can set and meet your financial goals as you move into the future.

If you are having trouble making ends meet each month, finding the right debt solution can help. Visit the BDO Debt Solutions website for more information about bankruptcy, or call 1 855 BDO DEBT to book a free, no obligation consultation.

Prince Albert and Area