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I'm Peter Stack, with Bromwich and Smith, a trustee in bankruptcy serving Airdrie. Over
the years, people have asked me, "How do you file for bankruptcy in Airdrie?" Well, to
file bankruptcy here in Airdrie, you must meet with a trustee. Bankruptcy trustees in
Airdrie are licensed accounting professionals and our job is to provide you with information
and guidance throughout the bankruptcy process. The trustee will assist you in preparing what
is called a "statement of your financial affairs" which will be presented to your creditors.
This statement must include who you owe money to, what you own, how much you earn per month
and what it costs you each month to live. Your personal information will also be required
as well as additional details pertaining to your specific circumstances. Once the documents
are officially filed with the government, you become part of the legal process and are
provided with the maximum protection you can receive. That means, your creditors will no
longer be able to attempt to collect on the debt that you owe them. Generally bankruptcy
for first time filers takes 9 months to complete but in some cases it can take up to 21 or
even 36 months. The trustee will explain specifically what your duties or requirements will be during
the period of your bankruptcy and outline the duration of the process to you, as well
as connect you to resources that can get you back on your feet. For more information on
filing bankruptcy in Airdrie, visit solvingdebt.ca or call us.