In this video, Licensed Insolvency Trustee in the GTA area, Richard Killen, talks about what you can and should do when you receive a letter from creditors after bankruptcy.
Here’s a few things to keep in mind should this happen to you:
- It sometimes happens that after a bankruptcy is finished and you have been discharged you receive a collection letter from one of the creditors. It usually means their computer hasn’t been re-programmed.
- However, there are a few creditors who might not be completely expunged by your discharge, so such letters should not be ignored.
- If you had such a creditor the trustee would most likely have explained all this to you at the beginning. The most common one is student loan.
- The smart thing is to call your trustee and ask.
If you are uncertain or starting to worry that you still have existing debt, the best course of action to take is to call your trustee. If you get a letter from a creditor, even if you’ve been discharged, it doesn’t matter, just remember to call a trustee. You will be glad you made the call.
There is no cost for your initial meeting and we will explain all of your options to you. We can meet with you during business hours or book after hours appointments if that is more convenient. Richard Killen and Associates is a Licensed Insolvency Trustee in Scarborough and have 10 locations across the Greater Toronto Area. Call us at (416) 285-9511