In this video, Richard Killen, Licensed Insolvency Trustee based in Toronto, Scarborough, and 8 other debt relief locations in Ontario talks about what happens if your employer declares bankruptcy.
If you find yourself out of work because your employer has gone bankrupt the first thing you need to do is contact the Licensed Insolvency Trustee handling the bankruptcy. Among other things you can file a claim with the trustee to ensure that you obtain your proper documentation and if he/she has the funds, you can receive your share.
The trustee can also direct you to the appropriate government agencies set up to handle funds set aside to help people in such situations. However, you must register with them.
Should you find yourself in financial difficulties due to your job loss and you are drowning in debt, consider having a conversation with Richard or one of the other Licenced Insolvency Trustees. 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