Insolvency Solutions and Information on the Internet

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You are probably reading this on our website. Everybody nowadays seems to use the internet to look things up and research matters of interest to them. Insolvency solutions (bankruptcies and consumer proposals) are not an exception.

There are a thousand different things that could be said on a website or through social media about debt problems and the various solutions available to those in need of them. Information is information and the internet is wonderful at giving almost instant access to it. How many times have you been on Wikipedia this week?

However, the internet has its limitations, at least for now. The main thing it can do is provide objective information, facts, data. What it can’t do is provide diagnostic opinion in areas which are not confined to objective facts and figures. Let me give this example in our area of professional expertise.

We are often asked by folks who consult us about their debt problems whether or not they will lose their house if they go bankrupt or do a consumer proposal. (This is one of the primary concerns home owners in debt trouble have, as you can well imagine.) They looked it up on the internet and learned lot about the legal position of the Licensed Insolvency Trustee. In fact, the internet would likely be very black and white about the matter. What they will find out when they come in for a FREE consultation at Richard Killen & Associates is that the issue is much more grey than black and white.

The law provides the trustee with a fair amount of latitude in dealing with the disposition of property and should the debtor want to keep his house he most often does, albeit at a cost. Only the trustee can properly explain this and then only after he has properly assessed the debtor’s entire situation.

The objectives of the Bankruptcy and Insolvency Act are not one-sided. It seeks to provide an equitable justice for all the parties and this cannot be properly shown by a simple interpretation of a statute. That’s why no matter what data the internet might provide, explanations that truly matter to people can only be provided by a Licensed Insolvency Trustee – like Richard Killen & Associates.

So, if any of this has personal meaning for you, phone or email us now for a FREE consultation and get the full perspective and proper answers to all your questions. Remember, it may be the most stress-relieving call you ever make.

Richard Killen

Licensed Insolvency Trustee

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