Why a bankruptcy trustee is like a bus driver

Posted on: February 16, 2018

Posted in Bankruptcy | Comments Off on Why a bankruptcy trustee is like a bus driver

Now it is not really an exercise to be all things to all people, or anything like that, it’s not the way the law works, but it is there essentially to protect the rights of people. And when those rights come into conflict, then the court is asked to step in and decide. But administratively, that is what the Bankruptcy Trustee in Toronto focuses on and the Trustee, well I will tell you the way I describe this thing to most people now a days, I started this two or three years ago, and I have fallen in the habit of doing this all the time now, I describe my job as being like a bus driver. And whether I am driving a personal bankruptcy bus or a proposal bus, or a consumer proposal that you hear about now, whichever one I’m driving, it’s going to take everybody to a certain destination. It’s a route and it’s going to get there and there is going to be an end of the line, and all that kind of stuff. So, who’s on the bus? Well, obviously the debtor is. Be he a bankruptcy debtor or a proposal debtor, it doesn’t matter. He’s using this bus to achieve an end to get to a certain location, to get to a stop that he feels he has to get to. But the minute the debtor steps on the bus, guess who is going to be stepping on right behind him? In fact, trotting on his heels probably. Every single creditor he’s got. What does the driver do? Well, the driver drives the bus, doesn’t he? And the driver, in driving the bus, what the driver’s responsibilities are, really is the safe conduct of all these passengers, equally, to whatever destination they choose to be theirs on this route. Whatever their stop is, if you want. So, think of it that way, and you can use that analogy and actually make it work on all the little minutia on how this process works.

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    Since 1992, Richard Killen & Associates, a Licensed Insolvency Trustee, have helped thousands of people resolve their financial problems. With 25 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.

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