What happens at my Initial Assessment meeting?
Meeting a Licensed Consumer Proposal Administrator / Licensed Insolvency Trustee is your first step on your road to financial recovery. The Licensed Administrator / Trustee will review and discuss the details of your personal financial circumstance. You will need to provide information regarding your creditors, your assets, your family, and your income and expenses. The more detail you provide the more accurate your assessment will be. After listening to you, and reviewing your information, the Licensed Administrator / Trustee will explain all your options to you.
Some of your options may be better than others, and some may not apply at all. Once you have completed your Initial Assessment you will have a better understanding of where you stand financially, and which option will likely be best for you.
Your Initial Assessment is for your benefit. The purpose of your Initial Assessment is to evaluate your current financial situation, explain all your options, and to discuss the possible outcomes of your options.
Some people will immediately make a decision about which alternative they prefer. Others will require time to digest the information they have received and determine which alternative is best for them. Remember, this is your life and your decision. The Licensed Administrator / Trustee is available at your convenience to assist you in the future, if you so desire. There is no obligation on your part to deal with the Licensed Administrator / Trustee if you do not feel comfortable.
Most people do not like to bare their soul more often than is necessary. So shopping for a Licensed Consumer Proposal Administrator / Licensed Insolvency Trustee may not be an enjoyable exercise. If you are not happy with your Initial Assessment you may decide to try another Licensed Administrator / Trustee. On the other hand, if you are happy with your Initial Assessment you should likely return to the same Licensed Administrator / Trustee to start working on your financial solution.
Be careful. In some offices you may find yourself in an Initial Assessment with someone who is not a Licensed Consumer Proposal Administrator / Licensed Insolvency Trustee. You should ask what credentials and training the person has to assess your financial circumstance. If you are not satisfied with their response, or qualifications, you should ask to speak directly with a Licensed Administrator / Trustee. Otherwise, you should go to an office where arrangements can be made to speak with a Licensed Administrator / Trustee.
Always remember, it is you who has the financial difficulty, not your Licensed Administrator / Trustee.