What happens at my Initial Assessment meeting?

When you find yourself in financial difficulty and you are uncertain what to do, meeting with a Licensed Administrator should be your first step on your road to financial recovery. 

A LicensedAdministrator is your best resource when you are faced with a financial problem. An Administrator has come across all types of financial issues and can draw on a wealth of information from regular training, the professional association, the Office of the Superintendent of Bankruptcy, and precedent cases in Bankruptcy Court. You should talk to a Licensed Administrator first. 

At this meeting, your Licensed Administrator will review the details of your personal financial circumstance.You will need to provide your Administrator with information regarding your: 

✔   identification

  family circumstance

  creditors

  assets

✔   income and expenses

  cause of financial difficulty 

The more detail you provide the more accurate your Administrator assessment will be. After listening to you and reviewing your information your Administrator will explain your alternatives to you. 

Some of the alternatives 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 alternative will likely be most appropriate for you. 

The Initial Assessment is for your benefit. The purpose of your Assessment is to evaluate your current financial situation, explain 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. Your Licensed Administrator 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 this Administrator 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 Administrator may not be a valuable or enjoyable exercise. If you are not happy with your Initial Assessment you may decide to try another Licensed Administrator. On the other hand, if you are happy with your Initial Assessment you should likely return to the same Administrator to start your solution. 

Be careful. In some Licensed Administrator offices you may find yourself in an initial meeting with someone who is not a Licensed Administrator. 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 your should ask to speak directly with a Licensed Administrator. Otherwise, you should go to an office where arrangements can be made to speak with a Licensed Administrator. 

Always remember, it is you who has the financial difficulty, not your Administrator.