Assignment in Bankruptcy
When all other options have been examined and analysed, it is possible that declaring bankruptcy will be the only way out of your financial difficulties. As a bankruptcy firm, Groupe Thibault Van Houtte can assist you in this process.
Bankruptcy means handing over control of your property to a trustee so that your debts may be reimbursed. Declaring bankruptcy means all recovery procedures by your creditors are suspended. The bankruptcy process normally takes nine months, during which time you will have two consultation sessions in order to clearly understand the reasons for your bankruptcy. At the beginning of the process, we will also take the time to explain in detail your rights and obligations. If this is the first time you are filing for bankruptcy, you will automatically be discharged from your debts at the end of the nine-month period, unless one of your creditors objects.
