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What Happens in a Typical Debt Relief Assessment?

There are two mandatory debt relief assessment sessions whenever anyone takes an action under the Bankruptcy and Insolvency Act. The first session has to take place between 10 and 60 days after filing a Consumer Proposal or Bankruptcy and the second session must occur not less than 30 days after the first and not more than 210 days after filing. The first assessment deals mainly with financial issues. We talk about budgeting, financial planning and how to monitor and analyze income and expenses. We also discuss ways that debtors can rebuild their credit and we ask you to prepare a […]