Debt Solutions: The Role of the Bankruptcy Trustee

Debt collection agencies, creditors, deficits, bankruptcy, and insolvency are all terms we hope never to have to hear. Unfortunately, sometimes life has other plans. The current economic climate has affected thousands of people and businesses, and unfortunately, many have turned to debt to get out of financial trouble.

For many, talking about debt evokes feelings of shame and embarrassment. People prefer to bury their heads in the sand or simply avoid the subject for fear of being judged. However, it is important to discuss the issue with a professional at the first signs rather than denying the problem. A Licensed Insolvency Trustee can help you find a solution to excessive debt.

The Licensed Insolvency Trustee’s Role

A Licensed Insolvency Trustee, formerly known as a bankruptcy trustee, is a professional specializing in debt solutions. Their primary role is to act as an impartial mediator in insolvency situations. LITs provide advice and solutions to debtors facing financial difficulties.

The title “Licensed Insolvency Trustee” underscores the strict rules governing this profession. These bankruptcy and insolvency professionals adhere to a code of ethics and the strict regulations established by the authorities. Be wary of individuals without professional credentials who may offer you solutions that are “too good to be true.”

One of the responsibilities of authorized insolvency trustees is filing personal bankruptcies. Only trustees have the authority to file bankruptcy petitions with the Office of the Superintendent of Bankruptcy. This exclusive authority highlights their crucial role in legal proceedings related to insolvency.

Trustees are also responsible for evaluating all possible options and recommending the one that best suits their client. One alternative to bankruptcy that trustees can propose is a consumer proposal. This legal solution allows a debtor to negotiate with creditors to repay debts through monthly payments. It is an effective path to financial recovery free from the heavy implications associated with bankruptcy.

In addition to resolving immediate problems, Licensed Insolvency Trustees play an educational role by providing information on responsible financial management. They guide debtors on budgeting and teach best practices. The goal is to ensure that their clients avoid facing financial difficulties again in the future.

Restoring financial health is possible with the help of a Licensed Insolvency Trustee. At M. Roy & Associés, our experts will take the time to work with you to find the best solution for your debt situation.

M. Roy & Associés

M. Roy & Associés Inc. stands out as a licensed trustee with an extensive presence across eight offices throughout the province of Quebec. These offices cover the greater Montreal area, including Lanaudière, the Laurentians, the Montérégie region, and Montreal itself. In addition, our reach extends beyond Montreal, with offices in Centre-du-Québec, in Victoriaville and Drummondville.

The firm’s history dates back to 1947, when Mr. Jean Roy obtained his bankruptcy trustee license and began his practice in Victoriaville. His son, Jacques, joined his father’s firm in the 1980s and obtained his trustee’s license in 1986.

During the 1990s, the firm expanded under Jacques’s leadership. Offices were opened in Drummondville, Trois-Rivières, Shawinigan, and in the suburbs of Quebec City.

In 2009, Mathieu, Jacques’s son, who had been practising law for several years, also became interested in the field. Mathieu obtained his trustee’s license in 2012 and is now in charge of the firm’s governance. His father, Jacques Roy, remains active and primarily serves clients in the Centre-du-Québec region.

Mathieu is supported by a dynamic team that prioritizes a human-centred approach based on listening to clients’ expressed needs. “Our attentiveness, our empathy, and the implementation of highly personalized solutions for our clients are what set us apart and drive the firm’s success,” he explains.

Mathieu specializes in assisting small and medium-sized businesses facing financial difficulties, as well as individuals. Many companies that have worked with M. Roy & Associés have been able to continue their operations without having to close their doors.

The team also includes Lisa Beaulne, who brings over 13 years of experience in insolvency as an advisor to individuals. Her empathy, attentiveness, and thoroughness make her an advisor who is attuned to her clients’ needs. She always proposes solutions tailored to the situation and within the client’s budget. Her ultimate goal is to permanently resolve the problem that is keeping you from sleeping soundly.

The primary mission of M. Roy & Associés is to support our clients when they face debt-related problems. We explore alternatives to bankruptcy, such as consumer proposals and debt consolidation. These solutions are viable alternatives to bankruptcy. Similarly, these alternatives also include strategies such as mortgage refinancing, which involves other professionals.

Our commitment is to help you pay off your debts by guiding you through these options and ensuring compliance with legal requirements. The first step toward getting out of debt is to meet with one of our advisors to review your financial situation. The initial meeting is confidential, free, and without obligation. The primary goal of this meeting is to assess your financial situation in order to explore the best options.

If you find that your budget is no longer working or that you have been in debt for some time, contact us at 1-877-352-6661 or online.