If you've found yourself with an overwhelming amount of debt, you can at least take comfort in knowing you're not alone. If you've found yourself with an overwhelming amount of debt, you can at least take comfort in knowing you're not alone. During the bankruptcy process, a trustee will take stock of your assets and income to determine what needs to be sold and what you’re required to pay. Throughout the process you will also have to report your income and expenses on a monthly basis to the trustee. While a longer process, it provides more control on keeping assets while still only paying back part of your debts.

Source: thestar March 28, 2019 13:52 UTC