Your first step to gaining control of your finances and dealing with your debt is a phone call to Yanch Dey & Associates Ltd. in the GTA and Durham Region. When you call our office, one of our Licensed Insolvency Trustees will discuss your situation with you. We answer questions like:

  • How we can help with your present situation
  • Who is affected by the debt that you are carrying
  • Questions about co-signers on any debt you have
  • How your income is affected and how to support the debt after filing for bankruptcy
  • How your assets will be affected in a bankruptcy
  • What will happen after filing for bankruptcy

Our team carries over 60 years of combined experience with helping individuals create a healthy financial plan, and we can help you.

Call us today to discuss your bankruptcy process.


Bankruptcy occurs when a person is unable to pay their debts. It is a legal process governed by the Bankruptcy and Insolvency Act of Canada. Filing for bankruptcy gives the individual or business a chance to start over by forgiving debts that they are unable to pay.

The bankruptcy procedure begins with the person who owes money speaking with a Licensed Insolvency Trustee. The Licensed Insolvency Trustee is a person licensed by the Federal Government to assist you with filing for bankruptcy. The trustee notifies your creditors that you are unable to pay your debts and that they must now deal directly with the trustee. Collection calls and wage garnishment will stop.

When you go bankrupt, you assign your assets to the trustee for the benefit of your creditors but there are many assets that are exempt from seizure and you will be entitled to keep. Even if an asset isn’t exempt, you often have the option to keep it by simply paying its value into your bankruptcy.

Once bankruptcy proceedings are completed, the debtor is relieved of the debt obligations.

Filing for bankruptcy is just one of the options to deal with your debt problems. There are alternatives to filing for a bankruptcy like consumer proposals, debt management and debt counselling. When you come and speak with us we will go over your options and give you honest advice on what’s best for you.


There are other options besides filing for a personal bankruptcy. That’s why before we proceed with a bankruptcy our trustees review your options, such as:

  • Debt consolidation loans
  • Credit counselling
  • Debt management
  • Consumer proposals

If the options to avoid a bankruptcy have been exhausted, then a personal bankruptcy has advantages that we can review with you.

Contact Us

Contact Us

Have a bankruptcy, consumer proposal or financial issue you'd like to discuss? Send us and email and we respond within four (4) hours.

The information provided within this website about bankruptcy and consumer proposals is protected by copyright law. Any distribution or reproduction in any way, shape, means or manner is expressly prohibited by law without the the prior written consent of the owner(s) of the copyright.

This site is for information only and is not meant to replace qualified legal advice by a Licensed Insolvency Trustee the writers shall not be held responsible for any information that may be incorrect or out of date in regards to bankruptcy or consumer proposals. The owners of this website recommend that anyone wishing to learn about how a trustee in bankruptcy can deal with your financial issues or help you with a personal or commercial bankruptcy should contact our office.