Due to Covid-19, I may have to declare bankruptcy in Ontario. Do I need a Trustee Company?

Yes, whether you are an individual or a company, you will need the services of a bankruptcy trustee company.  

Why? 

Because bankruptcy in Ontario is federally regulated which means you’ll require a professional to provide you and/or your business with advice and how to solve your debt issues.  Only a licensed insolvency trustee company is able to assist you in filing for bankruptcy.

Covid happened and you’re not alone!

You don’t need to be a psychic to predict that over the next weeks and months, the country will see an increase in personal & small business bankruptcies. 

The small business community was hit very hard with thunderous consequences to the owners, their employees, their suppliers and so on.   The ramifications are much more significant than what is being measured in terms of unemployment rates right now.  This unprecedented event caught most businesses off guard and nothing had quite prepared any business for it.

While small businesses tried hard to resolve the immediate impact with the Government’s relief efforts such a CEWS, CERB and tax deferrals, the length of the shutdown caused permanent damage to some, making recovery an impossible effort.  For example, the majority of restaurants still have not reopened and the ones that have are operating with a small outdoor patio.

Many companies accrued debt and rent obligations piled up, without any sources of revenue coming in.  The sharp drop in revenues made it impossible for small businesses to keep up with their obligations. Let’s face it, not all small businesses are in a place to have cash reserves, and not all could pivot from “brick and mortar” establishments to online sales that quickly.

Don’t be discouraged by #failure. If you’ve never failed, you’ve never tried.  Failure is temporary.  

So, some of you may have a very difficult decision to make. You may be an employee who lost their job or the owner who must wind up your operations and just close. Some of you may have to declare bankruptcy.  This is where a trustee company can help.

If you are at the end of your rope and in a financial crisis, it may be time to look at your options.  Call us, or REQUEST AN APPOINTMENT and we can help you figure this out. You may have to do a debt consolidation plan or declare insolvency.  Whatever lies ahead for you, I can tell you it’ll take “LOADS” of pressure off just by knowing what’s next and you’ll be able to rely on what’s coming in the weeks or months ahead.

Failure is not the opposite of success. It is part of it. 

I mean, come on, a pandemic is not your fault!

If indeed your best teacher is your last mistake, you now know how to anticipate and protect yourself against a situation like this in the future. But for now, you must drop the toxicity in your life regarding debt. There is no point in feeling trapped, burdened, depressed, shame, grief, regret or feel like a failure. We want to help you move past this so you can go on to create, innovate, build again, be excited again, and, yes, you do get a “do-over!”. 

It’s all possible. We’ve witnessed thousands of bankruptcy situations and we know that you can recover.  

Action is within reach. Let us help you prepare for your next uptick! As a trustee company, we are proud to offer our debt help, Consumer Proposal and bankruptcy services to you remotely, accessible by telephone or video conference from the comfort and privacy of your home.

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It’s Not Always Easy to Reach Out For Financial Help. But When You’re Ready…

Teresa Brace
Teresa Brace
03:53 30 Oct 20
I just want to say I am more than happy with the services provided by Sheriff Sole & Madej Inc. I had responded to an... ad I had seen on FB and thought, let me see if this is for real! I ended up receiving a call back from Chala and of course I had my reservations but, Chala was absolutely awesome from initial engagement. Chala was patient and understanding, kind and empathetic, informative, professional, non judgemental and most importantly, Chala made me feel she genuinely cared and had my best interest at heart. I have since met with Maggie Madej and she echoed my experience with Chala. Thank you Chala and Maggie for your professionalism, knowledge, exceptional customer service and empathy! Much Appreciated.read more
Phillip Allen
Phillip Allen
15:43 30 Sep 20
Great Service n also I was well informed on my Financial situation moving forward,Great customer service overall... awesome service.read more
Corey Robertson
Corey Robertson
11:57 26 Sep 20
I spoke with Chala the other day and she was so helpful and polite. I would recommend her to anyone
Raymond Joseph
Raymond Joseph
20:35 03 Aug 20
1st, I was made aware of an outstanding balance, one month before my discharge. Ultimately, I had to go into debt once... again to get my discharge. 2nd I met all of the requirements and 10 months later, I am still waiting for my discharge. This had a negative impact on a job application and may cost me a good job. Very disappointing experience.read more
liz bliz
liz bliz
21:35 07 Jul 20
I have no words to say thank you to Cagla Bayam, and her team . Cagla spoke to me ,about my real choices and explain... ,in just a way that i understand everything,she make me understand and believe theres is a hope for recover and start over.I know it will be few more years but at least ,i know i have a direction to go,and i am learning as i go ,I have being going in every direction confuse ,neglecting my own health trying to pay debts . 3 jobs trying to pay fast without results. till the point of question life. Every collector were screaming,witch get me more stress. I felt really lost .So i see an ad off Sheriff Sole & Madej Inc and I apply I thought it was scam at first ,because she was listening,not imposing her words,no pressure, no rush, believe me as I type, I talk a lot even more when i am stress ,and there she was with all the patience in the world . It was too nice to be true.I keep telling her "I hope you real " But it is true,they are real professionals, she can help you or guide you. I want so bad to be debt free and able to have a day off. I recommend and encourage anyone that feel lost in debt to Email or call them, specially this branch in north york ,well this is the one i experience. I did this review because this was a door to be debt free that i though it will never open and that it wasn't for me. I am in the road to be debt free.and I hope anyone who read this is too Thank you so much. Everyone stay saferead more
Z N
Z N
22:43 23 Jun 20
Alexandra Morataya is hands down the most unprofessional person I have come across. She screwed up royally and instead... of owning up to it she ignores you and leaves you hanging for over a month. Tried getting ahold of Todd Sheriff and he too ignores messages. Looking into a lawyer as my credit score has gone down tremendously and for 2 months payments haven't come out due to their screw up. I wouldn't suggest this company/firm.read more
Raymond Joseph
Raymond Joseph
14:18 10 Jun 20
Due to poor monitoring and advice, I am left In debt after a bankruptcy. Incompetency has my discharge incomplete, 8... months after qualifying. What was supposed to be a 24 month solution, turned into a 5 year ordeal.read more
NexToronto WordPress & Internet Marketing
NexToronto WordPress & Internet Marketing
16:44 19 Dec 17
If you're having debt problems and want piece of mind call Sheriff Sole & Madej Inc. They are extremely helpful and... very professional.read more
Michael Meyer
Michael Meyer
07:14 01 Oct 17
If you are having debt problems, call them. They will help you get rid of all your debts. The best part is that their... fees are already included in the monthly payment.read more
Ed Hammond
Ed Hammond
06:26 03 Sep 17
We can’t thank Sheriff Sole and Madej team enough. Transparent and non-judgmental company. Cristina answered all of... our questions patiently and made this process stress free!read more
Timothy Pass
Timothy Pass
19:08 04 Aug 17
After losing my job I was no longer able to pay my bills and ended up with a huge debt load. Katherine was very... knowledgeable and patient. She answered all my questions and helped me deal with my financial situation. I am now in a proposal and make only one low monthly payment. Thank you Katherine!read more
Adam Hale
Adam Hale
17:31 28 Jun 16
I've been working with Sheriff Sole & Madej Inc. for the past 1.5 years. Before that I spent 7 years going through... different Trustee's & "Debt Guys" in Ontario. Sheriff Sole & Madej Inc. have changed my outlook on Trustee's. They don't make my clients feel uncomfortable. They don't make me look bad when referring them business. They respect us! Those are keys when working together with clients that are usually in a tough spot. Trust me, the creditors will be just fine...read more
Artem A
Artem A
16:58 24 Jun 16
Knowledgeable staff that is a pleasure to work with. Sheriff Sole and Madej provides a welcoming environment for... clients to resolve even the most challenging of credit situations. All available solutions are explained in great detail, and client satisfaction is clearly a priority for the firm.read more
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