Scott Schaefer

Licensed Insolvency Trustee

Understanding your Debt Options through Videos

Understanding your Debt Options through Videos

Debt Consolidation, Debt Management Plans, Consumer Proposals and Personal Bankruptcy – you may have heard about them before, but do you really understand how they work? In my Kitchener office, I have met with thousands of people from the Waterloo Region who have tried all of these solutions. What may work for one, may not…

Vehicles and Bankruptcy

Vehicles and Bankruptcy

One common question I receive when reviewing someone’s financial situation is “can I keep my car in a bankruptcy?” This is an important question for many people living in Kitchener-Waterloo as there are requirements for a vehicle due the geography of the area and the need to be able to get to and from work,…

Costs to Discuss Your Debt Options Shouldn’t Put You Further Behind

Costs to Discuss Your Debt Options Shouldn’t Put You Further Behind

Are you struggling with your debts and not sure where to turn for advice? This is a common issue right now for many people in Kitchener-Waterloo. No one really wants to speak to a bankruptcy trustee. Some people are going to places and paying large consulting fees (see Ontario Government warning). Some people after paying…

Is there a Difference between Bankruptcy Trustee’s in Kitchener Waterloo?

Is there a Difference between Bankruptcy Trustee’s in Kitchener Waterloo?

As a licensed insolvency trustee, I am a one of just over 1,000 trustees in all of Canada. A trustee has a unique role. We are like a referee in the bankruptcy process. We sit down with people who are experiencing financial hardship and assess their situation as well as review the options to deal with…

What Information Do I Need to Bring to my First Consultation?

What Information Do I Need to Bring to my First Consultation?

As one of the licensed insolvency trustees that meets with people in our Kitchener bankruptcy office, I am often asked: “what should I bring to my first meeting with the trustee”? Some people are worried that we will ask them to bring every scrap of paper in their house, and they are worried that they will not…

What does a Meeting with a Licensed Insolvency Trustee mean?

What does a Meeting with a Licensed Insolvency Trustee mean?

Earlier this week in my Kitchener office, I met with Jane and Tom (for privacy reasons, I have changed their names). Jane and Tom were referred by a family member who had previously filed a bankruptcy with me. They were very nervous and concerned about meeting a licensed insolvency trustee (our title has changed recently…

Student Loans and Bankruptcy

Student Loans and Bankruptcy

There are many reasons why someone cannot pay their student loans, including periods of unemployment, the inability to obtain a job in the field of study thereby lowering projected income, and/or by not getting the benefit of the loans if studies go unfinished. In a bankruptcy or consumer proposal the treatment of student loans is a…

New Stratford Ontario Bankruptcy Office

New Stratford Ontario Bankruptcy Office

I am pleased to announce that we now have an office in Stratford to help those individuals living in and around the Stratford area. The office can be found on the second floor above Scotiabank at 1 Ontario Street (corner of Ontario & Church). We share office space with The Ross Firm, a team of…

Top 3 Questions to Consider When Facing Debt Problems

Top 3 Questions to Consider When Facing Debt Problems

“Debt problems” is a general concept about which we all have some level of knowledge and understanding. However, the specific causes, implications and means of resolution can be different for everyone. Here are some of the warning signs that you should be taking action to deal with your debts problems: losing sleep at night, being…

There is Life After Bankruptcy in Kitchener

There is Life After Bankruptcy in Kitchener

I received a phone call recently from Lynda (not her real name).  In 2011 Lynda and her spouse were filing for a divorce.  This life altering event caused a number of problems in her financial life as well as her personal life and in early 2013 Lynda filed for personal bankruptcy.  She received a discharge…