|
|
PRESS RELEASE — June 15, 2001 YOU DON'T HAVE TO GO BANKRUPT TO GET PROTECTION FROM CREDITORS, but you MUST have an agent to GET PROTECTION FROM A TRUSTEE. Declaring personal bankruptcy, or filing for bankruptcy protection can be the lowest ebb in a person's life. Coupled as it often is with family breakdown, it can lead to utter despair. Most Canadians are so close to the financial edge with Credit Card debt, Student Loan debt, Car-loans and Mortgages, et cetera that even a temporary work lay-off, an accident, a single entrepreneurial mis-step, can lead to bankruptcy. The saddest part of the whole process is this: IT DOESN'T HAVE TO BE THIS WAY. What your readers need to know is that Bankruptcy Trustees cannot give advice to debtors. It is against the law for a trustee to advise a debtor about anything that would help the debtor retain any of their assets. Trustees can seem like friends in need. When creditors are hounding the debtor, the relief of bankruptcy can seem like a blessing. The only catch is ~ and it's a big one ~ the Trustee's duty is to the Creditors NOT the Debtors. Most people believe, that the trustee represents their interests. Nothing could be farther from the truth. They know that they need a lawyer or paralegal if someone sues then in Civil Court, or if they need to attend in Criminal Division, however, they have no idea bankruptcy is a Federal Court jurisdiction, and anyone entering that court before a duly appointed Officer of the Court (the Trustee) ought to have professional representation. Their ignorance can cost much more than is necessary. The fact that trustees don't actually represent debtors is contrary to public belief. This is due to the carefully masked and misleading advertising of the trustee. In order for trustees to distance themselves from an obvious conflict of interest they instruct the debtor to place their money in what they refer to as an "estate". This estate then belongs to the creditors. The creditors pay the trustee out of the "estate". In this process the debtor is not paying the trustee, therefore the trustee has no obligation to give the debtor advice. On the other hand however, they may provide advice to the owners of the estate, their employers, (the creditors). Par-O-Law is founded on this idea: I believe that most people, given an opportunity, will pay their bills. The overwhelming majority of insolvent people are uncertain about their rights when pressed by creditors for payments that they can no longer maintain. Why do so few people know that it is possible to file bankruptcy and still keep the house, the car, the RRSP's, the Camper, et cetera, et cetera? When people fall on hard times for whatever reason they need someone to assist them to achieve what the Bankruptcy Act is in place to accomplish ~ The Rehabilitation of the Insolvent Person back into the business community as a person worthy of receiving credit. Trustees cannot do that alone. We at Par-O-Law are not bashing Bankruptcy Trustees. Trustees have a very difficult role to play. They are carefully selected Officers of the Court and for the most part are honourable, compassionate people, but they are forbidden by their position to provide guidance and direction to a debtor in a manner that would create a benefit for the debtor. When we consider how Trustees generate public awareness for their individual companies we discover an opposite portrayal of their roll. Instead of saying that they are Officers of the Court forbidden to provide guidance and direction that would benefit a debtor, we find Trustees advertising as the "Debtor's Advocate", and frankly that is false advertising. That is a Conflict of Interest and there is no escaping it. It's time for a change, and we at Par-O-Law are making the change. When Par-O-Law represents an insolvent person, the goal is to preserve their assets and rehabilitate the debtor with the least amount of trauma so they may maintain a decent lifestyle for themselves and their families. We are not out to rip off the creditor, but just how much representation does the creditor warrant? The Trustee is asking the debtor to feed the "estate" for the benefit of the creditors representative ~ themselves!!! Par-O-Law is now Canada's leading company providing this vital Financial Default Management™ service. Readers of yours, who are at, or near the financial breaking point, need this information. They need to know that they still have rights, even though they owe more than they can comfortably repay. They need to know there is help, that even something as serious as a defaulted mortgage can very often be reinstated, that someone will believe in them and guide them through the process. We will help them to refocus their lives, and not only survive, but also thrive. I would be pleased to be interviewed in detail about this company and the valuable list of services it provides to Canadian families. This is a DIFFERENT APPROACH to insolvency. We have pioneered the process of Financial Default Management™ techniques and a PATENT is pending on the title. I have attached our Corporate Position Paper for the year 2001 for your perusal. To arrange an interview, please call: William (Bill) Lutton, |
Contents & design © Par-O-Law Canada Inc 2000-05 (all rights reserved)
Site Design & Development: Apple Country Web Design | Email Webmaster