Personal Debt Solutions Canada - Code of Ethics

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"Bankruptcy was a turning point in my financial life. I feel that I have turned a corner and will not make the same financial mistakes again. "
~John - Portage Inlet


"Having us do a budget each month really worked for us. We now have an ability to balance our monthly income and expenses. "
~Stan - View Royal


"We were really scared coming here, but everyone here was welcoming and no one talked down to us and we really appreciate it. "
~Rhonda - Highlands


"I was so relieved to learn that I could go bankrupt, but still be able to keep my car. "
~Scott - North Saanich


"I went through this whole process and I never felt judged because of my financial predicament. "
~Pedro - Metchosin


"Bankruptcy was a new beginning for both me and my wife. "
~Betty and Frank - Victoria


"I had no idea that there was any other option for me other than going bankrupt. I was great to be able to file a Proposal to my creditors, so I didn't have to go bankrupt. "
~Gord - Victoria


Professional Standards for Bankruptcy Trustees

Canadian Chartered Insolvency and Restructuring Professional (CIRP)

As bankruptcy Trustees, CAIRP members are highly respected insolvency professionals. The trustee designation signifies years of in depth study, work experience, competence and commitment to the highest of professional ethics and objectivity. In additional to being a trustee, approximately 95% of Trustee's are members of CAIRP (Canadian Association of Chartered Insolvency Restructuring Professionals). Chartered Insolvency Restructuring Professionals (CIRPs) must maintain high standards of conduct and professionalism.

The Rules of Professional Conduct (the Rules) which set these high standards are, first and foremost, to protect the public. Secondly, they are to ensure that we treat everyone with due respect, courtesy and integrity.

There are a number of principles upon which the Rules are based. These principles are:

The CQP monitors the acquisition of the 2,400 hours of experience required by candidates and administers the National Insolvency Exam (NIE).

Following the completion of the NIE and the attainment of 2,300 hours of experience, candidates are invited by the Office of the Superintendent of Bankruptcy to sit an Oral Board Exam. If the candidate is successful at the Oral Board and fulfills the requirements, the OSB issues a licence recognizing the individual as a trustee in bankruptcy.

Most trustees have support staff that assists them in their administration of the insolvency filing and generally, the more senior staff have completed courses offered through CAIRP. The courses recognize that, while the trustee is ultimately responsible for the proper handling and administration of an estate, reliance is placed on others to assist and carry out many day-to-day duties.

CAIRP, Interpretation of the Rules of Professional Conduct and Standards of Conduct

RULES 1 and 2

RULE 4

RULE 6

RULE 9