Personal Debt Solutions Canada - Code of Ethics

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"Speaking with a trustee was the best decision I could have made, they laid out all the options for me in a way that made sense."
~Gayle - Victoria

"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

"I had a small business that needed some time to get our cash flows in order. Filing a Proposal gave us the time we needed. "
~Byron - Sidney

"I feel like I was treated fairly. "
~Brad - Mill Bay

"Everyone was so friendly; they made me feel like I wasn't alone"
~David - Langford

"I really didn't want to go bankrupt and was relieved to learn that I could file a Consumer Proposal. "
~Lyn - Sooke

"Both my wife and I had to declare bankruptcy. Afterwards, I realized that my parents needed to go bankrupt as well. It was good to have a relationship with a Trustee that I knew would treat my parents with the respect they deserve. "
~Charlie and Candice - Sooke

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