How a Licensed Insolvency Trustee Can Help With Getting Out of Debt
Struggling with debt can be a tough situation to navigate without professional help. A Licensed Insolvency Trustee (LIT) is a federally certified professional who can offer advice and solutions tailored to your financial circumstances. Here are seven ways a Licensed Insolvency Trustee can help you manage your debt.
1. Unbiased, Qualified Debt Advice – For Free
A Licensed Insolvency Trustee is a regulatory approved professional who is authorized by the Canadian government to assist individuals in dealing with their debts. Your initial consultation with an LIT is completely free. During this meeting, they will analyze your financial situation in detail and provide you with all the possible debt relief options. You’ll also receive advice on the most suitable solution for your specific circumstances.
2. Expert Answers To Your Questions
Dealing with debt can be confusing, and it’s normal to have many questions. Whether you’re curious about your financial options, budgeting, or anything else related to your debt, a LIT can provide expert answers. These professionals have ongoing education, training, and experience in the field, making them the best people to turn to for advice.
3. Access To A Full Range Of Debt Relief Services
A Licensed Insolvency Trustee offers a comprehensive range of debt relief services. These can range from helping you create a feasible budget to filing for bankruptcy. They’re equipped to assist you in navigating any financial situation you might find yourself in.
4. Protection From Your Creditors
Filing for bankruptcy or a Consumer Proposal are legal processes that can only be administered by a Licensed Insolvency Trustee. Once you’ve filed, your creditors are legally barred from attempting to collect money from you. This means you’ll no longer have to deal with collections calls, letters, lawsuits, or frozen bank accounts.
5. Professional Debt Negotiation On Your Behalf
If you decide to file a Consumer Proposal, your LIT will negotiate with your creditors on your behalf, based on what you can afford to pay each month. This can potentially reduce your overall debt and create a more manageable payment plan.
6. Debt Management Help
Licensed Insolvency Trustees also provide credit counselling services. These services can help you learn how to manage your finances and use credit responsibly. This education is crucial to avoiding future financial difficulties and maintaining good financial health.
7. More Options The Sooner You Seek Help
The sooner you seek help from a Licensed Insolvency Trustee, the more options you may have available to you. If you’re experiencing financial distress, don’t wait until your debt spirals out of control. Sometimes, the solution to your debt problems could be as simple as tracking your expenses and creating a budget.
Reach Out To A Licensed Insolvency Trustee Today
If you’re struggling with debt in Ontario, reach out for a free initial consultation. During this meeting, your financial circumstances will be thoroughly reviewed and each available debt solution will be explained to you. You’ll also receive advice on the best solution for you and your family. Take the first step towards better financial health today by scheduling your free initial consultation.
Remember, dealing with debt is never easy, but you don’t have to do it alone. A Licensed Insolvency Trustee can provide the guidance and support you need to manage your debt effectively.
