Licensed Insolvency Trustees (LITs) are federally regulated debt professionals who are highly qualified and well-trained. The Office of the Superintendent of Bankruptcy provides LITs with the license they need to administer insolvency services, such as assisting with bankruptcy or filing a consumer proposal with your creditors. Only LITs are able to assist people with filing […]

If you’re suffering from financial problems, you may have to consider some insolvency options. In Canada, those options are limited to consumer proposals or bankruptcy. To proceed with either, you need to hire a Licensed Insolvency Trustee. They are the only people who are legally allowed to file consumer proposals and bankruptcies in Canada. As […]

One of the most effective ways to deal with severe levels of debt is to file for bankruptcy. While this can sound daunting, it can actually leave you with the majority of your assets intact. Depending on the province that you live in, you could potentially save most of your belongings, your work-related materials and […]

When facing insolvency, it’s fairly common to seek out a trustee to help you learn more about your situation and discover options that can get you out of a bad financial situation. A bankruptcy trustee is a specialist that understands the process of claiming bankruptcy and the responsibilities it involves. However, that’s a very general […]