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… Continue reading What is a Licensed Insolvency Trustee?
If you’re suffering from financial problems, you may have to consider some insolvency options and if you are interested in meeting with a trustee you might be wondering if the trustee charges any extra fees or fees for a consultation. In Canada, those options are limited to consumer proposals or bankruptcy. To proceed with either,… Continue reading Will The Insolvency Trustee Charge Extra Fees or A Consultation Fee?
One of the most effective ways to deal with severe levels of debt is to file for bankruptcy and you must use a licensed insolvency trustee to go bankrupt. 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… Continue reading Trustee in Bankruptcy Basics
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… Continue reading What Everyone Should Know About the Licensed Insolvency Trustee