March 30, 2020 by Questions
LIT (Licensed Insolvency Trustee) A Licensed Insolvency Trustee (formerly known as a Bankruptcy Trustee) is the only type of professional who is licensed and regulated by the Office of the Superintendent of Bankruptcy (OSB) to help Canadians get out of debt. Licensed Insolvency Trustees (LITs) can help debtors file for bankruptcy or submit a […]
March 30, 2020 by Questions
What is a Trustee in Bankruptcy? In the United States, bankruptcy is a relatively complicated and expensive process that practically forces you to hire a bankruptcy attorney. Fortunately, in Canada, those who are insolvent and owe a minimum of $1,000 can work with a licensed trustee in bankruptcy to get the fresh start they need. […]
March 26, 2020 by Questions
How to Find a Licensed Insolvency Trustee A Licensed Insolvency Trustee (LIT) is a federally regulated professional. Their main responsibility is to serve individuals and businesses with debt issues. LITs must complete a range of exams and courses before they are issued their government licence. Upon achieving this licence, they’re governed by a code of […]