Leamington
What is a Licensed Insolvency Trustee? A Licensed Insolvency Trustee, also known as a LIT, is a professional who specialises in providing advice and working with individuals or companies that are struggling to pay off debts. Licensed Insolvency Trustees are federally-regulated, and they help people to explore options and make well-informed decisions to get out … Read more
Licensed Insolvency Trustees in Canada A Licensed Insolvency Trustee (LIT) is a federally-regulated professional who specialises in helping people who are struggling with severe debt. Trustees assume responsibility for overseeing processes, including filing a consumer proposal or bankruptcy. If you are in debt, and your trustee advises you to consider these options, they are authorised … Read more
Every year, thousands of Canadians find themselves buried under a mountain of unsustainable debt, often through no fault of their own. In situations like these, they need qualified, accredited professionals who can reduce their debts through legal facilities, like bankruptcy. But who are these professionals? And how can they help you out of a financial … Read more
Bank Accounts in Bankruptcy When you file for bankruptcy, your trustee will seize your assets and pass them on to your creditors to settle a portion of the debt, but does a bankruptcy trustee seize your bank account? Many people worry about losing control over their bank account during the bankruptcy process, but that will … Read more
When your debts have mounted to the point where you are no longer able to repay them, this is known as insolvency. When you are insolvent, however, you still have a number of options available to you such as making a Consumer Proposal or filing for Personal Bankruptcy. To do either of these, however, you … Read more
When you find yourself struggling to make a mortgage payment, or finding that you’ve missed a payment on your car loan, it can be an overwhelming feeling when creditors start hounding your phone. A Licensed Insolvency Trustee can help mitigate these phone calls, clear up any questions you have, and counsel you through your financial … Read more
If you do decide to hire the services of one of our Licensed Insolvency Trustees, we will discuss the various debt relief options that are open to you. In some cases, it might be that filing for bankruptcy is your best course of action, especially if you are overwhelmed by your debts, and with little … Read more
Finding a Licensed Insolvency Trustee Household debt is just another part of life for a lot of Canadians. Yet, while some of us are able to manage our debts effectively and pay them down quickly, the rising cost of living can make this difficult for many. In fact, 47% of Canadians feel that they’re drowning … Read more
Do I Need a Licensed Insolvency Trustee or Bankruptcy Trustee? Personal debt can become a trap for many Canadians. In order to keep up with the cost of living, households can accumulate more and more loans and credit cards until their debts reach a point at which they’re extremely difficult to control. In some circumstances, … Read more
What is a 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 … Read more
