How Do I Find a Licensed Insolvency Trustee?

Find a Licensed Insolvency Trustee Near Me

Licensed Insolvency Trustees (LITs) are experts in the field of financial trouble, providing guidance and services to those facing debt issues. As federally regulated professionals, they assist individuals and businesses in making informed decisions to tackle their financial woes.

Identifying a Licensed Insolvency Trustee

When it comes to identifying an active LIT, the directory holds the office coordinates of all active professionals. These trustees can file professional engagements under their personal name or on behalf of a corporate trustee, provided they are associated with one.

The responsibility for the professional engagement lies with the filing trustee.

Office Types

There are different types of offices associated with a trustee:

 

Business Office:
This is an added business address for a corporate trustee licensee type, if applicable.

Resident Office:
The main place of business from where the trustee practices normally.

Non-resident Office:
This office is operational but does not have a trustee present on a full-time basis. Services are offered by appointment only.

Head Office:
This signifies the headquarters or the main point of contact for a corporate licensee type or consumer proposal administrator.

 

Services Offered by Trustees

Trustees provide two main types of services:

 

Corporate insolvency (bankruptcy, Division I Proposals)

Consumer insolvency (personal bankruptcy, consumer proposals)

 

There can be multiple Licensed Insolvency Trustees at a particular location.

How Do I Find a Licensed Insolvency Trustee?

You can find a Licensed Insolvency Trustee by selecting one of the links below to view a list of all active trustees or to find a BIA Insolvency Counsellor.

The comprehensive list of LITs includes those who are actively practicing, semi-active (may perform LIT duties but not file professional engagements under their name), and inactive (an LIT who has a valid trustee license but may not perform LIT duties or file professional engagements under their name, e.g., an LIT who has temporarily left the profession).

Role of BIA Insolvency Counsellor

A BIA Insolvency Counsellor is a person registered by an LIT with the OSB. The LIT is accountable for this counsellor and may assign them to provide insolvency counselling for a specific insolvency filing, fulfilling the LIT’s duties as per subsection157.1(1) and paragraph 66.13(2)(b) of the Act, and in accordance with Directive 1R6 Counselling in Insolvency Matters.

 

In conclusion, finding a Licensed Insolvency Trustee can be done through careful research and understanding of the roles and responsibilities of these professionals. With proper care and consideration, you

Find Your Personal Debt Relief Solution

Licensed Insolvency Trustees are here to help. Get a free assessment of your options.

Discuss options to get out of debt with a trained & licensed debt relief professional.