How to Find a Licensed Insolvency Trustee
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 in debt and unable to cover the cost of their monthly repayments.
If you find yourself insolvent in this way, a Licensed Trustee can help.
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What is a Licensed Insolvency Trustee?
A Licensed Insolvency Trustee acts as an independent intermediary between debtors, their creditors and (where necessary) the Office of the Superintendent of Bankruptcy (OSB) and the bankruptcy courts.
They were formerly known as Trustees in Bankruptcy or Bankruptcy Trustees, although the title was officially changed in December 2015.
This is primarily because a Trustee can help you with more than Bankruptcy.
If you are insolvent they can explain all of the options available to you, and unlike many non-profit Credit Counselling services, they can do more than simply help you to set up a Debt Management Plan.
They can act as an administrator if you decide to pursue a Consumer Proposal and help you to arrange agreeable terms with your creditors- writing off up to 80% of your principal debt.
Alternatively, if you decide that Bankruptcy is the best option for you, they can handle all of the complex paperwork and ensure that you meet your obligations in a timely fashion so that your debts are automatically discharged.
Part of their job is making sure that you understand all of your options and are able to make the best, most informed choices when dealing with your debts.
No matter how much you owe or whom your creditors are, they can help you weigh your options and answer any questions you may have before helping you with whatever course of action you choose.
They can even help with government debts like student loans or money owed to the CRA.
There are many ways in which a Licensed Trustee can be invaluable if you find yourself insolvent.
Indeed, it’s impossible to file for Bankruptcy or set up a Consumer Proposal without one.
But how do you find a Licensed Insolvency Trustee near you?
Try your luck with a search engine
It’s the 21st century, and when we want to learn something, we usually ask a search engine.
You can always try searching for “Licensed Insolvency Trustee near me” or typing “Licensed Insolvency Trustee” followed by the name of your town or city.
If you don’t have any luck with this term you may want to try replacing “Licensed Insolvency Trustee” with “Bankruptcy Trustee” or “Trustee in Bankruptcy”.
Just keep in mind that the top ranking trustees aren’t necessarily the best.
They’re just the ones which have dedicated the most time and expense to Search Engine Optimisation (SEO).
Search the government database
Not everybody likes using search engines.
If you’d like to use something more official to find a Licensed Insolvency Trustee close to you, you may be glad to know that the Canadian government keeps a database of Licensed Trustees.
You can access this here.
It’s easy to use and can help you to find a trustee in your area.
Use our search tool to find a Licensed Insolvency Trustee near you
A Trustee is an invaluable resource if you become insolvent, and they play a huge role in helping people take control of, and eventually escape from, debt.
As such, we keep a database of our own.
You can access it here and use it to find trusted Licensed Insolvency Trustees in your area.
You can search by province, or by town.
Needless to say, every Trustee in our database is licensed by the federal government.
Whatever your needs, we can help you get debt free!
We understand the effect that debt can have on your wellbeing.
We’ve been helping Canadians escape the trap of debt since we first opened our doors in 1999.
Over the years, we’ve helped over 200,000 people just like you to get the fresh start they need and to live life debt-free.
We can help you to find the right Licensed Insolvency Trustee and provide you with practical advice that will help you to form an effective debt management strategy.
If you’d like to know more about our services, call us today on (877)879-4770.
A member of our team will be happy to arrange a risk-free, zero-obligation and 100% confidential callback.