Why Was There a Trustee Name Change?

Bankruptcy Trustee Name Change

Why Trustees Are Called Licensed Insolvency Trustees

Trustee Name Change - Why Did Trustees Change Their Name?This name change was made by the Office of the Superintendent Bankruptcy and took effect on April 1, 2016. Permission was given for trustees to use this designation prior to April 1, 2016. The OSB decided to make this change to provide a better understanding of the full range of debt relief options that a Trustee can provide. A LIT (Licensed Insolvency Trustee) can provide a full range of insolvency options, and are not just for filing bankruptcy.
A Trustee can provide assistance with bankruptcy, debt counselling, filing a consumer proposal (in which case they are known as a “Licensed Consumer Proposal Administrator“), and other debt relief solutions. The Office of the Superintendent Bankruptcy requires this change so the public knows that the trustee has a valid license issued by the Superintendent of Bankruptcy. Trustees will have to identify themselves in all advertising as Licensed Insolvency Trustees. Originally the Office of the Superintendent of Bankruptcy was considering using the designation “Licensed Trustee in Insolvency and Restructuring” or the acronym “LTIR”. Many trustees objected to this name as being awkward and confusing.

Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation

Call 877-879-4770

or

Regardless of what you call them, trustees still provide the same exceptional service and dedication to helping people get their debts under control. Only a licensed insolvency trustee can provide bankruptcy services, consumer proposal services and can help with budgeting, credit counselling and debt settlement plans. If you are struggling with debt, a licensed insolvency trustee is your best friend and the main financial professional to know!

BANKRUPTCYCANADA

Get Your Free Consultation With a Licensed Debt Relief Expert Now!

Find out how you can quickly get out of debt by setting up a free consultation with us today.

Get out of Debt and have family bliss and happiness

Find Your Personal Debt Relief Solution

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

Legally Cut Your Debt By 80% And Stop Interest Charges

Stop Interest Charges Immediately
Unfreeze Bank Accounts
Stop Wage Garnishment
Stop Legal Actions

I was feeling overwhelmed by my credit debt, constantly receiving calls and letters from debt collectors, which caused a great deal of stress. It seemed like there was no way out of this situation. However, I discovered Bankruptcy Canada while listening to my local talk radio station. This organization proved to be friendly, empathetic, knowledgeable, and professional, with extensive experience in their field.

During our initial meeting, they took the time to understand my debt and financial circumstances. They explained the various options available to me and helped create a personalized plan that would be most beneficial for my situation. With their assistance, I was able to avoid declaring bankruptcy by presenting a consumer proposal to my creditors. Fortunately, my proposal was accepted, and I am extremely relieved to finally be free of debt, all thanks to BankruptcyCanada. The burden on my shoulders feels significantly lighter now, and I truly believe that Bankruptcy Canada has the most skilled specialists in debt relief.

Geoffrey,

Toronto