David Sklar & Associates Inc., 647-931-5373
1670 Kingston Road West, Unit 1, Pickering, ON, L1V 3E2
Financial hurdles can bring great stress into your life, especially when you have creditors calling you about paying back your loan.
Bankruptcy in Canada is a legal process that helps you to alleviate debt from your life without you losing everything you own.
The ‘Bankruptcy & Insolvency Act’ protects both rights of the debtor as well as the creditor in Canada.
The Superintendent of Bankruptcy in the country has only authorized Licensed Insolvency Trustees (LIT) with the power to handle cases involving bankruptcy and consumer proposals within Canada.
David Sklar & Associates Pickering, ON Licensed Insolvency Trustee
If you are thinking of filing for bankruptcy in Pickering, Ontario, then you will need to approach a Licensed Insolvency Trustee, who will act both as a guide as well as an intermediary figure through the process of eliminating debt from your life.
Who is a Licensed Insolvency Trustee and how can they help with bankruptcy in Pickering, Ontario?
A Licensed Insolvency Trustee is the highest authority who has been trained in bankruptcy law and given a federal license to deal with cases involving bankruptcy in Canada.
Unlike debt consultancy agencies that are not federally regulated, a Licensed Insolvency Trustee’s fees are controlled by federal bodies.
As a result of this, the consultancy charges of a LIT expert tend to be lower than that of non-regulated agencies.
At the same time, since only a federally Licensed Insolvency Trustee will be able to file your bankruptcy proceedings for you, in order to declare bankruptcy in Pickering, Ontario, you will have to approach a local LIT so they can initiate the bankruptcy process in Pickering.
Aside from filing for bankruptcy, a Licensed Insolvency Trustee will also be able to:
- Find alternate solutions to filing for bankruptcy, such as consumer proposals where unsecured debts are involved.
- Provide debt counselling and management services that help you ensure you do not face debt again.
- Assist with debt settlement or debt consolidation procedures.
- Help you understand and mitigate your financial situation, as well as provide guidance on how you can manage your finances to ensure long-term stability in your life.
In order to become a Licensed Insolvency Trustee, a person must complete between two to five years of education in bankruptcy law, pass an examination conducted by the Oral Board of Examiners, and be investigated by the RCMP before they are authorized to handle cases pertaining to bankruptcy in Canada.
Licensed Insolvency Trustees in Pickering, Ontario, provide private, trustworthy and federally regulated guidance on all matters related to debt and bankruptcy within the area. If you want to eliminate debt from your life, then approach a local LIT and initiate the process of living a life free from debt.