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The cost of bankruptcies and consumer proposals are set by the government.
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Important information about Licensed Insolvency Trustees.
According to the Superintendent of Bankruptcy website, a Licensed Insolvency Trustees is described as:
“A Licensed Insolvency Trustees is a person licensed by the Superintendent of Bankruptcy to administer proposals and bankruptcies and manage assets held in trust. The trustee can give a debtor information and advice about both the proposal and bankruptcy processes and make sure that both the debtor’s rights and the creditor’s rights are respected.”
A person must use a Trustee to go bankrupt. However, Trustees serve other duties as well.
A Licensed Insolvency Trustee can serve as a professional debt consultant, give debt counselling, and help make agreements with the creditors to whom you owe money.
Another duty of a Trustees is to make proposals on your behalf to your creditors.
In the case of you requiring legal help your Trustees can refer you to the right insolvency lawyer.
Your Licensed Insolvency Trustees can also tell you when you can avoid bankruptcy.
Licensed Insolvency Trustees are professionals who have a strict code of ethics and are regulated by the Canadian government. Licensed Insolvency Trustees fees are also controlled by the government.
Our Licensed Insolvency Trustees are well trained professional debt consultants who must pass a bankruptcy course, have a university degree and must pass an RCMP investigation before they can receive their trustee license.
You can also find Licensed Insolvency Trustees at the links below:
Newfoundland and Labrador