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A Licensed Insolvency Trustee is an officer of the court whose primary role is to ensure that your rights, and your creditors’ rights, are maintained throughout the bankruptcy or consumer proposal process. In Canada, trustees are licensed and regulated by the federal government, and will work with you to help determine what is the best option is for your unique situation. Licensed Insolvency Trustees abide by a strict code of conduct to explain all of your debt relief options, while other debt consultants may not.

There are many companies out there that offer credit-consulting and/or debt-consolidation services. However, only a Licensed Insolvency Trustee can provide all these services, as well as administer a consumer proposal or bankruptcy.

Licensed Insolvency Trustees are:

  • Licensed and have their fees regulated by the federal government
  • The only professionals authorized to administer government regulated insolvency proceedings (e.g., a bankruptcy or consumer proposal)
  • Highly trained and educated

What can a Licensed Insolvency Trustee do for me?

  1. Provide you with a free consultation to discuss your situation
  2. Deal with your creditors directly
  3. Stop the phone calls, wage garnishments and legal proceedings
  4. Negotiate a settlement with your creditors (consumer proposal)
  5. File a bankruptcy for you if a consumer proposal is not the right option
  6. Provide counselling for a better financial future

When should I contact a Licensed Insolvency Trustee?

  1. Your finances are causing you stress and you don’t know what to do
  2. You’re unable to pay more than the minimum monthly payments each month
  3. Your wages are being garnished
  4. You’re receiving collection calls
  5. You’re unsure whether you qualify for filing a bankruptcy or consumer proposal and want more information

To understand why it is important to discuss your options with a Licensed Insolvency Trustee, watch the short video below:

Terry Rogers

Licensed Insolvency Trustee
Contact Terry

Greg Best

Licensed Insolvency Trustee
Contact Greg

Shelley Koehli

Licensed Insolvency Trustee
Contact Shelley

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