Why Choose a Licensed Insolvency Trustee?
We Solve Your Financial Problems
Many people offer to solve financial problems – none have the power of a Licensed Insolvency Trustee (LIT).
There are several types of organizations that offer financial counselling and advisory services. However, because many of these entities offer their services as the solution, this can often present a conflict of interest and may not result in the best solution for you.
- Mortgage brokers – will try to offer further credit and attempt to leverage your home.
- Tax lawyer – will offer legal services to combat the CRA vs looking at your actual ability to pay.
- Debt counsellors – many will charge a fee to make a referral to a LIT, and many charge upfront fees.
Beware of this: you can spend hundreds or thousands of dollars on fees only to end up being referred to a LIT.
Licensed Insolvency Trustees
Licensed Insolvency Trustees are government-regulated professionals appointed by the Superintendent of Bankruptcy to administer debt arrangement legislation and provide you access to assistance that others simply can’t.
We have the power to really deal with debt – not just re-finance it and let it continue to drag on.
- Stop interest.
- Reduce overall debt (principal, interest and penalties).
- Stop collection and enforcement actions like frozen bank accounts and wage garnishments.
This is why, when push comes to shove, even the other financial professionals mentioned above will call on us for solutions. You don’t have to pay a debt counsellor or intermediary to talk to us. Consultation is free and we have a fiduciary duty to provide you with unbiased professional advice.
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