Why Choose a Licensed Insolvency Trustee?
Many offer to solve financial problems – none have the power of a Licensed Insolvency Trustee (sometimes referred to as an LIT)
There are many different 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 an LIT, and many charge upfront fees so beware of this.
In many cases, you can spend hundreds or thousands of dollars on fees only to end up being referred to an LIT.
Licensed Insolvency Trustee
Licensed Insolvency Trustees are government-regulated professionals appointed by the Superintendent of Bankruptcy to administer legislation and offer you access to help 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. We can:
- 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.
Get Help Now