It is not about filing bankruptcy, it is about finding the best solution for you.
Licensed Insolvency Trustees, How do they help?
- Licensed Insolvency Trustees also known as Bankruptcy Trustees are officers of the court. That is a scary way to say that they answer to the court for their actions. They are required to treat you and your creditors fairly and in accordance with the law.
- Bankruptcy trustees know what they’re talking about. Many LIT’s have an accounting designation (for which they studied (usually university) for at least 4 years) and a Chartered Insolvency and Restructuring Professional designation (for which they studied for at least another 3 years or more).
- Licensed Insolvency Trustees offer more than just bankruptcy. They can help you identify and understand all of the options available to you and direct you to the right resources and services to solve your problem.
- Insolvency Trustees are licensed by the federal government and monitored by the Office of the Superintendent of Bankruptcy. No one can just open a business and call themselves a bankruptcy trustee. They are also required to maintain the high ethical standards required by their professional associations.
- LIT’s fees for most personal bankruptcies & consumer proposals are set by the government and compliance with the rules is strictly enforced. They do not charge up front and all fees fit your budget.
- The first meeting with a Licensed Insolvency Trustee is usually free.