insolvency professionals

A New Name for Insolvency Professionals

On December 2, 2015 the Office of the Superintendent of Bankruptcy made a big announcement; there will be formal change to the designation of insolvency professionals nationwide. As of April 1, 2016 the designation of “Trustee in Bankruptcy” or “Bankruptcy Trustee” will be replaced with “Licensed Insolvency Trustee.” This new designation will more appropriately describe the many services that these professionals provide to the individuals and businesses.

To read more about the new designation and what it means, please click the link below:

Derek L. Chase, CPA, CA, LIT

Being able to offer debt help assistance to individuals and corporations on a more intimate basis was a driving force in completing a “second CPA” by becoming licensed by the Federal Government as a Licensed Insolvency Trustee (previously Trustee in Bankruptcy) in 1997. It is extremely satisfying to be able to witness lives change for the positive due to a restructuring of financial affairs.