Debt Problems? Talk With a Real Trustee (A Local Licensed Insolvency Trustee)
No matter the situation, if you feel overwhelmed and confused, it’s best to reach out to an expert and receive professional advice. So if your debt is out of control, the process is no different—you should contact a local Licensed Insolvency Trustee (LIT). LITs are licensed by the Canadian Federal Government to help both businesses and individuals with expert debt solutions. We are a resource for anyone struggling with money issues.
What Can an LIT Do for You?
What happens when you meet with a Licensed Insolvency Trustee? In short, we offer debt relief solutions tailored to your situation. Everyone has unique issues, so we carefully review and discuss the specifics. We then build a plan and align it with your current finances; this ensures you eliminate your debts in a way that best fits your budget. Whether it is a Consumer Proposal or a Bankruptcy, you can always rest assured that the LIT will present options in your best interest.
Why Should You Choose a Licensed Insolvency Trustee?
Watch out for unlicensed debt advisors. Some advisors promise quick fixes, but it often leads to further financial turmoil.
In contrast, a Licensed Insolvency Trustee is regulated by the Office of the Superintendent of Bankruptcy (OSB) and is the only person who can offer Consumer Proposals or Bankruptcies. LITs operate under strict guidelines and a code of ethics and are usually members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), rigorously monitored by the Federal Government via the OSB.
That means LITs follow guardrails set by the Federal Government and conduct themselves under an umbrella of professional oversight. The government even manages the fees charged by an LIT; this is for the protection of the consumer and applies to both Consumer Proposals and Bankruptcy services.
Speaking With a Licensed Insolvency Trustee
When you call an LIT to discuss your options, always confirm that you are, in fact, talking with a Licensed Insolvency Trustee. If you are not, ask to set up an appointment with one so you get the best advice available.
That’s why at Chase & Associates, we make sure you speak to a Licensed Insolvency Trustee one-on-one. Our trustees will ask you the right questions and find the best possible outcomes that fit your needs.
Protip: If anyone asks for any money or payment upfront, it would be best to look into alternative options, as they are most likely not a Licensed Insolvency Trustee.
Choose Trust and Accountability
Prioritize trust and accountability when it comes to financial guidance. While unlicensed debt advisors may offer tempting shortcuts, the risks far outweigh the potential benefits. Only with a Licensed Insolvency Trustee can you be sure that you are receiving credible advice, comprehensive support, and options regulated by the Federal Government.
At Chase and Associates, we offer free consultations to discuss your financial situation. Other companies may charge for what should be free debt advice, or refer you to an LIT for a fee. This is never necessary; you can do that on your own without cost.
Next Steps
How do you get started? First, fully understand what a LIT is (you are well on your way in that department!). Then, do some thorough research for local Licensed Insolvency Trustees in your area. For other questions or concerns about your financial landscape, contact us at one of our convenient offices and speak to one of our trusted licensed professionals. We are here to help you, right when you need it.
