Why consult a licensed insolvency trustee?

People often think that you only consult a trustee when you’re about to declare bankruptcy. However, a licensed insolvency trustee is a personal finance professional. They can advise you on all matters related to your financial situation: setting up a budget, evaluating your level of debt, understanding your credit report and how to improve it. If your debt problems are an obstacle to your financial recovery, they can recommend the best options available to you, such as a consumer proposal or personal bankruptcy, while offering you legal protection from your creditors.

Let’s take a look at the different reasons why you should consult a licensed insolvency trustee:

1. Expertise and knowledge
   As a professional specializing in debt-related matters, a licensed insolvency trustee has in-depth knowledge of the laws surrounding debt management. Their expertise allows you to fully understand your options and make informed decisions based on your unique financial situation.
2. Objective advice
   A trustee is an impartial professional whose responsibility is to provide advice with your best interests in mind. They are bound by a strict code of ethics, and their licenses are issued by Industry Canada (Office of the Superintendent of Bankruptcy) after undergoing rigorous training and examinations.
3. Legal protection
   The trustee takes care of all the administrative procedures. They act as an intermediary between you and your creditors, protecting your rights throughout the process, and helping to reduce the stress and pressure that come with resolving debt issues.
4. Financial education
   A trustee not only helps you resolve your financial problems but also focuses on your long-term financial stability. They offer budgeting advice and provide tools to help you rebuild your credit and develop healthy financial habits for the future.
5. The only professional authorized to offer all debt solutions
   Formerly known as a bankruptcy trustee, the licensed insolvency trustee is the only professional recognized and regulated by the federal government to legally help individuals and businesses eliminate their debts.

Consulting a licensed insolvency trustee is a wise step for anyone facing financial difficulties. With their expertise, objectivity, and the legal protection they offer, they are a valuable ally in your journey toward lasting financial stability. Turning to their services means choosing a regulated, compassionate, and tailored solution to your financial reality.