Licensed Insolvency Trustee in Ontario, Personal Bankruptcy Trustee, Trustee in Bankruptcy, Bankruptcy Lawyer -- what's the difference among these job titles? Which one do you need to file a personal Bankruptcy or Consumer Proposal? Which one is licensed by the Canadian Government? Here's an explainer.
We reached out to Derek Chase, a Licensed Insolvency Trustee with nearly 25 years of experience working in British Columbia. Derek primarily consults with individuals overwhelmed with debt, helping them find solutions. We asked Derek to share his realizations as an LIT during the pandemic.
You might have heard the word fiduciary thrown around in a conversation at a party or if you’ve ever looked for a financial advisor. But, do you know what the term really means? This article will provide a definition of fiduciary duty, what it is, and why it’s important to understand what it means.
If you are on the brink of consumer insolvency, know that you are not alone. While current Ontario Bankruptcy and Consumer Proposals remain lower than pre-pandemic levels, this is likely to change due to rising interest rates and the end of government programs. Now is the time to speak to a LIT.
There’s a lot of hype around cryptocurrency but is it a good investment? Due to high volatility, investing in crypto can be risky. If you’ve lost money in crypto and are considering bankruptcy, reach out to a Licensed Insolvency Trustee (LIT) today.
If you’re trying to stay on budget and repay your debt but you just can’t seem to get ahead, you might consider hiring a financial advisor to help to get your financial life in order. While it’s a great idea…
Sick of dealing with your debt alone? Are you interested in finding out what kind of Canadian debt relief programs are available? A Licensed Insolvency Trustee (LIT) can walk you through the different debt relief programs and help you determine which one is right for you.
We’ve all experienced buyer's remorse. It’s that unsettling feeling you have when you begin to question whether your purchase was worth the hefty price tag. If buyer's remorse is a familiar feeling, and you need help getting your financial life on track, reach out to a Licensed Insolvency Trustee.
In Ontario, you’re protected by the Ontario Collection and Debt Settlement Services Act (the “Act”). The Act sets out strict laws on what a debt collection agency can - and cannot - do. Among other things, it attempts to curb collection agencies from using harassing or intimidating tactics to get you to repay the debt you owe. Here's what this law covers.
Are you feeling burdened by household debt? Are you worried that a job loss or medical emergency will push you over the edge? Know that you aren’t alone and help is available. Reach out to a Licensed Insolvency Trustee (LIT) to discuss your debt management options.