Announcement - New Designation for Insolvency Professionals
On December 2, 2015, the Office of the Superintendent of Bankruptcy Canada released Directive 33, Trustee Designation and Advertising, updating the designation to be used by Licensed Trustees with regards to the advertisement, promotion, and communications related to their services. All trustees holding a valid license will now adopt the professional designation “Licensed Insolvency Trustee”, which replaces the previous designation of “Licensed Trustee in Bankruptcy”.
The updated designation is welcome news for insolvency professionals as it better captures the broad range of services and level of expertise we offer to our consumer and corporate clients. Consumers often think that we only provide bankruptcy services and there is a negative connotation to the "bankruptcy" word that can lead consumers to seek out other options, such as unlicensed and unregulated debt settlement firms and for-profit credit counselling agencies. When that happens, the consumer does not always receive the professional advice and expertise they would otherwise receive if they had reached out to a Licensed Insolvency Trustee.
Powell Associates Ltd. is a Licensed Insolvency Trustee (LIT) focused on providing debt settlement, proposal and bankruptcy solutions for individuals and businesses. We offer free consultations to review your personal financial situation and practical debt resolution options. Contact us to discuss your situation over the phone or book an appointment to meet us face-to-face in Saint John, Moncton, Fredericton, Charlottetown or Dartmouth - it's your choice..