Posts tagged licensed insolvency trustee
What Happens if I Default on My Consumer Proposal

Consumer proposals are administered by Licensed Insolvency Trustees (LIT) and typically allow the debtor to pay back all, or a portion of their unsecured debts, with one monthly payment, spread out over a reasonable period of time.  Proposals can also deal with debts by way of lump sum payments.

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Tackling Your Finances Head On

Hiding from the reality of your financial situation will do nothing to improve it. People have a pre-disposition to hide from the truth, particularly when the truth is ugly. Unfortunately, we see this every day.

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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”.

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