Struggling with debt can leave you feeling overwhelmed and unsure of where to turn. With the support of a Licensed Insolvency Trustee (LIT) in Red Deer, you can receive professional advice to help you on your journey to becoming debt-free.
LITs are experts in all areas of debt relief, from credit counselling and budgeting, to Bankruptcy and Consumer Proposals. With their guidance, you can find a personalized solution to help you take control of your debt and work towards a brighter future.
What does a Licensed Insolvency Trustee do?
LITs are regulated and licensed by the federal government to provide expert debt support services. This means they’re trained professionals in all areas of debt support, so you’ll know that when you consult with them you’re receiving professional advice. LITs can also deal with your creditors on your behalf, and it’s their job to ensure both the debtor and creditor are treated fairly.
How can a Licensed Insolvency Trustee help me?
If your debt feels unmanageable, consulting with an LIT can help you to assess all your options and decide on the best route forward. They will go through all your options with you to help you make a decision that best suits your situation.
LITs are trained and licensed to manage, file, and supervise Bankruptcies and Consumer Proposals. If you decide that filing a Consumer Proposal or filing for Bankruptcy is the best option for your situation, your LIT will prepare and file the necessary paperwork, and deal with your creditors on your behalf.
Here are the services an LIT can offer you:
- Filing for Bankruptcy: You can only file for Bankruptcy in Red Deer and throughout Canada through a Licensed Insolvency Trustee. LITs are trained and licensed by the federal government to offer Bankruptcy services and to ensure both the debtor and creditor are treated fairly.
- Filing a Consumer Proposal: Filing a Consumer Proposal in Red Deer can be an alternative to Bankruptcy. It’s a legally-binding agreement between you and your creditors to help you repay a percentage of your debt, in exchange for full debt forgiveness.
- Credit Counselling: LITs are also trained credit counsellors who can help you with money and credit management. They can assist you when putting together a monthly budget to manage your finances and debt repayments.
Why should I work with a Licensed Insolvency Trustee in Red Deer?
If you’re looking for support with your debt, consulting with an LIT can be the helping hand you need to get your finances back on track. Consider the benefits:
Licensed Insolvency Trustees have extensive experience and knowledge across all areas of debt support. They are licensed by the Office of the Superintendent of Bankruptcy (OSB), so when dealing with an LIT you’ll know you’re dealing with an expert.
Consulting with an LIT assures that you’ll receive unbiased, professional advice and the facts needed to make the right decision for you and your finances.
Dealing with your creditors
If you file for personal Bankruptcy, or a Consumer Proposal, your Trustee will deal with your creditors on your behalf. Your unsecured creditors will no longer be able to contact you for debt repayments, garnish your wages, or take legal action against you.
Fees are regulated
The fees charged by an LIT are regulated by the federal government. LITs are required by law to be paid from the funds from the Bankruptcy or Consumer Proposal You won’t be charged for your initial consultation with an LIT, in compliance with the Office of the Superintendent of Bankruptcy.
Ready to take control of your debt?
If you’re looking for support with your debt, reaching out to a Licensed Insolvency Trustee can be the first step towards a brighter financial future.
Allan Marshall & Associates have been helping people with their debt since 1979. Our team of expert LITs are caring debt professionals, with years of experience. They will work with you to put together a personalized plan of action.
Contact us today in our Red Deer office and begin your journey to becoming debt free. We can help™.