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Licensed Insolvency Trustee Reviews in Alberta, Canada

If you’re looking for a professional to help you manage your debt in Alberta, you’ll want to make sure you’re dealing with someone reputable. After all, you will be trusting them with your personal financial circumstances – so you’ll want to feel confident that you’re working with someone who you can trust to offer you the very best service. 

Licensed Insolvency Trustees (LIT), formerly known as Bankruptcy Trustees, are located in every major city in Canada. There are over 1,066 individual Trustees, and you can find an LIT in your area of Alberta. A good place to start is to browse Licensed Insolvency Trustee reviews and testimonials so you can see first-hand, how others in a similar position to you have benefited from their service.  

Struggling with debt and financial difficulties can leave you feeling unsure of where to turn, but with the right support you can start on your journey to becoming debt free. 

How can a Licensed Insolvency Trustee help?

LITs are experts in all areas of debt support, and are licensed to file, manage and supervise Consumer Proposals and Bankruptcies. They will prepare and file any necessary paperwork to help take the weight off your shoulders, as well as dealing with your creditors on your behalf.

They are the only federally regulated debt advisors in Canada, licensed by the Office of the Superintendent of Bankruptcy. So you’ll be confident that when consulting with an LIT, you’re working with a qualified professional. 

The services they can provide include:

  • Credit counseling: Trustees are also trained credit counselors, who can review your finances and credit report and help you put together a monthly budget to improve your financial confidence. 
  • Consumer Proposals: A Consumer Proposal is a formal offer to creditors to settle outstanding debts. Once it’s decided with your LIT that a Consumer Proposal is the right option for you to settle your debts, they will review the process with you and file the proposal.
  • Filing for Bankruptcy: You can only file for Bankruptcy in Canada through an LIT. They will prepare and file any necessary paperwork and deal with your creditors on your behalf.

What to expect from a Licensed Insolvency Trustee

To ensure you’re receiving the best possible service:

  • Your LIT should offer a free, confidential initial consultation for you to evaluate your options
  • The service you will receive is completely confidential. All consultations are private and there is no risk in contacting a Trustee to ask any questions you may have
  • Your Trustee will not, and cannot impose a solution on you. The decision of what debt relief option you wish to go with is yours alone
  • Browse Licensed Insolvency Trustee reviews to read genuine testimonials of those who have consulted with the LIT firm, so you have a better understanding of the service they offer

Legal protection

Once you’ve decided  to file for Bankruptcy or a Consumer Proposal, you’ll receive immediate legal protection, known as a Stay of Proceedings. This means your creditors can no longer pursue any legal action against you and can no longer contact you for debt repayments, either themselves or through a debt collection agency. Wage garnishments will also stop immediately.

Regulated fees

LITs are not allowed to set their own rates or prices – instead, their fees are calculated and drawn from the funds that have been paid into each Bankruptcy estate or Consumer Proposal. All their fees are regulated by the Canadian government.

This can give you peace of mind that you won’t be facing any unexpected costs further down the line – LITs are required by law to be paid from the funds of your Bankruptcy or proposal, and not from you personally. 

Your initial consultation with an LIT is also free of charge, so you can assess if you want to continue working with them without needing to pay anything upfront.

Confidentiality 

When looking for an LIT in Alberta, you can be reassured that your information will be treated as strictly confidential. The conversations you have with an LIT will be private and you are under no obligation to file for Bankruptcy or a Consumer Proposal. Instead, the Trustee’s aim is to provide a complete picture of all your debt relief options and offer unbiased advice based on your personal financial circumstances. 

Begin your journey to becoming debt free today

If you’re looking for a Licensed Insolvency Trustee firm that offers a caring and supportive service, reach out to Allan Marshall & Associates today. We have recently opened new offices in Calgary, Red Deer and Edmonton to offer debt and insolvency services to support you. Our professional Licensed Insolvency Trustees have years of experience to help you settle your debts and work towards a brighter financial future.

Why not take a look at what others have said about our service with our Licensed Insolvency Trustee reviews? You’ll see first-hand how we’ve helped others just like you say goodbye to their debt and look forward to a fresh financial start.

Contact us today to schedule an appointment to discuss your options.