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Burnaby Licensed Insolvency Trustee

Burnaby Licensed Insolvency Trustee

If you’re feeling overwhelmed and exhausted by debt and you’re not sure what to do, it’s time to call a Burnaby Licensed Insolvency Trustee (LIT)

An LIT at Allan Marshall & Associates can help you navigate the strain and uncertainty that accompany debt. A Licensed Insolvency Trustee will work with you to assess your finances and create a plan to help find your fresh financial start so that you can stop stressing and start enjoying your life. 

What is a Licensed Insolvency Trustee (LIT)?

An LIT, formerly known as a Bankruptcy Trustee, is a debt professional licensed by the Canadian government to administer a variety of debt solutions. In Canada, an LIT is the only professional authorized to perform government-regulated insolvency proceedings, including a Consumer Proposal or a Bankruptcy. 

Benefits of Working With a Burnaby Licensed Insolvency Trustee

When you partner with an LIT at Allan Marshall & Associates, you can take advantage of the following benefits: 

  • Specialized expertise. Navigating debt and personal finances can be complex. When you reach out for help, you want to make sure the advice you receive is accurate and effective. When you work with an LIT, you never have to worry about the quality of advice and information you’re receiving. All LITs are licensed and regulated by the Office of the Superintendent of Bankruptcy (OSB). To get their license, they must demonstrate they have the knowledge and expertise needed to help Canadians solve their debt issues.  
  • Wide range of debt options. LITs are the only debt professionals in Canada authorized to administer the entire range of debt relief solutions, including Consumer Proposals and Bankruptcies. 
  • Legal protection. As soon as you enter into a Consumer Proposal or Bankruptcy proceeding, all creditor lawsuits, collection calls, and wage garnishment will stop immediately.
  • Ethical. LITs are bound by a strict Code of Ethics that outlines everything from what information they must provide to creditors to how they can advertise their services. 
  • Regulated fees. When you work with an LIT, you never have to question if you’re being overcharged. All LIT fees are regulated by the federal government. And, when you work with an LIT at Allan Marshall & Associates, your first consultation is always free.  
  • Support. Dealing with debt is often a lonely and isolating process. When you partner with an LIT, you no longer have to deal with your debt alone. You have the LIT’s support and expertise on your side. Your LIT will deal with your creditors on your behalf and guide you through every step of the debt relief process. 

Services Offered by a Burnaby Licensed Insolvency Trustee

When you’re dealing with mountains of debt, you might think Bankruptcy is your only option. This is often not the case. An LIT can recommend the debt solution for you as they can administer the most comprehensive range of debt options in Canada, including: 

Credit Counseling

In a credit counselling session, an LIT will work with you to understand the root causes of your debt. They will also provide you with targeted education and tools to help you overcome your current debt, and prevent it in the future. For instance, your LIT may make budgeting suggestions to help manage your household finances.

Consumer Proposal

A Consumer Proposal is a legal process that only an LIT can administer. In a proposal, you and your LIT create an offer to pay your creditors a percentage of what you owe, extend the time you have to pay, or both. If your proposal is accepted, you have a maximum of five years to complete the terms you agree to. 


While no one wants to file for Bankruptcy, sometimes it is the right debt option. The purpose of Bankruptcy is not to punish, Instead, it’s to provide honest Canadians who are down on their luck with a fresh start. When you file for Bankruptcy, you are discharged from most of your debts. In exchange, your LIT will sell your non-exempt assets to try and raise money to repay your creditors. You will have to adhere to certain obligations during your bankruptcy, however once discharged, you are free from your debt. 

Allan Marshall & Associates: Your Local Bankruptcy Experts

If you’re finding it difficult to manage your debt, reach out to a Licensed Insolvency Trustee in Burnaby. As local LITs, we understand the unique financial challenges that residents experience. 

At Allan Marshall & Associates, we’ve been helping Canadians overcome their debt issues for over forty years, and we’ve seen it all! There is no need to feel embarrassed or ashamed about your debt. Everyone falls on hard financial times, and we are here to help you find your fresh start. 

When you’re ready to stop stressing about your debt, give us a call for a Free Consultation at 1-888-371-8900, or fill out our online contact form. We can help relieve the burden of debt. 

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