At Allan Marshall & Associates, we are always interested in meeting dedicated individuals with a passion to help others. If you are a professional who is hardworking, values teamwork, and providing quality services to all clients experiencing financial difficulties, then, we’d love to hear from you.
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What is a Licensed Insolvency Trustee ?
Licensed Insolvency Trustees are regulated by the Federal Government to provide advice and assistance to individuals and businesses with debt problems. An LIT is there to help individuals make informed choices about how to deal with their debt. Bankruptcy is only one option, an LIT is qualified to counsel and assist you with all debt alternatives.
Read more about the role of a Licensed Insolvency Trustee and why you can trust them with your debt.
How to Become a Licensed Insolvency Trustee
To become a Licensed Insolvency Trustee requires a lot of training, however, is a very rewarding career choice. A Licensed Insolvency Trustee should have a good background in accounting. There are many LIT’s that are in fact, Chartered Accountants. This degree is not a pre-requisite but does come in handy prior to insolvency studies. An LIT has a lot of responsibility and therefore, the Government has strict standards as to who is allowed into this profession.
The Superintendent of Bankruptcy is responsible for granting a license to LIT’s. There are minimum requirements to obtain a license which are:
- You must be of good character and reputation. (no criminal records)
- You must be solvent
- You must successfully complete all required courses
- You must pass an Oral Board Exam
To learn more about a career as a Licensed Insolvency Trustee, visit these links:
- Office of the Superintendent of Bankruptcy (OSG): How to become a Licensed Insolvency Trustee
- Canadian Association of Insolvency and Restructuring Professionals (CAIRP) website: CQP Qualification
