{"id":11849,"date":"2024-07-08T07:45:14","date_gmt":"2024-07-08T14:45:14","guid":{"rendered":"https:\/\/www.sands-trustee.com\/?p=11849"},"modified":"2024-07-04T10:15:30","modified_gmt":"2024-07-04T17:15:30","slug":"why-a-licensed-insolvency-trustee-is-your-best-debt-help-resource","status":"publish","type":"post","link":"https:\/\/www.sands-trustee.com\/blog\/why-a-licensed-insolvency-trustee-is-your-best-debt-help-resource\/","title":{"rendered":"Why a Licensed Insolvency Trustee is Your Best Debt Help Resource"},"content":{"rendered":"
If you\u2019ve found yourself worried about managing your debt and wondering what you should \u2013 or even can \u2013 do to get out of debt, you\u2019re not alone. Struggling with debt can feel overwhelming and isolating and many Canadians are unsure where to turn for help. Fortunately, debt is a problem like many others in that it does have solutions and Canadian consumers have an ally in this \u2013 Licensed Insolvency Trustees.<\/p>\n
Read on to learn why a Licensed Insolvency Trustee (\u201cLIT\u201d) is your best debt help resource, and the key benefits to talking with a Licensed Insolvency Trustee for support.<\/p>\n
A Licensed Insolvency Trustee is a professional who is federally licensed to provide debt advice and services to people facing financial difficulties. The primary goal of a Licensed Insolvency Trustee is to help you deal with your debt.<\/p>\n
Talking with a Licensed Insolvency Trustee in a confidential debt consultation offers many advantages and the means to explore all the debt solutions available to you.<\/p>\n
Learn More About Licensed Insolvency Trustee Qualifications<\/a><\/p>\n It is free to have a consultation with a Licensed Insolvency Trustee<\/a> and this meeting is a confidential, no-pressure conversation.<\/p>\n The processes that a Licensed Insolvency Trustee follows are governed by law, and this includes any fees if you decide to continue working with a Licensed Insolvency Trustee. A LIT is the only type of debt help professional that can offer you these no-surprises guarantees.<\/p>\n It should never cost you money to find out your debt options. If you are ever asked to pay for debt advice this should be a warning that you may not be talking with a Licensed Insolvency Trustee.<\/p>\n How Does a Licensed Insolvency Trustee Get Paid? Learn More<\/a>\u00a0<\/strong><\/p>\n It\u2019s important that you\u2019re getting accurate advice and information about your situation and all the options you can consider to help you deal with your debt. Licensed Insolvency Trustees are uniquely qualified to provide you with unbiased, neutral debt advice to make sure your rights are respected, as well as those of your creditors.<\/p>\n When you have a consultation with a Licensed Insolvency Trustee you can expect to receive information about different debt solutions, and additional debt management resources and strategies that may help you in your unique situation. The options that may be discussed can include (but are not limited to):<\/p>\n Once you fully understand your situation and options you can make an informed decision about how to move forward. Many people are surprised to learn the realities of their debt obligations and the solutions they have available to them.<\/p>\n What Can I Do to Pay Off My Debt? Learn More<\/a>\u00a0<\/strong><\/p>\n Licensed Insolvency Trustees are the only professionals in Canada authorized to administer debt solutions that allow you to have some, or all of your debts forgiven, and this is most often done through a making a Consumer Proposal, or if you are unable to afford to repay some portion of your debt, personal bankruptcy<\/a>.<\/p>\n A Consumer Proposal allows you to consolidate and cut virtually all your debts<\/a> (including consumer debts and government debts), often by up to 50-80% in full settlement of your debt.<\/p>\n Bankruptcy Is Not Your Only Option \u2013 Learn More About Consumer Proposals<\/a><\/p>\n If you think you are headed for difficulty in managing your debt alongside your costs of living, are worried about an escalating problem with a creditor, or want to get support with a structured debt repayment plan, you should contact a Licensed Insolvency Trustee for advice and solutions.<\/p>\n The sooner you can recognize that your debt is becoming unmanageable or stressful and reach out to a Licensed Insolvency Trustee, the faster you\u2019ll be able to get back on track and move forward with your life, without the stress of debt. Be on the lookout for common signs of a growing debt problem such as:<\/p>\n Remember, anyone can talk with a Licensed Insolvency Trustee to get free, confidential debt advice<\/a> \u2013 no referral is needed, and you don\u2019t need to be behind in your debt payments or have a \u2018low\u2019 credit score to seek help with your debt.<\/p>\n Learn More About Debt Warning Signs<\/a><\/p>\n All Licensed Insolvency Trustees in Canada will have the same qualifications and authority, but your Licensed Insolvency Trustee should be local to your province<\/a> as some rules will vary province to province. You should also consider the following when talking with a Licensed Insolvency Trustee:<\/p>\nLicensed Insolvency Trustees Offer Free, No-Obligation Debt Advice<\/strong><\/h3>\n
\n
\n
Learn About All Your Debt Options with a Qualified Professional<\/strong>\u00a0<\/strong><\/h3>\n
\n
\n
Access Canada\u2019s Legal Debt Solutions<\/strong><\/h3>\n
\n
When Should I Contact a Licensed Insolvency Trustee?<\/strong>\u00a0<\/strong><\/h2>\n
\n
\n
How Do I Choose a Licensed Insolvency Trustee?<\/strong><\/h2>\n
\n