What is a Licensed Insolvency Trustee

Licensed Insolvency Trustee (LIT) What does insolvency mean? Insolvency is the inability to pay one’s debts A Licensed Insolvency Trustee (LIT) is the only government authorized professional to conduct Insolvency proceedings such as Consumer Proposals and Bankruptcies LITs are regulated skilled professionals who provide assistance and advice to individuals and companies with financial difficulties Why […]

Continue Reading...

Responsibilities and Restrictions During Bankruptcy

Responsibilities and Restrictions during bankruptcy Responsibilities during bankruptcy: you must cooperate fully with the official assignee at all times, this includes requests for information, Notifying the official assignee whenever you change your name, if you get married, address, employment, terms of employment income and/or expenditure Notify official assignee if your financial circumstances change, Continue to […]

Continue Reading...

What is a Licensed Insolvency Trustee?

What is a Licensed Insolvency Trustee? Licensed Insolvency Trustees LIT’s are Federally regulated professionals who provide advice and services to individuals and businesses with debt problems LIT’s help people make informed choices to deal with their financial difficulties an LIT can provide the full range of options LIT’s are the only professionals authorized to administer […]

Continue Reading...