Be it the big or small businesses or individuals, a lot of people are dealing with debts regularly. Those who struggle with meeting their debt obligations often think of filing bankruptcy and may wonder whether there is any bankruptcy consulting services department by the government to help them.
The Canadian government has come up with many methods to help people to get out of debt, but there might not be a dedicated department to help them free of cost.
So, Is There Any Bankruptcy Consulting Services Department by the Government?
No, there isn’t. The government of Canada has an Office of the Superintendent of Bankruptcy that administers the BIA; Bankruptcy, and Insolvency Act, along with a few more duties under the CCAA; Companies’ Creditors Arrangement Act.
The OSB is responsible for licensing and regulating the insolvency profession but for the provision of insolvency consultation. So instead of searching for a Bankruptcy Consulting Services Department, you need to search for a licensed insolvency trustee consultant in Canada.
Who is a Licensed Insolvency Trustee?
They are licensed by the Office of the Superintendent of Bankruptcy (OSB) to help debtors learn about their options for debt relief and facilitate during the bankruptcy filing process. Their job is to protect the interests of creditors and help the debtor file insolvency.
Why Hire a Licensed Insolvency Trustee:
Providing Consultation: You should know that bankruptcy is not your only option to escape the piling debt. There are other ways to ensure you can find relief without feeling financially burdened and having bankruptcy mentioned on your record. Your licensed insolvency trustee will help you explore these options, such as consumer proposals, to see if you can avoid filing insolvency.
Administering Bankruptcy: If there is no other way and you have to take the bankruptcy route, the insolvency trustee is responsible for the administration of the bankruptcy process. He or she will be able to advise you on how to file for bankruptcy, what type of bankruptcy you should have, and other related matters.
Relief From Creditors: An LIT will directly deal with your creditors after the bankruptcy is filled. He or she will ensure the creditors do not continue to collect payments from you or file any lawsuits against you.
Federally Regulated: when you are consulting with a LIT, you will have the peace of mind that you’re talking to an individual that the government regulates. There’s no room for scams or wrong advice here. And in any case of dispute with the LIT, you can always file a complaint against them. Furthermore, they typically do not charge for the first consultation.
Parting Words:
You can always talk to the licensed insolvency trustees here at National Credit Help; we have various verticals to help people achieve better financial situations, including a dedicated bankruptcyconsulting services department. So feel free to call us today, and we’ll be more than happy to help you out!
Is There a Canadian Bankruptcy Consulting Services Department By The Government
Be it the big or small businesses or individuals, a lot of people are dealing with debts regularly. Those who struggle with meeting their debt obligations often think of filing bankruptcy and may wonder whether there is any bankruptcy consulting services department by the government to help them.
The Canadian government has come up with many methods to help people to get out of debt, but there might not be a dedicated department to help them free of cost.
So, Is There Any Bankruptcy Consulting Services Department by the Government?
No, there isn’t. The government of Canada has an Office of the Superintendent of Bankruptcy that administers the BIA; Bankruptcy, and Insolvency Act, along with a few more duties under the CCAA; Companies’ Creditors Arrangement Act.
The OSB is responsible for licensing and regulating the insolvency profession but for the provision of insolvency consultation. So instead of searching for a Bankruptcy Consulting Services Department, you need to search for a licensed insolvency trustee consultant in Canada.
Who is a Licensed Insolvency Trustee?
They are licensed by the Office of the Superintendent of Bankruptcy (OSB) to help debtors learn about their options for debt relief and facilitate during the bankruptcy filing process. Their job is to protect the interests of creditors and help the debtor file insolvency.
Why Hire a Licensed Insolvency Trustee:
Parting Words:
You can always talk to the licensed insolvency trustees here at National Credit Help; we have various verticals to help people achieve better financial situations, including a dedicated bankruptcy consulting services department. So feel free to call us today, and we’ll be more than happy to help you out!
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