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FAQ

What is a Licensed Insolvency Trustee?

A Licensed Insolvency Trustee (LIT) is a federally regulated professional authorized by the Office of the Superintendent of Bankruptcy to administer consumer proposals and bankruptcies under the Bankruptcy and Insolvency Act. They are the only professionals who can file these documents.

How much does it cost to see a Licensed Insolvency Trustee?

The initial consultation with a Licensed Insolvency Trustee is always free and confidential. If you proceed with a consumer proposal or bankruptcy, the LIT's fees are regulated by the BIA and included in your payments — there are no upfront costs.

How do I verify a trustee's license?

You can verify any Licensed Insolvency Trustee's credentials on the Office of the Superintendent of Bankruptcy's searchable register at ic.gc.ca. Every provider in our directory includes a direct link to verify their license.

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