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The Role of a Licensed Insolvency Trustee in Mississauga

Posted on Apr 7, 2017 in Bankruptcy, Consolidation Loans, Consumer Proposals, Debt, Finances, Financial Advice |

The role of a Licensed Insolvency Trustee in Mississauga is critical in helping consumers who choose to go through the process of filing for bankruptcy to solve their overwhelming debt problems. Not only do they play a very big part in helping to minimize confusion, but they are present from beginning to end to make sure that every step of the process gets done as quickly and efficiently as possible. Licensed Insolvency Trustees (LITs) are the...

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Consumer Proposals in Toronto

Posted on Oct 29, 2016 in Consumer Proposals |

In November 1992 the Bankruptcy Act received a broad overhaul for the first time since 1966. If you can imagine the changes that had taken place in Canadian society between those years you can understand that this was due; probably overdue. One of the main changes to the Act, other than re-naming it the Bankruptcy and Insolvency Act (BIA), was the introduction of something called a Consumer Proposal. It was a game changer. A proposal of any...

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Bankruptcy Counselors Toronto vs Licensed Insolvency Trustee

Posted on Oct 10, 2016 in Bankruptcy, Consolidation Loans, Consumer Proposals |

It almost sounds funny, doesn’t it? Bankruptcy Counselors Toronto – somebody who counsels people, presumably in Toronto, on how to go bankrupt? Perhaps the term is misleading? I think so. Real Bankruptcy Counselors, in Toronto or elsewhere, don’t counsel people to go bankrupt. In fact a Bankruptcy Counselor would probably spend more time trying to figure out how the person seeking advice could stay out of bankruptcy rather than go in it. The...

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Insolvency Solutions and Information on the Internet

Posted on May 2, 2016 in Bankruptcy, Consumer Proposals |

You are probably reading this on our website. Everybody nowadays seems to use the internet to look things up and research matters of interest to them. Insolvency solutions (bankruptcies and consumer proposals) are not an exception. There are a thousand different things that could be said on a website or through social media about debt problems and the various solutions available to those in need of them. Information is information and the...

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How Does A Consumer Proposal in Toronto Work?

Posted on Apr 30, 2016 in Consumer Proposals |

You hear a lot about consumer proposals in Toronto nowadays. Since, in my experience, practically nobody wants to do a bankruptcy it’s no wonder that consumer proposals have become the most talked about part of the personal insolvency business. In fact almost half the people who deal with a Licensed Insolvency Trustee like Richard Killen & Associates do a consumer proposal instead of a bankruptcy. But how do they work? A consumer...

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Consumer Proposal vs Bankruptcy- which to choose?

Posted on Apr 28, 2016 in Bankruptcy, Consumer Proposals |

I’ve been in the insolvency business in Toronto for over 34 years and in all that time I don’t ever remember meeting anyone who actually wanted to go bankrupt. Let’s face it, who would? I have met an awful lot of people who did realize and accepted that bankruptcy was the solution they needed. But, going bankrupt really hadn’t been on their To Do list when they left high school, right? So I know that the vast majority of...

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