[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/rkillen.ca\/the-role-of-a-licensed-insolvency-trustee-in-mississauga\/#BlogPosting","mainEntityOfPage":"https:\/\/rkillen.ca\/the-role-of-a-licensed-insolvency-trustee-in-mississauga\/","headline":"The Role of a Licensed Insolvency Trustee in Mississauga","name":"The Role of a Licensed Insolvency Trustee in Mississauga","description":"The role of a Licensed Insolvency Trustee in bankruptcy 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 […]","datePublished":"2017-04-07","dateModified":"2024-04-19","author":{"@type":"Person","@id":"https:\/\/rkillen.ca\/author\/gino\/#Person","name":"Gino Yturralde","url":"https:\/\/rkillen.ca\/author\/gino\/","identifier":4,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/8ef7093d58c154bea017595931733ab9e8d2ba5f63d637904c638ff62d8e0598?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8ef7093d58c154bea017595931733ab9e8d2ba5f63d637904c638ff62d8e0598?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Richard Killen and Associates","logo":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2017\/04\/Senior-Couple-Talking-To-Insolvency-Trustee.jpg","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2017\/04\/Senior-Couple-Talking-To-Insolvency-Trustee.jpg","height":600,"width":900},"url":"https:\/\/rkillen.ca\/the-role-of-a-licensed-insolvency-trustee-in-mississauga\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA","name":"Consumer Proposals & Debt Relief in Cooksville, Port Credit & Mississauga","description":"https:\/\/rkillen.ca\/bankruptcy-trustee-in-cooksville-port-credit-mississauga\/ Sean Killen from the Cooksville, Port Credit and Mississauga office talks about debt relief for people in Mississauga.\n\nAre you in financial trouble?\n\nDo you have debt problems but really don't want to go bankrupt? \nWe are Licensed Insolvency Trustees (previously called Bankruptcy Trustees) in Cooksville. There are many loan consolidation, debt consolidation companies and debt counseling services in Mississauga however only a Licensed Insolvency Trustee can offer you all the debt relief options and explain the legal pros and cons of each option. \n\nMost people choose a consumer proposal vs a declaring bankruptcy. \n\nCall our Mississauga us at (289) 724-1099 to talk about consumer proposals. \n\nIf you are having debt problems and considering bankruptcy or a consumer proposal, I invite you to talk to one of our licensed insolvency trustees. This will ensure you have all the information to make an educated decision on your debt relief solution.\n\nWe can meet with you during business hours or book after hours appointments if that is more convenient for you.\n\nContact us for a fresh start (905) 822-1151\n\nThis may be the most stress relieving call you will ever make!\n\nFollow us on Social Media: \nhttps:\/\/www.instagram.com\/killen_trustee\/\nhttps:\/\/twitter.com\/Killen_Trustee\nhttps:\/\/www.facebook.com\/rkillenassociates\nhttps:\/\/www.linkedin.com\/company\/richard-killen-&-associates\/\nhttps:\/\/www.linkedin.com\/in\/richard-killen-020aaaba\/\n\nRichard Killen and Associates have 10 locations across the Greater Toronto Area.\n\nRichard Killen & Associates Ltd Scarborough West\nLicensed Insolvency Trustee and Licensed Consumer Proposal Administrator\n2130 Lawrence Ave, E  #402, Scarborough, ON M1R 3A6, Canada\nTel: +1 416-285-9511\n\nRichard Killen & Associates Ltd Scarborough East\n2100 Ellesmere Road,\nSuite #201D Scarborough, ON M1H 3B7, Canada\nTel: +1 416-644-1212\n\nRichard Killen & Associates Ltd Toronto on Danforth\n2600 Danforth Avenue,\nToronto, ON M4C 1L3, Canada\nTel: +1 647-699-3916\n\nRichard Killen & Associates Ltd Etobicoke\n2150 Islington Ave #202,\nEtobicoke, ON M9P 3V4, Canada\nTel: +1 647-932-5593\nRichard Killen & Associates Ltd Richmond Hill\n9140 Leslie Street\nRichmond Hill, ON L4B 0A9, Canada\nTel: +1 905-513-0699\n\nRichard Killen & Associates Ltd Brampton\n284 Queen St. East, Suite 224,\nBrampton, ON L6V 1C2, Canada\nTel: +1 905-456-3311\n\nRichard Killen & Associates Ltd Mississauga\n2155 Leanne Blvd #203,\nMississauga, ON L5K 2K8, Canada\nTel: +1 905-822-1151\n\nRichard Killen & Associates Ltd Mississauga\n130 Dundas St E #304,\nMississauga, ON L5A 3V8, Canada\nTel: +1 289-724-1099\n\nRichard Killen & Associates Ltd. Georgetown\n348 Guelph St,\nGeorgetown, ON L7G 4B5, Canada\nTel: +1 647-492-2219\n\nRichard Killen & Associates Ltd Pickering\n1410 Bayly Street, #6\nPickering, ON L1W 3R3\nTel: +1 905-420-6565\n\nRichard Killen & Associates Oshawa\n146 Simcoe St N,\nOshawa, ON L1G 4S6, Canada\nTel: +1 289-312-8872","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/Jg_8QQQoOmA\/default.jpg","https:\/\/i.ytimg.com\/vi\/Jg_8QQQoOmA\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/Jg_8QQQoOmA\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/Jg_8QQQoOmA\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/Jg_8QQQoOmA\/maxresdefault.jpg"],"uploadDate":"2019-09-05T16:00:45+00:00","duration":"PT30S","embedUrl":"https:\/\/www.youtube.com\/embed\/Jg_8QQQoOmA","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw#Organization","url":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw","name":"Richard Killen & Associates Ltd","description":"Since 1992 we at Richard Killen & Associates have helped thousands of people resolve their financial problems. With over 22 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.\n\nThe strength of our company is exemplified by the manner in which we treat our customers. We understand the intense pressure people are under. You will feel better after having spoken with our staff and your sense of dignity will be restored. The relief most people feel is tangible.","logo":{"url":"https:\/\/yt3.ggpht.com\/ytc\/AIdro_nK1yzM56nIFCGmWO7scxw1pLTW2Z8LVLH_kg8kdbbfw5M=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=Jg_8QQQoOmA#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":9}]]},"about":["Bankruptcy","Consolidation Loans","Consumer Proposals","Debt","Finances","Financial Advice"],"wordCount":624,"keywords":["licensed insolvency trustee in Mississauga"],"articleBody":"The role of a Licensed Insolvency Trustee in bankruptcy 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 only professionals licensed by the Federal Government of Canada to provide debtor information and advice to individuals and businesses with debt problems to help them make informed choices to deal with their financial difficulties. In addition, they are the only ones permitted by law to provide and perform debt restructuring services under the Bankruptcy & insolvency Act (BIA).Licensed Insolvency Trustees in bankruptcy Mississauga were previously called bankruptcy trustees, or trustees in bankruptcy. The Office of the Superintendent of Bankruptcy Canada has recently changed their designation from bankruptcy trustee to Licensed Insolvency Trustee (LIT) in order to clearly differentiate them from debt consultants who are not licensed by the federal government to provide debt services. Consumer Proposals & Debt Relief in Cooksville, Port Credit & MississaugaWatch this video on YouTubeThe new designation is important to help eliminate any confusion or doubt among consumers about the legitimacy of LIT\u2019s to provide government programs to eliminate debt. When dealing with a Licensed Insolvency Trustee, consumers are protected in three ways:The Canadian government regulates the insolvency profession and ensures that Trustees are efficient and effective in complying with the insolvency process.The Code of Ethics for Trustees establishes a standard for services that they are required to provide to a business or individual who has filed for bankruptcy.The laws regulating the insolvency process makes sure that both the debtor\u2019s rights and the creditor\u2019s rights are respected.In Mississauga, a Licensed Insolvency Trustee can provide a wide range of debt management solutions, including consumer proposals, loan consolidations, and bankruptcies. Insolvency Trustees are the most highly trained and educated debt experts that you can talk to. In most cases, trustees have obtained a university degree and most of them hold an accounting designation. For licensing, all trustees are required to complete a three-year bankruptcy and law course, pass a comprehensive oral examination, and undergo background investigation by the federal and national police force of Canada (the Royal Canadian Mounted Police). Only trustees who are licensed by the Office of the Superintendent of Bankruptcy Canada (OSB) can hold the designation of Licensed Insolvency Trustees. Their role as debt professionals include the following:Provide free initial consultation to review your financial situation Explain to you in detail all your debt relief options, not just bankruptcyRecommend the best debt management solution that is best to your situation, which may or may not include any type of insolvency solution provided by the Bankruptcy & Insolvency ActAdminister consumer proposals and bankruptcies and manage assets held in trustGather all vital information to file the necessary documents and start insolvency proceedingsNotify your creditors, accept and review all claims and administer the rules of the processApply for your discharge or completion certificate once you\u2019ve completed all your dutiesEnsure that everyone complies with their duties and responsibilities under the law.If you are deep in debt and are getting harassed by non-stop collection calls and wage garnishments, consulting with a trustee is the most risk-free and inexpensive option you can take towards the right direction. A Licensed Insolvency Trustee in Mississauga can help you determine which debt relief option is best for you and your family so you can be on the road towards a debt free life."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"The Role of a Licensed Insolvency Trustee in Mississauga","item":"https:\/\/rkillen.ca\/the-role-of-a-licensed-insolvency-trustee-in-mississauga\/#breadcrumbitem"}]}]