Trustee vs a Debt Consultant in Ontario
In Canada, only a Licensed Insolvency Trustee is able to file a bankruptcy or file a proposal on your behalf. Debt consultants are not authorized to do so.
If you are looking for advice on a proposal or a bankruptcy, it is always best to seek the advice of a Licensed Insolvency Trustee. They are federally regulated in Canada and they are the best way to get the proper advice for your particular financial situation.
Your first consultation with David Sklar and Associates is free so getting the best professional advice is just a phone call away. It is also recommended that you deal directly with your Licensed Insolvency Trustee rather than going through a debt consultant first.
Below is a table covering some of the main areas you may have questions regarding the services/regulations that is provided in Canada.
|Licensed Insolvency Trustees||Debt Consultants|
|First consultation is Free?||Yes||?|
|File a consumer proposal?||Yes||No|
|File a bankruptcy?||Yes||No|
|Are they Federally licensed?||Yes||No|
|Are they Federally regulated?||Yes||No|
|Experience & education assessed by the government||Yes||No|
|Are Fees Regulated?||Yes||No|
|Is there a Formal complaint mechanism?||Yes||?|
|Is there Financial counselling provided?||Yes||No|
If you are experiencing debt problems, it may be time to seek out a Trustee to review your case and see what the options are.