Licensed Insolvency Trustees in Ontario
What does a Licensed Insolvency Trustee do?
How LITs Help People Understand Debt Relief Options
A Licensed Insolvency Trustee (LIT) is the only federally licensed professional in Canada authorized to administer consumer proposals and bankruptcies under the Bankruptcy and Insolvency Act.
As Licensed Insolvency Trustees (LITs), we help people struggling with debt by offering practical advice and strategies to reduce what they owe. Only Licensed Insolvency Trustees can guide you through government-backed consumer proposals or bankruptcy. For many, these options are more practical and effective than debt consolidation loan or using a debt settlement agency.
Our Licensed Insolvency Trustees offer free financial advice
You’re already under a great deal of financial stress, that’s why we offer free financial advice. It’s important that you are aware of the many unregulated companies that claim to help, but simply charge a referral fee to pass you along to a Licensed Insolvency Trustee.
Federally licensed and OSB-regulated
Licensed Insolvency Trustees (LITs) are federally authorized by the Government of Canada to administer consumer proposals and bankruptcies. Governed by the Bankruptcy and Insolvency Act (BIA), a Code of Ethics, and overseen by the Office of the Superintendent of Bankruptcy (OSB), they ensure strict standards are met.
Formerly known as bankruptcy trustees until 2016, the new title reflects their broader services while their role remains the same: helping Canadians regain financial well-being.
We handle the paperwork, answer questions, and guide you to success
10 Reasons People in Ontario Choose an LIT
- Federally licensed and OSB-regulated
- Free confidential initial consultation
- Can file a consumer proposal or bankruptcy (when appropriate)
- May reduce what you repay through a consumer proposal
- Explains how insolvency may affect your home, car, and other assets
- In-depth knowledge of Insolvency Law
- Fees are set by federal tariff rules for bankruptcies and regulated in proposals
- Can help stop most collection calls and legal collection action once a filing is made
- Can stop harassing calls from collection agencies
- Can help stop a wage garnishment in many cases after filing
Meet Our 6 Licensed Insolvency Trustees
David Sklar
CA, CPA, CIRP, LIT
Licensed Insolvency Trustee
In 1997, David formed David Sklar & Associates Inc. a caring, professional firm that provides solutions for people dealing with financial stress through a wide range of services. Over the years, David Sklar & Associates has grown to multiple offices throughout Ontario and is one of the largest filers of Consumer Proposals and Bankruptcies in Ontario.
David is currently a member of the Canadian Institute of Chartered Accountants and the Institute of Chartered Accountants of Ontario. He is also a licensed credit counsellor, has earned the CIRP designation (Chartered Insolvency and Restructuring Professional), and is a general member of the Ontario Association of Restructuring Profession.
Mark Morgan
CA, CPA, CIRP, LIT
Licensed Insolvency Trustee
In 2006, Mark – a successful Chartered Professional Accountant, earned his Chartered Insolvency and Restructuring Professional designation. Active in Insolvencies since 2001, he uses his knowledge, experience and empathy to help people and businesses find the right solutions to their financial problems. Mark delights in helping clients, “realize that they can and will rid themselves of the financial chaos that has held them down for so long”. He encourages his clients to learn from past mistakes and then use that knowledge to build a better tomorrow.
Olga Chtcherbakova
CIRP, LIT
Licensed Insolvency Trustee
Olga is a Licensed Insolvency Trustee, Chartered Insolvency and Restructuring Professional (CIRP), with over sixteen years of experience in personal and commercial debt restructurings, bankruptcies, Consumer Proposals, and receivership engagements. Olga always brings a friendly caring and understanding approach to helping her clients. Her creativity and knowledge of the industry are what make her so effective when finding the right debt solution. Olga strives to put people at ease by eliminating their debt so they can move on to a positive financial future.
Richard Sklar
CIRP, LIT
Licensed Insolvency Trustee
As a Chartered Insolvency Restructuring Professional and Licensed Insolvency Trustee, with years of experience and a proven ability to help his clients get the fresh financial start they need, Richard has taken on the additional task of helping those Toronto Area residents who are in need of debt management support, find their solutions at David Sklar & Associates. Richard knows that debt resolution is not the end – it is a new beginning – a fresh start for a brighter financial life.
Chad Zizzo
CIRP, LIT
Licensed Insolvency Trustee
Chad is a dedicated Licensed Insolvency Trustee with years of experience helping individuals navigate financial hardship. Specializing in Canadian insolvency law, he provides expert guidance to anyone facing overwhelming debt, guidance on a variety of solutions tailored to each person’s unique situation. Chad ensures that the people he helps fully understand their choices and how each potential process works. Known for his empathetic and straightforward approach, Chad believes in empowering people with the knowledge they need to make informed, confident decisions about their financial future. He’s committed to helping individuals break free from the burden of debt and achieve a fresh, secure start—without judgment or unnecessary complexity. With Chad, you gain not only a professional adviser but also a trusted partner who’s genuinely invested in your long-term well-being.
Dennis Kish
BA, JD, LIT
Licensed Insolvency Trustee
Licensed Insolvency Trustee with over twelve years of insolvency experience as an LIT, with strong technical knowledge, including initial consultations, assessments, Division I proposals, report writing, drafting motions and court documents, and attending court. Skilled at helping individuals, small business owners, and professionals solve debt problems involving complex financial situations and tax debts with the Canada Revenue Agency, by utilizing insolvency proceedings, such as consumer proposals, Division I proposals, and bankruptcy court processes.
Previously practiced law in the areas of civil litigation, insolvency and creditors’ rights, and acted as legal counsel to banks, trustees and debtors in a wide variety of insolvency proceedings.
Drowning in debt?
We have your life raft
When you’re drowning in debt, it’s nearly impossible to think about anything else. The moment you allow yourself to feel happy about something, you worry if the next phone call will be the one that you won’t be able to financially recover from.
If debts are piling up and you’re struggling to stay afloat, the Licensed Insolvency Trustees at David Sklar & Associates are here for you.
What Is a CIRP-Designated Licensed Insolvency Trustee?
A Chartered Insolvency and Restructuring Professional (CIRP) is the most highly trained and educated debt expert in Canada. A CIRP-designated Licensed Insolvency Trustee is a debt professional who is licensed by the federal government to undertake insolvency proceedings such as consumer proposals and bankruptcies.
How We Communicate With Your Creditors
Once you file a consumer proposal or bankruptcy you no longer need to speak to your creditors. We will speak to your creditors on your behalf and let them know they can no longer pursue collections or legal action against you. You can start living stress free again.
Discussing your options with a LIT
Knowing your options is essential, and a Licensed Insolvency Trustee can walk you through each one. Bankruptcy or a Consumer Proposal might not be the right fit, but with expert guidance, you can make the choice your future self will thank you for.
Two Government-Regulated Debt Relief Options
Filing a consumer proposal
What is a consumer proposal? It’s a debt-relief option in Ontario that reduces your monthly debt payments by up to 80%.
Declaring personal bankruptcy
After you’ve exhausted all other debt-relief options, declaring personal bankruptcy will give you a fresh start.
Ready to leave your debt behind?
The first step is to meet with one of our LITs to review your options
Before tackling your debts, it’s essential to know all your options so you choose what truly helps. At David Sklar & Associates, we guide you toward the right solution. Sometimes practical advice is enough, you may not need a consumer proposal or bankruptcy, which we only recommend as a last resort. Make a decision your future self will thank you for and book a free, confidential meeting with one of our LITs.
Frequently Asked Questions About
Licensed Insolvency Trustee (LIT)
What is a Licensed Insolvency Trustee (LIT) in Canada?
A Licensed Insolvency Trustee (LIT) is a federally licensed professional authorized by the Office of the Superintendent of Bankruptcy (OSB) to administer consumer proposals and personal bankruptcies under the Bankruptcy and Insolvency Act.
What's the difference between a Licensed Insolvency Trustee and a debt consultant?
Only Licensed Insolvency Trustees can legally file consumer proposals or bankruptcies in Canada. Debt consultants are unregulated and typically charge fees to refer you to a trustee — often making your situation worse. LITs are federally regulated with set fees.
How are Licensed Insolvency Trustees regulated?
LITs are federally regulated by the Office of the Superintendent of Bankruptcy (OSB) under the Bankruptcy and Insolvency Act (BIA). They must follow a strict Code of Ethics and their fees are set by federal tariff for bankruptcies.
What is a CIRP designation?
CIRP stands for Chartered Insolvency and Restructuring Professional — the highest training and education designation for debt professionals in Canada. All David Sklar Licensed Insolvency Trustees hold the CIRP designation.
Do Licensed Insolvency Trustees charge for the first consultation?
No. Licensed Insolvency Trustees at David Sklar & Associates provide free, no-obligation initial consultations. There are no upfront fees, no hidden charges, and no commissions.
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Our federally 🇨🇦 regulated team of Licensed Insolvency Trustees in Ontario can help you get out of debt and in control of your own financial future.
We’ve helped thousands of people and we can help you too.
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