Find a Licensed Insolvency Trustee in Canada

What does a Licensed Insolvency Trustee do?

A Licensed Insolvency Trustee, often shortened to LIT, is a federally regulated professional who helps individuals and businesses assess debt problems. LITs administer consumer proposals and bankruptcies, and their assessment should include other ways to address financial difficulty. An appointment does not mean that bankruptcy is your only option.

The OSB describes the LIT role and oversight. ConsumerProposal.ca is an educational publisher. We are not a trustee firm, do not administer insolvency filings and do not present our website content as an individual financial assessment.

Verify the person before sharing sensitive documents

1. Ask for the professional's full name. A job title such as debt specialist does not establish an insolvency licence.
2. Search the official directory. Use the person's name or your location in the OSB directory of active LITs.
3. Compare the contact details. Confirm that the office and firm match the professional you intend to contact.
4. Use a verified contact route. If something seems inconsistent, contact the office using its directory information before sending identification or financial records.

The directory distinguishes active trustees from other licence statuses and identifies different office types. Some listed locations operate by appointment. Check the details rather than assuming every address has a trustee available for walk-in visits.

LIT, bankruptcy trustee, OSB and CAIRP

For official roles, see the OSB website and CAIRP. Do not assume a company is government-operated because its website uses official-looking colours, terms or symbols.

What should you bring to a consultation?

You can start with a simple worksheet. Exact figures are useful, but missing a statement should not stop you from asking how to get help. Ask the office which documents it needs and how to deliver them securely.

• Recent take-home income and details of variable or seasonal earnings.
• Essential monthly expenses and larger costs that occur only a few times a year.
• A debt list showing balances, minimum payments, interest rates and collection notices.
• Mortgage and vehicle financing information, property values and other assets.
• Details of joint accounts, guarantees, support payments, tax debts and student loans.
• Your main concerns, such as keeping a vehicle for work or handling an urgent legal deadline.

Keep the initial list on paper or in your own document. Our contact form is not the place for a Social Insurance Number, banking credentials or copies of financial records.

Questions that make the conversation useful

Ask the LIT to compare at least the routes that genuinely apply to you, including the option of negotiating or budgeting without an insolvency filing. Request an explanation you can revisit after the appointment.

• Which debts would remain payable, and by whom?
• What happens to my home, vehicle, savings and tax refunds under each option?
• What would I pay in total, and what could change that amount?
• What duties must I complete, and what happens if I fall behind?
• Who will handle my file and answer questions after the first meeting?
• Is this consultation free, and what fees apply if I proceed?

The OSB says first consultations are typically free and fees for consumer insolvency administration are federally regulated. Confirm the arrangements with the office before proceeding. There is no need to choose an option simply because you attended an assessment.