This page provides legal information only.  It is not intended to replace advice from a Licensed Insolvency Trustee (formerly called a Trustee in Bankruptcy) or a lawyer.  Licensed Insolvency Trustees are highly trained professionals licensed and regulated by the federal Office of the Superintendent of Bankruptcy to administer commercial and consumer proposals, bankruptcies and receiverships.  They must follow a strict Code of Ethics.  

Most people who speak to a Licensed Insolvency Trustee are considering either a consumer proposal or a bankruptcy.  Sometimes, though, all you need is advice on how to manage your money and a plan to pay down your debt.  A Licensed Insolvency Trustee will look at your situation and recommend how best to proceed.  

We’ll refer to Licensed Insolvency Trustees as a “Trustee” from now on.  

For further help look under "More information and help" below. The Financial Consumer Agency of Canada also has a Financial Toolkit to help adults manage their finances.

Last reviewed: October 2019 

Thank you to Licensed Insolvency Trustee Francyne Myers for reviewing this content for accuracy.