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How to Choose Your Licensed Insolvency Trustee

If you are in a debt situation and have lost control of your finances, it may be time to consult a licensed insolvency trustee. However, it can be difficult to figure out who to choose when it comes time to decide on the trustee who will be able to meet your needs. Here are the main criteria to consider in making the most informed choice, according to Poupart Syndic Inc.

Does the trustee have a valid license?

To ensure that the trustee has the required expertise, he or she must be certified as a licensed insolvency trustee (LIT) and hold a valid license issued by Canada's Office of the Superintendent of Bankruptcy. In fact, only professionals holding this license will be able to offer you adequate services, as they must comply with a strict code of ethics. Take note that there is no official classification to rate licensed insolvency trustees, but you can always consult the comments left on their website by previous clients.

Will you be able to receive a complete analysis of your financial situation?

When you meet with a licensed insolvency trustee in person, make sure that he or she can provide you with an accurate analysis of your financial situation. You should also be able to ask the trustee to clearly summarize the various options available to you as well as the advantages and disadvantages of each one in order for you to better understand the services offered or to answer your questions and provide you with reassurance.

If the trustee doesn't provide you with sufficient explanations, is not able to help you fully understand your situation or does not take the time to guide you to a solution that is appropriate for your situation despite the stress you are experiencing, give yourself more time before making a final decision, even if it means making another appointment or choosing another insolvency professional / licensed insolvency trustee who will take the time to listen well to you. Because your finances deserve to be given the greatest attention and Poupart Syndic Inc. is definitely in a position to do so, and has been since 2005.

What kind of client service does the trustee offer?

When it comes to client service, make sure that the staff is courteous, easy to contact and that a relationship of trust is established from the very beginning. It is essential that you have quick access to an advisor who will follow up on your file, whether by email or phone. If the licensed insolvency trustee doesn't call you back or you have difficulty reaching him or her, it is better to choose another company. Since debt situations are often very stressful, it is unnecessary to make matters worse by having doubts that the advisor will call you back as soon as possible to calm your worries. You should also know that after the first meeting, you are not required to make a decision immediately. In fact, you should have the opportunity to think everything through, with your mind at ease and without being pressured by the trustee.

In short, choosing a licensed insolvency trustee is of the utmost importance to your well-being and that of your finances. If all the above-mentioned criteria are met and you feel that you are listened to and respected in the process, you can rest easy, as the licensed insolvency trustee will certainly be able to provide you with the appropriate solutions to solve your debt problems. At Poupart Syndic Inc., you will quickly get a call back as well as an appointment within the next 48 hours. Contact us without further delay to obtain help from one of our qualified insolvency advisors so that you can get your finances in order.

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Need help? Contact us to get all the answers to your questions and put an end to your worries, in so doing.