Licensed Insolvency Trustees Vs. Debt Consultants
Highlighting the differences.
Highlighting the differences.
At BDO, our Licensed Insolvency Trustees (LITs) are licensed by the federal government, and can file a consumer proposal or file for bankruptcy on your behalf. This sets them apart from an unlicensed, unregulated debt consultant, who cannot offer you these solutions. As LITs, our fees are set and regulated by the government—unlicensed debt consultants can charge whatever they wish, and their fees can vary widely. This table highlights some of the major differences between a Licensed Insolvency Trustee and an unlicensed debt consultant.
LIT | DEBT CONSULTANT | |
---|---|---|
Free first consultation | ✅ | ❓ |
Can file a consumer proposal | ✅ | ❌ |
Can file a bankruptcy | ✅ | ❌ |
Federally licensed | ✅ | ❌ |
Experience and education assessed by the government | ✅ | ❌ |
Regulated fees | ✅ | ❌ |
Formal complaint mechanism | ✅ | ❓ |
Insolvency counselling at a low set rate delivered to federal standards | ✅ | ❌ |
Select a new BDO Office then press Change Your Location
Change your locationCall 1-855-BDO-Debt or fill out the form below. A BDO Debt Advisor will contact you within 1 business day. Your story is more than your debt and we’re here to help.
Fields marked with an asterisk (*) are required.