Licensed Insolvency Trustees vs. Bankruptcy Lawyers in Toronto

Licensed Insolvency Trustees are the most highly trained, qualified experts and counsellors in bankruptcy. Bankruptcy lawyers can also help you when you’re in dire financial circumstances, but they don’t quite have the abilities that trustees do. Here’s a rundown of the differences between Licensed Insolvency Trustees and bankruptcy lawyers:

Licensed Insolvency Trustee

When you schedule a consultation with us, your trustee:

If you have to file for bankruptcy, your trustee will tell you what to expect, including rules and procedures, and he or she will do the following:

  • Notifies creditors
  • Prepares official documentation
  • Administers your bankruptcy estate file during the whole process
  • Manages and distributes assets held in trust

Bankruptcy Lawyer

Toronto bankruptcy lawyers, on the other hand, cannot file for bankruptcy. In Ontario, all residents are required to file through a Licensed Insolvency Trustee even if they have a bankruptcy lawyer.

Bankruptcy lawyers deal with other complex bankruptcy issues..

Although bankruptcy lawyers may be helpful if there are any disputes in your case, they are not necessary in most personal insolvencies.

Talk to a Trustee First

We are here to find the best financial solution for you at Harris & Partners Inc. If you’re eligible for any alternative to bankruptcy, we’ll help you find that alternative. However, if you do need to file for bankruptcy, we will guide you every step of the way, and your first consultation is absolutely free. Call us today 905-479-5712 or contact one of our ten regional offices in Markham, Barrie, Brantford, Hamilton, Oshawa, Pickering, St. Catharines, Brampton, Toronto and North York.

Contact Us

Do you have any questions that you would like to discuss with our professional trustees? Fill out this form with as much information about your situation as possible. Or you can call Harris & Partners at 1-800-268-8093.

Find Us on Facebook

Back to Top of Page

It is never too late to obtain debt help. Contact the Licensed Insolvency Trustees at Harris & Partners Inc. in Toronto or one of our other 10 locations across Ontario. Call today for your free consultation: 905-479-5712.

Copyright Harris & Partners Inc 2017 - Legal
Created by

Legal notice