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The term, “licensed insolvency trustee”, has recently become more commonplace; however, you still may have questions to ask regarding the role a licensed insolvency trustee plays in debt consolidation and bankruptcy. Below are the answers to some of these questions. What is a licensed insolvency trustee? A Licensed Insolvency Trustee (LIT) is a professional who…

Gambling addiction is a compulsion that is very difficult to overcome. It will probably come at no surprise that when gambling behaviors are out of control, debt, unfortunately, follows in the same pattern. The following pieces of advice will help guide you through these issues. Treat the gambling problem. The first step in treating your…

More often than not, when an individual is in a financial crisis, he/she will seek out a Trustee in Bankruptcy to aid with the matter at hand. However, the term, “Licensed Insolvency Trustee” is now becoming more and more commonplace – but what exactly is a Licensed Insolvency Trustee? A Licensed Insolvency Trustee (LIT) is…

You’ve all heard the saying, “save it for a rainy day”. Whether you’re younger, older, starting a new job, or retiring from an old one, everyone can benefit from saving money and planning for the future. In fact, everyone should do this – you never know when you may need to dip into your savings…

Seniors are increasingly carrying more debt as they enter their retirement years and as the years accumulate, so does the amount of debt they owe. There are multiple reasons for this. First of all, the average lifespan is now much longer than it used to be, therefore seniors would have needed to accumulate more money…

A bad credit rating is something that can put a damper on many things in your life. When you experience this situation, it makes it difficult to get that student loan, buy a home, or get a secure line of credit. You may think it is impossible to get out of this type of situation,…

Oftentimes, when people hear the word “bankruptcy”, they come to the immediate conclusion that they will lose everything they own. Although this is widely believed, this is a major misconception and we will clarify the terms of bankruptcy below. There are specific limitations called “personal bankruptcy exemptions”, which allow you to hold on to a…

  It may not be considered “romantic” to talk to your spouse about finances, but it sure is necessary. In fact, multiple studies have recently shown that one of the main causes of marital disputes regards the issue of money, finances, and debt. These martial disputes are a main contributor of the high divorce rate,…

As you may already know, there are numerous beliefs (some true and some not true) about what measures collection agents are allowed to take when approaching debtors so that they may recover funds from delinquent debtors without subjecting them to harassment. We thought it would be useful to share with you the information below which…