Until March 2020, there was no such thing as a virtual insolvency proceeding, unless you lived in a remote area. If you wanted to file a Bankruptcy or Consumer Proposal, you had to meet with a Licensed Insolvency Trustee in person.

The terminology surrounding debt problems and solutions can be confusing. How much debt is “overwhelming” debt? What does it mean to be insolvent — does it simply mean owing too much money to too many credit accounts? And what is the correct, “official” term for the professional who administers bankruptcies and consumer proposals?

Knowing your credit profile before you meet with your financial provider can do a lot to help you address any risks or gaps you may want to attend to, and increase your chances of success in the application process.

Half of Canadians have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

Half of Albertans have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

More than half of British Columbians have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

Half of Saskatchewan and Manitoba residents have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

More than half of Atlantic Canadians have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

More than half of Atlantic Canadians have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.

More than half of Atlantic Canadians have difficulties trusting companies that assist with managing debt or are embarrassed to seek financial advice.