An insolvency trustee is seeing the number of people showing up at his door in financial difficulty on the rise.
Some who find themselves in hardship are looking for quick solutions, not always a good idea says Ian Penney, a licensed insolvency trustee and President of Janes and Noseworthy.
He says to beware of unregulated, unlicensed debt advisors who claim to be authorized to assist you with insolvency options.
Penney states that some charge hundreds or even thousands of dollars for services they are not licensed to provide, or for unnecessary services offered before, during, or after a consumer proposal or bankruptcy filing.
He says unscrupulous debt advisers are popping up all over Canada—usually on the internet or with a 1-800. Trustees are licensed by an agency of the federal government and are ethically bound to give fair and honest advice, not to sell you a service that you don’t need.