How to avoid paying unnecessary fees on your debt

If you’re trying to pay down debt and need help, it can be tempting to work with someone who promises to fix the issue fast. But be careful – some debt advisors charge hundreds or even thousands of dollars for debt relief solutions they aren’t authorized to provide or that you don’t need.

This “quick fix” can end up costing you a lot more money, without chipping away at your debt. Instead of turning to an unregulated, unlicensed debt advisor, consider speaking with a Licensed Insolvency Trustee (LIT).

LITs offer independent, unbiased advice about dealing with debt. They are required to assess your financial and personal situation and to discuss all options available for solving financial difficulties, including insolvency and non-insolvency options. And you can know that you’re dealing with someone who has proven they have the knowledge, experience and skills to be granted a licence from the Office of the Superintendent of Bankruptcy.

LIT services are available across the country, even in remote locations. Usually the first consultation is free, so you can get reliable advice with no commitment and no upfront fees.

If you’re struggling with debt, don’t wait too long. Be proactive and seek help sooner rather than later. Learn more and find a LIT at canada.ca/debt-solutions

Related Content

3 tips to protect farms from a cyber threat

3 tips to protect farms from a cyber threat

From automated equipment like a programmed irrigation system, to a weather tracking app, to an online database for suppliers or distributors, there are any number of internet-connected parts of a farm that can leave it vulnerable to cyber threats without proper...

read more
4 smart tips and tricks for living in a digital world

4 smart tips and tricks for living in a digital world

Almost every aspect of our lives relies on one form of digital technology or another, from our phones and computers to the smart features on our furnaces, fridges and more. We’re so dependent on these technological tools that many of us would be lost without them....

read more
What to do if you’re attacked by ransomware

What to do if you’re attacked by ransomware

You’ve likely heard about “ransomware” attacks on the news. Ransomware is a type of malicious software, or “malware,” that spreads through an entire computer system when it’s downloaded. The malware locks out users or steals their data. Then cyber criminals demand...

read more
What to do if you accidentally click that phishing link

What to do if you accidentally click that phishing link

For many of us, fishing is a treasured pastime. But none of us wants to get caught in a “phishing” scam. That’s when cyber criminals send you a message, like an email, text message, or something on social media, pretending to be someone you know or someone in...

read more