Licensed Insolvency Trustees in Saint-Jean-sur-Richelieu, Quebec

Licensed Insolvency Trustees in Saint-Jean-sur-Richelieu, Quebec

Licensed Insolvency Trustees (LITs) in Saint-Jean-sur-Richelieu are federally regulated professionals who administer consumer proposals and bankruptcies under the Bankruptcy and Insolvency Act (BIA). They are the only professionals legally authorised to file these proceedings in Canada.

What LITs Do in Quebec

A Licensed Insolvency Trustee in Saint-Jean-sur-Richelieu, Quebec provides a comprehensive assessment of your financial situation and explains all available options — not just insolvency proceedings. Services include:

• Consumer proposals: Negotiating with creditors to repay a portion of unsecured debt over up to 5 years, with legal protection from collection actions.
• Personal bankruptcy: Administering the bankruptcy process, including surplus income calculations and discharge requirements.
• Financial counselling: Two mandatory counselling sessions during insolvency proceedings, covering budgeting, credit rebuilding, and financial planning.
• Informal consultations: Evaluating whether insolvency is necessary or if alternatives like consolidation or DMPs would be more appropriate.

Quebec Exemptions

LITs in Quebec apply provincial exemption rules when assessing your file. In Quebec, you can protect up to None (but Civil Code protections apply) in home equity, $7,000 in vehicle value, $7,000 in household goods, and $7,000 in tools of trade. Exempt (except last 12 months contributions). Quebec follows Civil Code — some unique protections apply.

Finding a Trustee in Saint-Jean-sur-Richelieu

There are 1 verified providers serving Saint-Jean-sur-Richelieu. All LITs are licensed by the Office of the Superintendent of Bankruptcy (OSB) — you can verify any trustee's licence on the OSB's public registry at ic.gc.ca. Initial consultations are typically free and confidential. When choosing a trustee in Saint-Jean-sur-Richelieu, Quebec, look for experience with your type of debt situation and confirm they serve your local area.