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Frequently Asked Questions
A Licensed Insolvency Trustee is federally regulated and can legally file consumer proposals and bankruptcies. They are the only professionals in Canada who can legally stop collection calls and wage garnishments. Credit counsellors can help with budgeting and debt management plans but can't file legal proceedings or stop collections.
No. Checking your own credit score is a soft inquiry and has no impact on your score.
Yes. A Licensed Insolvency Trustee is the only professional who can do this. Once you file a consumer proposal or bankruptcy, a legal stay of proceedings takes effect. Collection agencies must stop contacting you and wage garnishments stop immediately.
Only if you can comfortably afford the repayments. If you're already struggling with debt, a loan could make things worse. Speak to a Licensed Insolvency Trustee first. The consultation is free.