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Posts Tagged ‘debt management plan’

On this Trustees Talk site we attempt to comment on items in the news, and items of interest to Canadians. As we have discussed previously, in June 2010, the Office of the Superintendent of Bankruptcy (OSB) initiated a Review of the Trustee Licensing Regulatory Framework . One of the items up for discussion was whether or […]

Debt Management Plans

July 5th, 2010 by A Licensed Insolvency Trustee

A debt management plan, also referred to as credit counselling, is a voluntary repayment plan to deal with your debts. The most common alternatives to a debt management program are a debt consolidation loan, or a consumer proposal. The idea behind a debt management program is simple – your debts are pooled together (they are […]

The Office of Superintendent of Bankruptcy is a special operating agency associated with Industry Canada, part of the federal government. The “OSB” regulates bankruptcy trustees (the people who administer bankruptcies and proposals, and ensure they comply with all aspects of the Bankruptcy and Insolvency Act). As the regulator, the OSB will often seek the input […]

Debt consultants and for profit credit counsellors have become very aggressive over the last few years. In some cases they may be able to help you get out of debt, but in most cases they can’t do anything for you that you can’t do for yourself. Here’s how they work: They run big advertisements in […]

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