I am in a Debt Crisis.

I am in a Debt Crisis. I am overwhelmed. Where do I Begin to Look for Solutions? Who can I Trust?

A Licensed Insolvency Trustee (LIT), a uniquely trained, federally licensed and regulated professional can help. Baker Tilly Ottawa Ltd. is a LIT.

The first step is to call or email us. After a few simple questions, we will book a free initial consultation to help you determine the right course of action for you.

At the initial meeting, we will review your personal situation, finances, plans for the future, and the documents we requested you bring with you: ID, income tax status, monthly household income, your debts and asset particulars (deeds, policies, investment statements etc.). We will answer all of your questions.

What happens at the initial meeting?

We will review and discuss:

a) Your relationship and family status.
b) Current and future income expectations.
c) Your monthly household budget.
d) Assets you wish to keep.
e) The value of your assets.
f) Your debts, including, loans, lines of credit, credit cards, payday loans, tax arrears, mortgages and leases and, details of creditor legal actions.
g) Your thoughts about filing a consumer proposal or going bankrupt.

We will also ask if you have previously been bankrupt or filed a proposal. If applicable, we will also discuss your need for future credit, your expected relationship and family status, your age, health and work expectations and, your desire to avoid bankruptcy.

What factors suggest that bankruptcy or a consumer proposal is best?


Circumstances that suggest bankruptcy is best:

a) Little or no equity in assets.
b) No prior bankruptcies.
c) Low income.
d) Unpredictable monthly income.
e) Ongoing or possible relationship breakdown.
f) Health issues.
g) Your age and need for future credit.
h) Cannot provide a meaningful consumer proposal recovery.
i) Creditors will not accept a consumer proposal.
j) Not opposed to going bankrupt.

Consumer Proposal

Factors that favour filing a consumer proposal:

a) Equity in assets that will take three, four or five years to pay to the LIT.
b) Stable family and relationship status.
c) A prior bankruptcy.
d) No significant health issues.
e) Excess of monthly net income when compared to your budget.
f) Stable monthly income.
g) Ability to provide a meaningful recovery to the creditors with a consumer proposal.
h) Creditors will support a consumer proposal.
i) No significant gifts to relatives in the prior five years, or large payments to creditors in the past year.
j) A desire to avoid bankruptcy.


At Baker Tilly Ottawa Ltd. we believe that you cannot be truly healthy, happy and productive if you are overwhelmed by debt. It is our purpose to help you get control of your debt and to give you the knowledge and skills to become financially independent. Our professionals have the experience, knowledge and know how to help you make the decision that is best for you.