In order to best advise a client struggling with debt, it is important to understand the relevant aspects of the situation to properly assess the solvency to recommend the next steps to finding a solution. This paper discusses things to consider when advising an insolvent individual who is struggling financially. It may also be useful when advising the creditor of an insolvent individual.

This paper is part of a collection presented at LESA’s Bankruptcy and Insolvency Essentials program in Edmonton on March 15, 2023.