Practical Course on Insolvency Counselling (PCIC)
On January 29, 2018, the Office of the Superintendent in Bankruptcy issued Directive No. 1R4 Counselling in Insolvency Matters (https://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03864.html), which came into effect on October 1st, 2018.
Canadian regulations under the Bankruptcy and Insolvency Act (BIA) require that individuals who counsel debtors in trustees' offices and credit counselling services become registered Insolvency Counsellors.
As a result, the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), and the Office of the Superintendent of Bankruptcy have revised the previous Insolvency Counsellor's Qualification Course “ ICQC” and created the new PCIC.
The Practical Course in Insolvency Counseling is available in English and French through the CIRP Qualification Program (CQP) and the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
Only qualified Insolvency Counsellors are permitted to counsel under the Bankruptcy and Insolvency Act (BIA). The PCIC provides the foundation for insolvency counselling and is one of the requirements for becoming a qualified counsellor under the BIA. All requirements are listed in the section “Becoming a Qualified Counsellor” located at the end of the Information and Registration Brochure.
This online course for CQP candidates and those who provide BIA counselling to bankrupts and debtors provides the basic knowledge required by a competent Insolvency Counsellor. Course topics, are arranged into four modules.
Candidates may register for the New Course starting in June 2019, with course materials being available in July 2019.
Applicants must submit a completed PCIC Application Form. Once the application has been approved, the candidate will be invoiced for course fees and access to the material will be provided to the candidate.
To be eligible to enrol in the PCIC, candidates must send required proof that they meet either of the following requirements: A and A i or A ii or B.
A: successful completion of either a high school diploma or high school equivalency certificate (having passed the General Education Development (GED) test), plus one of:
- A minimum of three (3) years of relevant practical work experience supporting an LIT or registered BIA insolvency counsellor (CV/Resume showing relevant experience required) or,
- A minimum of thirty (30) credit hours of post-secondary study completed in a diploma or degree program from a recognized post-secondary institution (copy of the diploma with the Academic Transcript provided by the institution required).
B: Enrolment in the CQP
Candidates who were unsuccessful on the last Insolvency Counseling Qualification Course exam (ICQC) offered in January 2019, must reapply as if they were new applicants as the entrance requirements have now changed. Application should be made online through our CAIRP website.
All candidates are required to have:
- an Internet connection to obtain course materials and other important communication;
- access at his or her workplace to a suitable site for taking the online National Exam and
- the commitment of an eligible Presiding Officer to monitor the exam
- The commitment of an LIT to assess the reflections assignments.
It is strongly recommended that all candidates spend 15 to 30 hours observing a BIA counsellor or LIT in the role of counselling debtors, as a way of gaining practical insights that will complement the course material.
Presiding Officers (“PO”)
Each candidate registered for the course must obtain the agreement of a Licensed Insolvency Trustee, BIA Insolvency Counsellor or other professional (eg. accountant, lawyer, etc.), who will not be taking the course in the future and is not a family member, to supervise the candidate’s online examination at his or her workplace and ensure that protocols are observed and confidentiality is maintained. In general, the PO should be prepared to:
- be present on the exam day for 2 to 3 hours to supervise the exam;
- return all exam-related documents to the CQP office, signed as necessary, including an Agreement to Preside and Confidentiality Statement and, after the exam, a Report of Candidate(s) Writing; and
- inform the candidate and CAIRP Office immediately if he or she is unable to fulfill the Presiding Officer duties and find a suitable substitute by the deadline (see Course Schedule on page 3 of the Information and Registration Package).
Candidates registering for the examination must arrange for a Presiding Officer to complete and submit a signed Agreement to Preside and Confidentiality Statement as part of the exam registration process.
Licensed Insolvency Trustee (“LIT”)
Each candidate registered for the course must obtain the agreement of a Licensed Insolvency Trustee, to assess the candidate’s “counselling reflection assignments”. In general, the LIT should be prepared to:
- Assess the candidates ability to effectively counsel debtors;
- Assess the candidates “reflection” assignments for both counselling sessions.