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If you're thinking of enlisting a bankruptcy trustee, it's likely that you're struggling to manage your debt. You may be relying on short-term loans to cover monthly expenses, having your wages garnished or even receiving threatening calls from your creditors. If that's the case, it's time to schedule a free confidential consultation with your local MNP LTD. Licensed Insolvency Trustee.

We have decades of experience helping individuals overcome debt problems, which means we can explain all of the options available to you and recommend the right steps to financial stability — whether that means declaring bankruptcy or an alternative debt solution. You don't have to face debt alone: find out how the Licensed Insolvency Trustees at your local MNP LTD. can help.

Ready to learn more? Simply choose your province to get started.

We're here to explain your options

Bankruptcy is a structured, formalized legal process that allows you to hit the reset button on your finances — but it also has a number of limitations and longer-term implications, so it's smart to seek professional advice and carefully consider the alternatives available to you.

Your MNP LTD. Licensed Insolvency Trustee will get to understand your particular situation before outlining the bankruptcy process in detail, explaining any steps that you could take to avoid declaring yourself bankrupt. Rest assured that your consultation will be both free and private.

How does the bankruptcy process work?

  • Declaring bankruptcy means you can expect to be relieved of your debts (to unsecured creditors) in as little as 9 months. 
  • "Surplus income" payments will be required if your income exceeds a certain level.
  • Be advised that most Credit Bureaus will retain a record of your bankruptcy for 6 years (14 years if you have declared yourself bankrupt before). This will make credit more difficult to acquire. 
  • The government regulates your repayment amounts and other fees, accounting for your net monthly income and various other factors.

Alternative solutions

Our Licensed Insolvency Trustees understand that there are other, less drastic alternatives when it comes to managing debt and getting on the path to financial stability. Depending on the details of your particular situation, it may be that a consumer proposal is a more appropriate solution — or perhaps an orderly payment of debt, debt consolidation or informal debt settlement.

You can enjoy peace of mind when you turn to your local MNP LTD., where our friendly, impartial professionals can help you get your debt under control and your finances pointing in the right direction. Make your debt stress a thing of the past. Talk to your Licensed Insolvency Trustee today.