Filing for Bankruptcy in Peace River, Alberta
Thinking of declaring bankruptcy in Peace River? With the help of your local MNP LTD. Licensed Insolvency Trustee, your debt situation can be managed. Every year, thousands of Canadians turn to us to help them get through various types of financial difficulties -- and you can rely on us too.
Your local MNP LTD. is staffed with dedicated professionals who are a part of and familiar with your community. Don’t allow debt to consume your life. Contact us now and regain control of your life.
There is 1 office near you
Could other debt alternatives provide relief?
Filing for Bankruptcy is an entirely legal process and can be effective in reducing the majority of your debt. It is regulated by the Bankruptcy and Insolvency Act. First things first, get in touch with your local MNP LTD. to learn about the options that are available to you. In many cases, after discussing the situation with an expert, people find that there are better debt options than declaring bankruptcy.
To determine how to handle your debt effectively, think about your current financial situation.
- Spending more than you earn?
- Facing legal action, such as garnishment?
- Using credit cards for necessities?
- At risk of losing credit card privileges?
- Receiving harassing collection letters or phone calls?
- Stressed out due to financial problems?
If this sounds like you and you are experiencing some or all of the above, contact us today.
We offer the most effective solution for your situation
The consumer proposal is a process that helps you pay off your entire debt or an agreed upon portion, either monthly or within a specific period of time (up to a maximum of 5 years).
Depending on the total amount of debt you may have, this is an option to speak with your creditors directly and arrange a lower interest rate or a repayment schedule that works for you.
Debt consolidation allows you to pull all your debt into one primary monthly repayment which can be repaid to multiple creditors.
Under the Orderly Payment of Debt (OPD) program the court will consolidate your loans and pay your unsecured creditors on your behalf at an interest rate of 5% per annum in three or more years.
The first thought people have when encountering financial difficulty is filing for bankruptcy. Depending on your financial situation, more appropriate solutions may be available. Together, we can work out a solution that's best for you.