BANKRUPTCY IN SHERWOOD PARK, ALBERTA
Thinking of declaring bankruptcy in Sherwood Park? With the help of your local MNP LTD. Licensed Insolvency Trustee, your debt situation can be managed. Thousands of Canadians experience financial hardship every year, and for more than 50 years we have been there to help and provide solutions.
When you turn to your local MNP LTD. office in Sherwood Park, you'll discover a staff of dedicated, skilled and experienced professionals from the same community as you. Don’t allow debt to consume your life. Call or click to contact us today to discuss available debt solutions.
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Is it time to consider other debt help options?
Filing for bankruptcy can help legally minimize your amount of debt. It is regulated by the Bankruptcy and Insolvency Act. First, you must contact your nearest MNP LTD. Licensed Insolvency Trustee, who will go over and explain your options based on your overall financial situation. In many cases, after discussing the situation with an expert, people find that there are better debt options than declaring bankruptcy.
To determine the right course of action, you'll need to 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 tailor our solutions to your situation
A consumer proposal allows you to make arrangements to pay some or all of your unsecured debts through monthly payments over a specified period of time (up to a maximum of 5 years).
Depending on the amount of debt you have, it may be possible for you to contact your creditors directly and negotiate 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 consolidates your loans and pays your unsecured creditors in three or more years at an interest rate of 5% per annum.
Most people feel that with their debt piling up, declaring bankruptcy is the best course of action. However, there are many solutions that may be better suited to your particular financial situation. Together, we can work out a solution that's best for you.