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Declaring bankruptcy isn’t something that should be taken lightly. That's why it’s vital to seek unbiased advice from a licensed professional who can guide you through the entire process — and who can help you choose the path to becoming debt-free that’s most appropriate to your unique situation.

Rest assured, the Licensed Insolvency Trustees at your local MNP LTD. are here to help. Equipped with decades of expertise, our insolvency team knows how to help individuals regain control of their finances and start living a debt-free life. We can help you explore your options, so you can decide whether declaring bankruptcy is the right solution for you or if there’s a better path to take. Don’t let you financial situation burden you any longer. Contact with your local MNP LTD. office today or fill out our online form to get started.

Select your province from the menu for more information on our debt relief solutions.

Is this the right choice for you?

If you’re ready to put an end to threatening phone calls from creditors — or if you want relief from accumulating interest and wage garnishments — you may want to consider declaring bankruptcy. This legal process can provide you with a fresh financial start; however, it is a big decision to make and does not come without repercussions.

Fortunately, you can feel good knowing your local MNP LTD. Licensed Insolvency Trustee will walk you through the entire process from start to finish, outlining the benefits as well as the challenges. Your Licensed Insolvency Trustee will also present any alternative solutions that you may qualify for. Get to know your options by booking a free confidential consultation with MNP LTD. today.

The bankruptcy process, explained

  • If you are filing for bankruptcy for the first time, you could be discharged from your debt in as little as 9 months.
  • If your net family income exceeds standard federal guidelines, you will be required to make “surplus income” payments and your bankruptcy period will be extended to 21 months.
  • Information about your bankruptcy will generally be kept on record by Credit Bureaus for 6 years (this is extended to 14 years for those declaring bankruptcy for the second time), which means acquiring credit afterwards may take some time.
  • The amount you are required to pay and all related fees are based on government regulations, taking into consideration your net monthly income and the number of people in your household.

Other solutions

We recognize that debt struggles can be overwhelming and add stress to your daily routine. We also recognize that declaring bankruptcy might not be the most suitable solution for your unique situation, which is why we offer a number of alternatives, such as a consumer proposal, orderly payment of debt, debt consolidation, informal debt settlement and credit counselling.

If you want to find out which solution is the most appropriate for you — and you’re ready to get on the path to being debt-free — simply fill out our online form to schedule a free confidential consultation with an MNP LTD. Licensed Insolvency Trustee in your area, who will be pleased to walk you through your options and help you erase debt for good.