BANKRUPTCY TRUSTEE IN PENHOLD, ALBERTA
Are you searching for a bankruptcy trustee in Penhold? MNP LTD assists thousands of Canadians on an annual basis, helping them overcome their struggles with debt. We understand that unfavourable financial situations can arise for a number of different reasons; we also recognize that solvency is possible through tailored solutions.
When you stop by your local MNP LTD office in Red Deer, you will be greeted by friendly, experienced professionals with an in-depth knowledge of debt solutions. Our goal is to provide you with expert advice to help you make debt a thing of the past. There's no better time to take charge of your financial future — contact us now.
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We will outline all of your options
The goal of filing for bankruptcy is to reduce or free yourself from debt. Bankruptcy is regulated by the Bankruptcy and Insolvency Act. Before you begin, you should visit your local MNP LTD bankruptcy trustee, who will evaluate your situation and walk you through all available options. Alternatives to bankruptcy may be presented to you, in which case you can weigh your options before making a decision.
The following should be taken into account when considering the debt solutions available to you:
- Do you regularly spend more than you earn?
- Are you facing legal action (e.g. garnishment)?
- Do you use your credit card for everyday necessities?
- Are you at risk of having your credit card revoked?
- Have you been receiving collection letters or phone calls from your creditors?
- Are your financial struggles causing you stress?
If any of these questions ring true for you, it’s time to talk to our dedicated debt professionals.
The consumer proposal is a process that helps you make arrangements to pay the majority or a partial amount of your unsecured debt through monthly payment over a specific time frame (up to a maximum of 5 years).
Depending on the amount of your debt, it is possible for you to contact your current creditors directly and discuss a lesser interest rate or set up a repayment schedule that works for you.
Debt consolidation combines your debt into a single monthly repayment so that you can pay off 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.
When you're ready to speak with a bankruptcy trustee in Penhold, you can rest easy knowing the professionals at MNP LTD are here to walk you through every step of the filing process. You can also rest easy knowing that we’ll explore any other options that may be available to you. Together, we’ll guide you through the available options.