BANKRUPTCY TRUSTEE IN PENHOLD, ALBERTA
Are you in search of a bankruptcy trustee in Penhold? MNP LTD assists thousands of Canadians on an annual basis, helping them overcome their struggles with debt. We can help you get through tough times by outlining all of your options and helping you choose the solution that's right for you.
When you visit your local MNP LTD office in Red Deer, you can expect considerate, personalized service from highly-trained debt solution professionals. They are dedicated to making sure your finances are back in your control — and that debt troubles are no longer an issue. So if you're ready to tackle your financial stresses head-on, get in touch with MNP LTD now.
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We can help you weigh your options
The purpose of filing for bankruptcy is to provide you with a fresh financial start. It is regulated by the Bankruptcy and Insolvency Act. Before starting, the first thing you should do is reach out to your local MNP LTD bankruptcy trustee, who will evaluate your situation and explain the options available to you. You may find out that you have options other than filing for bankruptcy — making a consumer proposal, for example.
In order to arrive at the best remedy for your particular financial situation, it’s important to consider the following:
- 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.
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 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 combines your debt into a single monthly repayment so that you can pay off multiple creditors.
With the Orderly Payment of Debt (OPD) program, the court will merge your loans and pay — in three or more years — your unsecured debt on your behalf at a 5% yearly interest rate.
If you're ready to speak with a bankruptcy trustee in Penhold, you can rest assured you're well on your way to receiving sound professional advice you can count on. You can also feel good knowing we will discuss any alternatives that may be on the table. Together, we’ll guide you through the available options.