Filing for Bankruptcy in Sherwood Park, Alberta
Considering declaring bankruptcy in Sherwood Park? Start by turning to the trusted professionals at your local MNP LTD to uncover the many options you may have. Year after year, we help thousands of Canadians just like you break free from financial hardship.
Your local MNP LTD is staffed with dedicated professionals who are a part of and familiar with your community. Don’t let your debt troubles get out of control. Contact us today and regain control of your finances.
There is 1 office near you
Should you be looking into other debt solutions?
Filing for bankruptcy can help legally minimize your amount of debt. It is regulated by the Bankruptcy and Insolvency Act. The first step is to contact your local MNP LTD Licensed Insolvency Trustee, who will discuss and explain all of your options based on the assessment of your debt situation. Many times, after hearing of other options available, people have realized declaring bankruptcy wasn't their best choice.
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.
How your situation can benefit from our solutions
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 consolidates your debt into a single monthly repayment and allows you to repay 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.
Often times, when individuals face financial problems their first instinct is declaring bankruptcy. However, there are many solutions that may be better suited to your particular financial situation. We'll work together to create a plan that works best for you.