Filing for Bankruptcy in Vulcan, Alberta
Thinking of declaring bankruptcy in Vulcan? With the help of your local MNP LTD Licensed Insolvency Trustee, your debt situation can be managed. Every year, we help thousands of Canadians find trusted solutions for their financial problems, and we can help you too.
Your local MNP LTD is staffed with dedicated professionals who are a part of and familiar with your community. Don’t let debt control your financial future. Call or click to contact us today to discuss available debt solutions.
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What is your best course of action?
Filing for Bankruptcy is an entirely legal process and can be effective in reducing the majority of your 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. In the majority of cases, people discover that declaring bankruptcy is not required, but instead follow one of the alternative remedies we provide.
To determine the best course of action, 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.
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How your situation can benefit from our solutions
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 gathers your debt into a single monthly repayment so that you can repay multiple creditors through one monthly payment.
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.
The first thought people have when encountering financial difficulty is filing for bankruptcy. There are of course many alternatives that may be more suitable for your situation. We'll work together to create a plan that works best for you.