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DEBT ASSISTANCE AT MNP LTD IN COBOURG, ONTARIO

If you’re overwhelmed by personal debt — and short-term solutions are only sinking you deeper into the cycle of debt — it’s time to consider a long-term approach. Rest assured, MNP LTD is here to help. Our Life-Changing Debt Solutions are designed to help you say goodbye to debt once and for all. Your local MNP LTD Licensed Insolvency Trustee in Cobourg will work privately with you to put together a tailored plan of action that’s right for your unique circumstances. We’re here to help you regain control of your finances, so you can enjoy a debt-free future.

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Compare your options with a Licensed Insolvency Trustee

When you visit your local MNP LTD Licensed Insolvency Trustee in Cobourg, we’ll discuss the options that may be right for you, such as:

DEBT RELIEF

At MNP LTD, we appreciate that each debt challenge is unique. That’s why you can expect to work closely with one of our Licensed Insolvency Trustees, who will help you fully understand your options and decide on the best course of action. With us, you can expect the discreet guidance and unbiased advice you need to erase debt from your life.

BANKRUPTCY

Personal bankruptcy is a structured, formal process that offers individuals a fresh financial start. The process will be led by a Licensed Insolvency Trustee who will assist you at every step, from preparing and filing all mandatory documents to alerting creditors, halting wage garnishments and helping stop further legal action against you.

CONSUMER PROPOSAL

In a consumer proposal, you’ll work with a Licensed Insolvency Trustee to negotiate a formal agreement between you and your creditors to make fixed monthly payments over time, up to a five-year maximum. One of the key differences between a consumer proposal and bankruptcy is that a consumer proposal allows you to hold onto all assets, which could otherwise be seized in a bankruptcy.

DEBT CONSOLIDATION

A debt consolidation loan combines multiple debts into a single overall loan that you will pay off every month, typically at a better interest rate than your credit card debt. With debt consolidation, having only one monthly debt payment to keep track of can make it easier for you to manage your finances. As an accredited insolvency counsellor, your local MNP LTD Licensed Insolvency Trustee will explain all of your available options, so you can decide on the right path to take and start planning for a debt-free future.

INSOLVENCY

While insolvency is often confused with bankruptcy, the two are not the same: bankruptcy is a formal legal process, and insolvency is a financial state in which an individual is unable to pay back lenders on time. While declaring bankruptcy can relieve insolvency, it may not be the only option available to you — other solutions could include a consumer proposal or a debt consolidation loan.

When it comes to deciding between debt solutions, getting informed is the first step. Your local MNP LTD bankruptcy trustee in Cobourg is here to answer all of your questions, from outlining the differences between declaring bankruptcy and making a consumer proposal to detailing the process of consolidating credit. A debt-free future awaits: request a free confidential consultation today.

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