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DEBT ASSISTANCE AT MNP LTD IN PENTICTON, BRITISH COLUMBIA

If you’re struggling to break free from the cycle of debt — and short-term fixes are only sinking you further into debt — it’s time to consider a more permanent approach. This is what makes MNP LTD different. We provide Life-Changing Debt Solutions that are focused on helping your erase personal debt for good. Your local Licensed Insolvency Trustee in Penticton will work individually with you to put together a custom plan that’s right for your circumstances. We empower you to get back on solid financial ground, so you can finally enjoy a debt-free life.

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Understand your options with a Licensed Insolvency Trustee

One of our Licensed Insolvency Trustees in Penticton will help you get to know which solutions are available to you, including:

DEBT RELIEF

At MNP LTD, we are mindful that every situation is unique. For this reason, one of our Licensed Insolvency Trustees will carefully explain all of your options and help you determine the right path to take. We’re here to support you every step of the way, including providing the confidential guidance and unbiased advice you need to break free from the cycle of debt for good.

BANKRUPTCY

Filing for bankruptcy is a formal, structured process that offers you a fresh financial start. Your local MNP LTD Licensed Insolvency Trustee will administer the entire process from start to finish, including assisting you in the completion and filing of all required paperwork, informing your creditors, putting a stop to wage garnishments and working to prevent further legal action against you.

CONSUMER PROPOSAL

Developed with help of a Licensed Insolvency Trustee, a consumer proposal is a legally binding agreement between you and your creditors that outlines a plan for paying back your unsecured debt within a maximum term of five years. One of the advantages of a consumer proposal is that it allows you to keep assets that might otherwise be seized in a bankruptcy.

DEBT CONSOLIDATION

If you qualify for a debt consolidation loan, all of your debts will be combined into one monthly payment, generally at an interest rate that’s lower than your current credit card debt. With debt consolidation, you no longer have to juggle multiple debt payments, which can make it easier to budget and stay on track. 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

Sometimes mistaken as interchangeable terms, insolvency and bankruptcy mean two different things: bankruptcy is defined as a legal process, whereas insolvency is a financial state where a person is unable to pay back creditors on time. While insolvency is a condition can lead to declaring bankruptcy, you may have other options to consider, such as a consumer proposal or other debt consolidation options.

Debt solutions aren’t one-size-fits-all, which is why it’s essential to get educated about your options. Your local MNP LTD bankruptcy trustee in Penticton 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. Take the first step: request a free confidential consultation today.