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DEBT ASSISTANCE AT MNP LTD IN GORRIE, ONTARIO

If you’re feeling weighed down by debt — and quick solutions are only pulling you deeper into debt — it may be time to take a long-term approach. This is exactly what sets MNP LTD apart. Our Life-Changing Debt Solutions are specifically designed to help you eliminate your debt for good. One of our Licensed Insolvency Trustees in Gorrie will work privately with you to put together the right plan of action for your unique circumstances. We’re ready to help you overcome your financial challenges, so you can start living a debt-free life.

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Understanding your options with our Licensed Insolvency Trustees

Your local MNP LTD Licensed Insolvency Trustee in Gorrie is here to help you navigate your options, which may include:

DEBT RELIEF

At MNP LTD, we know every situation is different. That’s why you’ll work closely with one of our Licensed Insolvency Trustees, who will walk you through your options and help you select the best course of action for your situation. We’re here to provide you with non-judgemental, unbiased advice and support from start to finish, so you can put your debt behind you for good.

BANKRUPTCY

Filing for bankruptcy is a structured, formal process that gives you the opportunity to start fresh with your finances. One of our Licensed Insolvency Trustees at your local MNP LTD office will lead you through each step of the process, from preparing and filing all necessary documents, alerting your creditors, stopping wage garnishments and helping prevent further legal action against you.

CONSUMER PROPOSAL

Overseen by a Licensed Insolvency Trustee, the consumer proposal process involves developing a formal offer to your creditors to settle your unsecured debt via fixed monthly payments over a specific period of time (no longer than five years). While you may need to hand over assets in a bankruptcy, a consumer proposal allows you to keep all assets.

DEBT CONSOLIDATION

Once you are approved for a debt consolidation loan, all of your debts will combine into one monthly payment, generally at a reduced interest rate — one that’s lower than your credit card debt. Since you only have a single monthly debt payment to make, debt consolidation can make it easier for you to stay on top of your finances. As accredited insolvency counsellors, our Licensed Insolvency Trustees will discuss all of your options with you, so you can decide on the best path to take to become debt-free.

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. If you are insolvent, you may be considering filing for bankruptcy; however, alternative solutions could also be available to you, like a consumer proposal or debt consolidation loan.

When it comes to deciding between debt solutions, getting informed is the first step. From learning the difference between filing for bankruptcy and making a consumer proposal to understanding the process of consolidating credit, your nearby MNP LTD bankruptcy trustee in Gorrie is ready to assist you one-on-one. Take the first step: request a free confidential consultation today.