1125 Highway 17 E
Thunder Bay, ON
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DEBT ASSISTANCE AT MNP LTD IN KENORA, ONTARIO
If you’ve been stuck in the cycle of debt for a while — and fast fixes are only adding to your debts — it may be time to think about a more permanent approach. Rest assured, MNP LTD is here to help. We offer Life-Changing Debt Solutions that can help you say goodbye to debt for good. Your local MNP LTD Licensed Insolvency Trustee in Kenora will work closely with you to design a unique plan that best suits your situation. We empower you to take control of your finances, so you can plan for a debt-free future.
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Navigate your options with our Licensed Insolvency Trustees
One of our Licensed Insolvency Trustees in Kenora will help you get to know which solutions are available to you, including:
At MNP LTD, we know every situation is different. 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. You can count on us for the discreet guidance, advice and support you need to be done with debt for good.
Filing for bankruptcy is a structured, formal process that gives you the opportunity to start fresh with your finances. Throughout the process, you’ll be assisted by one of our Licensed Insolvency Trustees, who will help you prepare and file all necessary documents, inform your creditors, stop wage garnishments and help prevent any further legal action against you.
A consumer proposal is a formal, legally binding process that is administered by a Licensed Insolvency Trustee; together, you will develop a formal offer to your creditors to settle your unsecured debt over time (no more than five years). As an alternative solution to declaring bankruptcy, a consumer proposal allows you to hold onto all assets — assets that might otherwise need to be handed over in a bankruptcy.
A debt consolidation loan takes all of your debts and combines them into a single loan that you will pay off each month, normally at an interest rate that’s better than your current credit card debt. Debt consolidation helps take the frustration out of juggling multiple debt payments, as only having one monthly debt payment to keep track of can make it easier to stay on top of 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.
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 resolve insolvency, it’s important to consider all available options first, including, but not limited to, a consumer proposal or a debt consolidation loan.
When it comes to deciding between debt solutions, getting informed is the first step. Whether you’re trying to wrap your head around the differences between bankruptcy and a consumer proposal or you’re interested in learning more about the steps involved in consolidating credit, you can turn to your local MNP LTD bankruptcy trustee in Kenora for the complete guidance and support you need. Take the first step: request a free confidential consultation today.