210-1205 Amber Drive
Thunder Bay, ON
Thunder Bay, ON
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DEBT ASSISTANCE AT MNP LTD IN THUNDER BAY, ONTARIO
If you’re struggling to make ends meet — and temporary solutions are only pushing you further into debt — it’s time to take a more permanent approach. Fortunately, your local MNP LTD office is here to help. Our Life-Changing Debt Solutions are designed to help you eliminate personal debt for good. One of our Licensed Insolvency Trustees in Thunder Bay will work one-on-one with you to develop a personalized plan that works best for your unique circumstances. We’re ready to help you take control of your finances, so you can live a debt-free life.
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Get to know your options with our Licensed Insolvency Trustees
One of our Licensed Insolvency Trustees in Thunder Bay will help you get to know which solutions are available to you, including:
AT MNP LTD, we know that debt relief is not one-size-fits-all. 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 depend on us to provide discreet guidance, support and unbiased advice throughout the process, so you can put your debt in the past once and for all.
The structured, formal process of declaring bankruptcy is intended to give individuals a fresh financial start. Your local MNP LTD Licensed Insolvency Trustee will guide you every step of the way, including helping you prepare and file all required documents, notifying your creditors, stopping wage garnishments and helping prevent further legal action against you.
Filed through a Licensed Insolvency Trustee, a consumer proposal is a formal, legally binding agreement between you and your creditors that enables you to pay back a portion of your debts over a set length of time (no longer than five years). As an alternative to filing for bankruptcy, a consumer proposal allows you to keep assets that might otherwise be taken away in a bankruptcy.
If you are approved for a debt consolidation loan, all of your debts will be merged into one overall monthly payment, which is often at a lower interest rate than your credit card debt. With debt consolidation, you don’t have to worry about keeping track of multiple debt payments, which can make it easier to budget. 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.
While you might see the terms “insolvency” and “bankruptcy” being used interchangeably, they have different meanings: bankruptcy is a legal declaration and process, and insolvency is a financial state in which a person cannot pay creditors 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.
Debt solutions aren’t one-size-fits-all, which is why it’s essential to get educated about your options. 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 Thunder Bay for the complete guidance and support you need. Get started today with a free confidential consultation.