MNP Debt Blog

Your financial state is one of the most private and personal aspects of your life, one that is typically only discussed with family members and the closest of friends.

If you’re struggling with rising debt, at some point you may have thought about filing for bankruptcy. Before you do, here are five key questions you should ask yourself.

Upon filing for bankruptcy, there are a number of duties that you must complete which include paying fees, participation in two debt counseling sessions and submission of monthly income and expense statements.

Anyone wishing to file for personal bankruptcy in Canada will have to go through six key steps prior to receiving their discharge from bankruptcy.

Ian Schofield and Pamela Meger, the Trustees who manage our Insolvency Services practice in Regina are very pleased to announce that MNP Ltd. has been chosen as the Consumer Choice award winner for the Regina area in the 2015 Bankruptcy Trustee category....

If you have severe debt problems, filing for bankruptcy may be an option. However, it is a decision that should not be taken lightly. Consider some of the following pros and cons of filing for bankruptcy:

The answer is no. A Government-Licensed Trustee will be there to help you through the process.

An exempt asset is defined under the laws of each province. Exempt assets are retained by the owner in the event of a bankruptcy and not accessible by that individual’s creditors.

Bankruptcies and consumer proposals are government legislated options that may assist you in addressing your debt problems. In either proceeding, the bankruptcy or consumer proposal is filed with the Office of the Superintendent of Bankruptcy (OSB) and...

Generally when you file for bankruptcy or make a proposal to your creditors, unsecured debts will be released. Section 178 of the Bankruptcy Act lists the only debts that survive a bankruptcy or Consumer Proposal.