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How to be a responsible credit card user
Credit cards are a popular and convenient form of credit that can be a very useful tool.
Bankruptcy Alternatives
You’ve got overdue bills and expenses, but you want to avoid filing for bankruptcy. You’ve tried budgeting or cutting back, but nothing’s quite working to get you out of the cycle of debt. If this sounds familiar, there are other options to help you take control of your finances and become debt-free. At MNP, we will look at all of your options with you to discover which solution will work best for your individual situation. Choose one of the alternative bankruptcy options below to learn more.
Consumer Proposal
We understand why you’re worried. You have debt, but you may also have assets you wish to keep and the idea of filing for bankruptcy is terrifying. You’re thinking about long-term financial impacts and wondering how to avoid them. If this sounds like you, a Consumer Proposal may be just the Life-Changing Debt Solution you’re looking for.
Consumer Proposal arrow_forwardOrderly Payment of Debts
You’ll file an application for a Consolidation Order to combine your payments to unsecured creditors into one single payment that's distributed through the courts. This option is only available in Alberta and Quebec.
Orderly Payment of Debts arrow_forwardDebt Consolidation
You'll combine all debts into one loan with a fixed interest rate and make a single monthly payment to your financial institution.
Debt Consolidation arrow_forwardCredit Counselling
You'll team up with a third party organization to explore your current debt situation and have a credit counsellor negotiate with creditors on your behalf for a more flexible, realistic repayment plan.
Credit Counselling arrow_forwardInformal Debt Settlement
You'll work directly with each creditor on creating a more flexible, realistic repayment plan.
Informal Debt Settlement arrow_forwardOther Debt Relief Options
There are a number of other short-term debt solutions, however there are some key considerations you must take into account before pursuing them. If you find you are relying on any of these solutions and aren’t able to completely eliminate your debt, it may be time to investigate one of our Life-Changing Debt Solutions.
Other Debt Relief Options arrow_forwardLatest Blog Posts
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Understanding debt collection in Canada: Protecting your financial health
Debt collection can be a daunting experience for many Canadians. Navigating the process alongside MNP’s team of experts can help you better understand how it will impact your credit score and gain the knowledge needed to maintain your financial health well into the future.
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Top five mistakes to avoid when considering filing for bankruptcy
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
