""

Bankruptcy FAQ

You have questions? We have answers.

Debt can be overwhelming and confusing, but it doesn't need to be. Our Licensed Insolvency Trustees have answered the Frequently Asked Questions we've been asked about Bankruptcy.

Licensed Insolvency Trustee holding up a piece of paper and advising a person on bankruptcy options.

Consumer Proposal vs Bankruptcy

Consumer Proposals and Bankruptcies are both government legislated options which can provide you with relief from significant debt problems. In addition, both debt solutions can only be administered by a Licensed Insolvency Trustee and provide a legal stay of proceedings which require creditors to discontinue harassing collection calls, garnishment or other legal proceedings.

Determining which, if either, option is an appropriate solution in your own unique situation depends on a number of variables. Let’s explore the advantages and disadvantages of both a Consumer Proposal and a Bankruptcy.

Compare Your Options

Latest Blog Posts

2022-04-18

MNP Consumer Debt Index hits record low amid growing concern about debt and rising interest rates among Canadians

Grant Bazian

MNP Consumer Debt Index

The enduring financial impacts of COVID-19 coupled with the pressures of rising interest rates and a higher cost of living are weighing down Canadians’ confidence in their personal finances, according to the MNP Consumer Debt Index which is conducted quarterly by Ipsos on behalf of MNP LTD.

Read More