2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
Life After a Consumer Proposal
Generally speaking, the length of your proposal is under your control and can last anywhere from a few months to five years. Once you’ve made your final proposal payment, you will be relieved of the remainder of your unsecured debts that existed at the time you started the proposal (there are a few exceptions to this, which your Licensed Insolvency Trustee will discuss with you if applicable).
Your credit report will show that you filed a Consumer Proposal for three years after the completion of the proposal. During and after your proposal, it’s important to show lenders good financial behaviours — like paying off your ongoing debts quickly, not bouncing cheques and getting and using a secured credit card — to help rebuild your credit rating. A Consumer Proposal will be removed from your credit report 3 years after you've paid off all the dents according to the proposal, or 6 years from the date it was filed, whichever comes first. Taking control of your financial standing and building a stronger future is what Life-Changing Debt Solutions is all about.
Latest Blog Posts
2025-09-02
How to budget when you’re living paycheque to paycheque
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
MNP’s Atlantic Canadian guide to affordable fun
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.
