2009-10-23
Thank you for your enquiry. You express a difficult predicament due to family obligations. Unfortunately, if bankruptcy (or a proposal) is your only option, then there is a legal requirement to disclose and notify all your creditors. These debts will then be wiped clean upon your discharge. While difficult, you may want to consider discussing this predicament with your in-laws to gain their understanding. A bankruptcy (or a proposal) may be your only option to start with a clean slate and begin saving for a better future. You may wish to discuss the situation with a trustee first, as there some other considerations that could be taken into account. For example, if there is a dividend distribution to your creditors, your in-laws will be able to participate as creditors. Please do not hesitate to contact one of our Trustees at an office nearest to you to review your financial affairs and to discuss your options. Kelvin Tan Meyers Norris Penny Limited - British Columbia Tel: 604-637-1546 Email: [email protected]
2025-11-17
November 16-22, 2025 is National Addictions Awareness Week (NAAW) in Canada. Every year, organizations across the country observe this important week and do what they can to help those who may be struggling with addictions, while raising awareness and sharing information as to how family and friends can create support networks.
2025-11-13
Debt Solutions
Many may feel ashamed, embarrassed and completely overwhelmed about their debt. People experiencing debt-related stress often suffer from many associated health issues, such as sleepless nights, headaches, tension and more. And feeling out of control when it comes to managing their debt payments often prevents people from taking control of their financial situation. Not all debt results from overspending, living beyond one’s means, frivolous behavior or money mismanagement. To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt VLOG series below with MNP's Licensed Insolvency Trustees.
2025-11-12
Bankruptcy Consumer Proposal
Summer fun doesn’t have to come with a hefty price tag.
