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.
2009-12-09
Part of the technical definition to file for bankruptcy is that you owe a minimum of $1,000 in unsecured debts and are unable to pay them as they come due. Based on this definition.....you would qualify to file for bankruptcy. Whether or not this is the right option for you is something else that we should look at. There are several options available to a consumer. I know that your $2,500 debt might as well be $25,000 right now.....but given that it is relatively low, we should review these other options. They may range from just needing some advice in talking to your creditors, reducing interest rates, changes we could see in your budget, the orderly payment of debt program or perhaps a proposal. Bankruptcy may ultimately be the right option for you, but we should explore these other ones first. Would you be able to call one of our counsellors in your area to review the specifics of who your creditors are, and what your budget looks like? You can find our counsellors on our website at http://www.mnpdebt.ca/contact/default.aspx. Regards, Donna Carson, CGA, CIRP, Trustee Calgary and Red Deer, Alberta 1.877.500.0792 [email protected]
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
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
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.