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.
2014-07-02
Planning for retirement is more than dreaming of the day when you get to sleep in on Monday morning and not having to commute to work. The idea is to plan for a successful retirement. This means having the financial security to enjoy your new found free time by spoiling the grandchildren, vacations to tropical locations or gardening.
What a lot of people don’t anticipate when they retire is just how much things will change financially. Here are some questions to ask yourself when you plan for life after work:
What we see in our business is an increase in people in their senior years with a debt load too great to manage. If all you can manage is the minimum monthly payments, then you are likely paying only interest and the debt will never go away. Some think the answer to consolidate their debt into a new loan. This ends up being debt being paid by debt.
A licensed trustee in bankruptcy isn’t only about filing a bankruptcy. We are looking at various solutions to fit your situation that may not even require our services. The common solution we see is a Consumer Proposal . This option allows someone to take their debt and legally reduce it down to one monthly payment that is based upon their budget not upon how much debt they have. Any unpaid debt is then eliminated once the proposal is complete. If you are worried about your plan to retire including too much debt, contact a licensed trustee for a free consultation or see our website at www.mnpdebt.ca.
This article was published in the Saturday, June 28, 2014 edition of The Hamilton Spectator.
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.