2025-10-21
How we helped a client decide between a consumer proposal and bankruptcy
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2011-03-10
Hello, Bankruptcy extinguishes unsecured debts - i.e. debts for which an asset has not been pledged as collateral. There are certain unsecured debts that are not forgiven in bankruptcy such as debts arising out of fraud, child support and a few others which I have mentioned in a recent posting. General speaking, credit card debts are extinguished in bankruptcy. However, you should also keep in mind that there may be other options to resolve such a problem. Some that come to mind include improved budgeting, a consolidation loan that offers a lower interest rate than the credit cards, a consumer proposal, or orderly payment of debt (note this is not available in some provinces including Manitoba). You might consider contacting a Trustee for an assessment of your situation. Most trustees do not charge for this review of your financial difficulties and they will advise you options that are suited to your unique situation. Brad Milne, CIRP Trustee in Bankruptcy Brandon, Manitoba
2025-10-21
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2025-10-20
Alternatives to Bankruptcy Bankruptcy Consumer Proposal Lifestyle Debt MNP Consumer Debt Index
Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.
2025-10-17
This is called buyer’s remorse. In some cases, Canadian law provides protections that can help you reverse these costly decisions and avoid sinking further into debt.