MNP Debt Blog

There are several common scenarios which may cause you to wonder whether personal bankruptcy is an appropriate option to get out of debt.

Bankruptcy is one of the most anxiety producing words in the financial lexicon.

The primary purpose of the Bankruptcy and Insolvency Act (BIA) is to allow honest but unfortunate debtors relief from their debts and the chance to make a financial fresh start.

One of the worst parts of having debt problems is dealing with the multiple phone calls from creditors and collection agencies looking for payment.

Your credit cards are adding up. Add to that several other loans and lines of credit, and the complex juggling act of making your minimum payments can seem like a full-time job.

Relationship breakdown is one of the top contributors to financial hardship.

A client recently came to me distraught and on the verge of tears. She had tried to sell her house, but couldn't close the sale. There was a lien registered against her property which prevented the transaction from moving forward.

If you don't have a job when you file for bankruptcy, it doesn't really make any difference to how your bankruptcy is administered. What does impact a bankruptcy filing is income from any source.

First, congratulate yourself! You took the difficult first step of filing for bankruptcy and have earned yourself a fresh start.

Thinking about filing for bankruptcy can fill one with fear and uncertainty, it is natural for anyone considering this option to worry about what they will need to give up in order to be debt-free.