MNP Debt Blog

IF I owe a friend or family member can I pay him/her back with any available funds before I file for bankruptcy.

Generally when you file for bankruptcy or make a proposal to your creditors, unsecured debts will be released. Section 178 of the Bankruptcy Act lists the only debts that survive a bankruptcy or Consumer Proposal.

i recieve an annuity from my pension if i claim bankrupcy will i lose anypart of my pension

If I file for bankruptcy, who will know? Will my employer find out?

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.

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

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.

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

The answer is no. A Government-Licensed Trustee will be there to help you through the process.

Bankruptcy is a process that releases you from most of your indebtedness by handing over some of your property. In other words, bankruptcy lets you erase your debts and put an end to your indebtedness within a few months.