MNP Debt Blog

A Consumer Proposal is a legal arrangement between you and your creditors, which is a great way to settle your debts when you are unable to repay them on your own.

Owing money to a family member or friend can spark anxiety. You may believe you don’t have to include these types of debts in a Bankruptcy or Consumer Proposal.

If you are an individual who has filed a bankruptcy under the BIA and you have not been discharged from bankruptcy, you may opt to make a Consumer Proposal to your creditors.

Sometimes life doesn’t turn out the way we expected and we find ourselves overwhelmed with debt.

Part of deciding whether a Bankruptcy or Consumer Proposal is right for you is knowing what kinds of debts can be included and will be discharged when the process is successfully completed.

For people with minor or even moderate debt, the combination of a structured financial plan and a few temporary sacrifices can go a long way toward eliminating their burden.

This article will look at how often you can declare Bankruptcy, how it will affect your financial situation, and what other options you may have to address your unmanageable debt.

In this installment, we’ll discuss why you should close your account because the bank is aware of your filing, and they continue to take payments from your account.

Financial scams have been around for decades. But they have never been as common, insidious and invasive as they are today.

This is the fifth in a five-part blog series about what Consumer Proposals are, how the process works, and whether they might be the right solution for you to get permanent relief from your unsecured debt.