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The people that I dealt with at MNP were awesome, understanding and extremely compassionate. I was so ashamed, scared and very nervous about this whole situation but was made to feel very comfortable and everything was explained to me. If it wasn't for MNP I honestly don't know where I would be today. Thank you so much for your knowledge, expertise and helping me get back on track and getting my confidence back.
MNP, is very informative, and helpful, easy to understand and gives very useful money saving idea's.
Tracy, I thank you and Laura greatly for all of your help during this time. I appreciate your courteousness and diligence, and will gladly recommend your firm to anyone seeking help with their financial difficulties.
I would surely be remiss if I failed to report to you my experience of MNP associates during the facilitation of my Bankruptcy, as of August 2021 complete. Rest assured I will recommend MNP to anyone in a similar situation to mine! All of the contacts of your company that I encountered in writing, by telephone or personally were to be commended. Of course, my personal experience of Sandra Wolverton has left the greatest impact on me! How clearly...
I was very down overwhelmed until I made the call to MNP...The worker I met was very friendly easy to talk to. She helped me get back on my feet. It's been just about a year now and I am working to get my credit back up. I am feeling so much better and enjoying my retirement thanks to your company... thanks again. I am nor sure I can use her name or not but I am going to....Jannick I would recommend to any one.
Once your Bankruptcy is filed, you will typically make monthly payments to the Licensed Insolvency Trustee (LIT), as agreed upon by you and the LIT. The LIT will distribute any funds received through the Bankruptcy to unsecured creditors at the end of the Bankruptcy as required under the Bankruptcy and Insolvency Act. Click here to learn more about how those payments may be determined.
Bankruptcy is designed to eliminate unsecured debt. If you have an unsecured debt and your creditor does not already have a lien (or claim) on any of your property then the creditor cannot repossess items once you file bankruptcy. Typical examples include credit card debt, bank loans, and medical bills. A secured debt, on the other hand, is a debt where an asset is held as collateral in order to reduce the lender's risk. The prime example is a mortgage....
Licensed Insolvency Trustees (LIT), like those at MNP Ltd., work with you one-on-one to understand your financial challenges, let you know your options, and help you find a solution. If you declare Bankruptcy or file a Consumer Proposal, the LIT will help you fill in all the required documents and file them with the federal government's Office of the Superintendent of Bankruptcy (OSB). The LIT will also inform your creditors about the Bankruptcy...
When you file for Bankruptcy, you will need to turn over all your credit cards to your Licensed Insolvency Trustee. You will be unable to obtain new credit cards until after your discharge from Bankruptcy. However, you may be able to obtain either a prepaid or a secured credit card for use during your Bankruptcy. Only a secured credit card will help you rebuild your credit rating.
The Bankruptcy and Insolvency Act requires that all Bankruptcies be filed by a Licensed Insolvency Trustee.
