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...

Filing for Bankruptcy should not affect your job. Some professional bodies may require you to disclose your Bankruptcy. If you’re bonded in your current position, you may want to contact your human resources department to confirm if there will be any impact on your job/duties.

You can find all forms in our Forms section. Please keep in mind we do not require you to fill these out before your appointment. If you have any questions about any of the forms, feel free to contact us .

There are various duties required of you when you file Bankruptcy. If you do not complete your duties, the Licensed Insolvency Trustee is required to obtain a discharge from administering your Bankruptcy within a certain timeframe, leaving you in Bankruptcy. This will put you back into the same situation as before filing for Bankruptcy. All your unsecured creditors can once again pursue you directly to pay the full amount of their debt. You may...

The federal government provides guidelines to all Licensed Insolvency Trustees to help them determine if an individual or family has surplus income obligations. Your threshold for surplus income is calculated based on the number of dependents in your household and your net family income. Net family income refers to how much you earn after deducting income taxes, payroll deductions, essential medical expenses, alimony, child support, and childcare...