A Harvard University study indicates that 62% of all bankruptcies filed are personal bankruptcies.
Filing for a bankruptcy discharge anywhere in Canada – including Port Colborne, is a boon to people who find it impossible to repay their debts.
MNP Limited Port Colborne, ON Licensed Insolvency Trustee
However, there are specific requirements that must be fulfilled to be eligible for an automatic discharge.
A trusted organization like MNP Limited, Port Colborne, can help ensure you get a bankruptcy discharge.
How to get a bankruptcy discharge in Port Colborne, Ontario
The Canadian bankruptcy discharge timeline can take up to 9 months to complete for first-time bankruptcies, and up to 3 years for second-time bankruptcies to complete.
If you are applying for a first bankruptcy, you are eligible after nine months if:
- No opposition from the OSB office, your creditor, or your trustee is received;
- You have attended and completed the required financial counseling sessions.
- You do not have to pay surplus income into your estate – or you paid the surplus income payments necessary if you were required to do so.
For a layperson, all this might sound extremely confusing.
You are not alone.
Every person who files for bankruptcy in Canada goes through a phase of utter confusion and doubt.
But if you live in Port Colborne, Ontario, you are lucky because MNP Limited in Port Colborne for bankruptcy cases can help you.
How MNP Limited, Port Colborne, for bankruptcy can help
Our friendly and professional team at the MNP Limited, Port Colborne office can give you all the information you require on bankruptcy.
If you are concerned if bankruptcy is your only option, they will help you make the right decision.
We can even customize a solution cut down your debts drastically. Give us a call today and let us help you get out of debt as soon as possible.
Port Colborne Ontario L3K 4C8