MNP Orillia Bankruptcy
When is filing for Orillia Bankruptcy the best choice for debt relief?
Filing for personal bankruptcy is a difficult decision.
What makes it even more difficult is that you’re facing threats from creditors who may pursue legal action, wage garnishment, and even harassing phone calls from third-party debt collectors.
This can increase your stress level, making it even harder for you to resolve your debt problems.
The good news is, you’ve got debt relief solutions at your disposal!
MNP Limited Orillia, ON Licensed Insolvency Trustee
At MNP Orillia Bankruptcy, we are Licensed Insolvency Trustees or LITs.
We pursue bankruptcy only when we’ve considered other debt-relief options.
Bankruptcy is suitable when you don’t have sufficient equity in your home or you don’t have enough assets to pay your monthly bills or make debt payments.
Your situation may worsen to the point where your creditors start to bring legal actions against you.
In situations such as this, filing for personal bankruptcy may be the best option to give you a new start.
How can MNP Orillia Bankruptcy help you file for bankruptcy?
In your consultation meeting with us, our Licensed Insolvency Trustee will carefully evaluate your financial situation to see whether personal bankruptcy is the ideal debt relief solution.
If it is, we will explain the entire procedure, including all the steps involved.
It is a lengthy process governed by complex bankruptcy laws. We will submit all the necessary documents and paperwork to your creditors and the courts.
You will be kept in the loop during the entire process.
What are some points you need to know about bankruptcy?
1. To be eligible to file for personal bankruptcy, your debt must be at least $1,000. You’re unable to pay the monthly installments and your debts are greater than your assets.
2. Rest assured, you won’t lose everything. Some of your assets are under protection according to federal bankruptcy and insolvency laws.
3. Wage garnishment, harassing phone calls, and legal action will come to a stop after you file for bankruptcy.
4. The process can take up to nine months. After you receive a ‘discharge’ confirmation, you can begin to rebuild your financial future.
5. There are other debt relief solutions that our LIT will explore before considering bankruptcy.
Please call us to speak to our Licensed Insolvency Trustee at MNP Orillia Bankruptcy.
Orillia ON L3V 1W5