Going bankrupt means surrendering all your proprietary assets except those that are exempt under Federal, and territorial or provincial, laws, to your unsecured creditors, and become debt-free in the process.
Filing for bankruptcy can be a hard decision to make, and it may not the best solution for every debt situation.
It is therefore important to cover all aspects of your debt situation to assess if bankruptcy is the best choice for you.
The best step forward when you are facing an overwhelming debt situation is to contact a Licensed Insolvency Trustee (LIT).
MNP Limited Souris, MB Licensed Insolvency Trustee
A LIT has the sole authority to administer a bankruptcy process in Canada. A LIT can also help you explore available debt-relief solutions before filing for bankruptcy.
Let the Most Trusted MNP Bankruptcy Firm in Souris Help You
Our MNP Souris bankruptcy company offers debt-relief solutions for businesses and individuals.
Our debt-help professionals are qualified LITs with years of experience in imparting debt-relief solutions including consumer proposals and bankruptcy.
The friendly LITs from our Souris office will be there with you, assisting and guiding you through the bankruptcy process if you choose to do so after exploring all options.
Make a Well-Informed Decision and Become Debt-Free
The best strategy in a debt situation is to make an accurate well-timed decision, which is what professionals at MNP bankruptcy firm in Souris are best qualified to do.
- Our LITs will make the entire bankruptcy process simpler for you so that you understand the benefits and risks as a bankrupt debtor.
- We will explain the bankruptcy law in plain terms so that you know the assets you get to surrender and those you get to retain as part of the process.
- The bankruptcy process in Canada is governed by the Bankruptcy and Insolvency Act. The laws of Prince Edward Island province are also applicable.
- Our LITs will serve as genuine mediators between your creditors and you ensuring that bankruptcy provisions are implemented in a manner that is fair to both of you.
- We hold the money derived from the sale of your assets in a trust to ensure fair and timely payments to your creditors.
- As qualified trustees, we are governed by Canada’s Code of Ethics for Trustees law.
- Our LITs will ensure that you are discharged of bankruptcy at the appropriate time as set by the Canadian law. For example, if the present bankruptcy is your first one, then the timing of discharge is 9 months after filing for bankruptcy.
Get Out of your Debt Situation with Minimal Consequences
How soon you become debt-free depends on the expertise of the trustee you partner with.
This is where we can make a difference.
Our MNP Souris bankruptcy firm can empower you with a proactive team that is up-to-date with local provincial bankruptcy laws.
We are easily reachable as we are conveniently located in the heart of Souris town. Partner with us to make debt relief an easy and efficient solution for you.
Souris MB R0K 2C0