What Is MNP Tillsonburg Bankruptcy?
This is a type of debt relief available to individuals who have an outstanding debt that is more than the total equity of all their assets.
By pursuing personal bankruptcy, you’re declaring to your creditors and the courts that you are insolvent; unable to pay your debts when they’re due because of insufficient equity to deal with those debts.
MNP Limited Tillsonburg, ON Licensed Insolvency Trustee
This may result in:
– Settlement of certain assets (except for those exempt)
– Payment to creditors
– Release from legal obligation to pay back creditors
– Entitlement to keep the property.
Certain debts cannot be removed via bankruptcy claims such as alimony, child support payments, court-imposed fines, fraudulent debts, and some types of student loans.
MNP Ltd. is a Licensed Insolvency Trustee that provides valuable bankruptcy assistance to help you achieve debt relief.
What You Need To Know About The MNP Tillsonburg Bankruptcy Process?
Personal bankruptcy is a complex process. It is a legal action administered by the Bankruptcy and Insolvency Act and Ontario Execution Act.
When you file for personal bankruptcy, it should be done after a thorough discussion with a Licensed Insolvency Trustee.
By law, all personal bankruptcies in Ontario must be filed by a Licensed Insolvency Trustee.
MNP Tillsonburg Bankruptcy Services
At MNP Ltd., a majority of people who file for bankruptcy never imagined that they would face such dire financial circumstances.
Most of our clients are honest and hard-working individuals, who for unforeseeable reasons are unable to cover their debts.
Many of them also lack assets to pay back their overdue unsecured debts.
Before we pursue bankruptcy, we will work with you to explore other debt payment options first.
If we feel that filing for bankruptcy is in your best interest, then we may pursue this process.
When you work with MNP Tillsonburg Bankruptcy services, you can expect us to:
– Help you complete all necessary forms
– Submit required documents to the Office of the Superintendent of Bankruptcy or OSB
– Complete any requests sent by the OSB
– Serve an intermediary between your unsecured creditors and you
– Notify your creditors about your bankruptcy status
– File and send Trustee’s Report to all creditors with reference to your discharge application
– Ensure you receive legal confirmation that your debts are covered, i.e. Discharge
– Provide guidance through two compulsory credit counseling sessions.
MNP Tillsonburg Bankruptcy can help you take back control of your finances so that you can move forward with your life. Call us today!
Tillsonburg ON N4G 1Z9