MNP Limited Saint-Hyacinthe, QC Licensed Insolvency Trustee

MNP Limited, 450-390-0766
2685 Casavant Blvd. W. Suite 225, Saint-Hyacinthe, QC, J2S 8B8

 

In Saint-Hyacinthe, a city on the Yamaska river situated southwest to Quebec and east of Montreal, personal bankruptcy is a consumer right.

It is the course of action suggested when no other option of clearing debt is available.

Via filing for bankruptcy, one can protect their financial status from getting any worse and begin life freshly again.

Once the process of declaration of bankruptcy is completed, all the debts (except the ones which are non-dischargeable) under a person or company name will be completely erased.

To understand which are the debts which can be declared null and void under a bankruptcy claim, and if bankruptcy is the only option available, it is necessary to contact a professional who has the knowledge and understanding regarding the same.

 

MNP Limited Saint-Hyacinthe, QC Licensed Insolvency Trustee

2685 Casavant Blvd. W.
Suite 225,
Saint-Hyacinthe, QC J2S 8B8
Canada
Phone: 450-390-0766

Is bankruptcy the only option?

Having overdue bills does not require to file for bankruptcy.

Even when budgeting and cutting back on expenses does not seem to be working out, there still are other options present for you to become debt-free.

Consumer proposal – A Saint-Hyacinthe, QC Licensed Insolvency Trustee will help you come up with a formal agreement to pay back the creditors a percentage of what you owe over a set period of time.

Orderly payment of debts – only available in Alberta and Quebec, here you have the option of combining all the creditor’s payments into a single payment.

Debt consolidation – all debts can be combined into a single loan with fixed interest on which monthly payments could be made.

Credit counselling – there is involvement of a third-party organization here and negotiation regarding more flexibility and a realistic repayment plan is done on your behalf by a credit counsellor.

Informal debt settlement – this involves working personally with the creditors for a flexible, realistic repayment plan without the help of a third party getting involved.

If you want to opt for either of these options or do not know how to go about your situation, the most ideal person the contact under these circumstances is the Licensed Insolvency Trustee (LIT).

What are the benefits of filing for Bankruptcy in Saint-Hyacinthe?

If all of the above options have failed and the burden of your debts is weighing you down, you can always file for Bankruptcy via a legal process – regulated by the Bankruptcy and Insolvency Act – which will result in the reduction, if not complete dissolution, of all your debts.

Filing for bankruptcy will give you a chance to live a normal and debt-free life.

Once you file for bankruptcy, you do not need to be stressed about the creditors filing a legal case against you or trying to claim your assets.

Your assets will be protected and you won’t have to communicate with the creditor’s as all communication will be handled by your trustee.

You will also be able to rebuild your credit rating once all your debt is settled.

Who is a Licensed Insolvency Trustee?

As the only authorized professionals who can administer government-related insolvency proceedings, Licensed Insolvency Trustees will provide financial advice and services for you to be discharged of all debt.

Since the LIT need to demonstrate their skills, and knowledge before being granted a license from the Office of the Superintendent of Bankruptcy (OSB), you can trust them completely with your debt issues and can expect them to only deliver phenomenal results for you to be stress-free and debt-free.

Once you approach a trustee with your financial problems, they will provide you the best-suited option for you and will directly deal with the creditor’s on your behalf.