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Manitoba Bankruptcy Information.Questions? Click to Text. (M-F 11-7.)
Welcome to our website! We help people get a fresh start. We have written this website information in plain straightforward English. If you have any questions, ask them here, and we'll get back to you within one business day. - Earl Sands, Licensed Insolvency Trustee.
As soon as you locate a local Licensed Insolvency Trustee you can contact the trustee by phone to set up a FREE no risk consultation by phone or you can schedule an evaluation at the trustee office.
We have Manitoba Licensed Insolvency Trustees serving the following areas:
Got Money Problems? Need Assistance?
Our Manitoba Licensed Insolvency Trustees Can Help With Your Money Problems!For a FREE, NO OBLIGATION CONSULTATION telephone one of our local trustees in bankruptcy.
How Bankruptcy Works.
Our website was written with the purpose of providing Manitoba bankruptcy and proposal information to those individuals who are overwhelmed with debt and who are considering going insolvent as a way of handling their debt.
The bankruptcy laws in Manitoba were written to give a person who is struggling with debt a chance for a fresh start to a new financial life. We have a team of local trustees who are friendly, helpful and are very well trained and skilled professionals. The trustee can point out to you how you can avoid bankruptcy by refinancing, consolidating your debt, making a settlement with your creditors through a third party, and / or managing your finances better.
When you are ready to learn about your debt relief options you can find a list of trustees in many cities across Manitoba that are able to provide a no cost, risk free initial consultation to discuss your finances and the options available to you for handling your debt based on your finances, assets and income.
The cost of a bankruptcy.
Trustee's fees are regulated by the government so it will cost the same no matter which trustee a person uses. The cost will vary depending on the income and family situation.
Most people pay the minimum cost which is $1,800.00, and can be paid at the rate of $200 a month for nine months.
This Bankruptcy Calculator will calculate the required payments for you and tell you how long you will be in bankruptcy.
Ontario bankruptcy exemptions are found at this link.
If a Manitoba bankruptcy or a Manitoba proposal is your best option for getting a fresh financial start you are allowed to keep the following assets:
- 1 motor vehicle worth $3,000 (needed for work or transportation to work);
- $4,500 in Household furnishings, Appliances and Furniture;
- $7,500 in Tools of the trade (professional books, tools and other implements used for occupation);
- Residence of the bankrupt to $2,500 (or $1,500 for each resident in joint tenancy);
- Clothing for the debtor and their family that is ordinary and necessary;
- Health aids, including wheelchair, air conditioner, elevator, hearing aid, eye glasses, prosthetic or orthopaedic equipment, necessary to debtor or family;
- RRSPs, Registered Retirement Income Funds (RRIFs) and Deferred Profit Sharing Plans (DPSPs).
- Locked-in pension plans;
- Food and fuel necessary to family for period of six months or cash equivalent.
We are proud to partner with Toronto Licensed Insolvency Trustees for debt relief services in our neighbouring province and with Licensed Insolvency Trustees in: