Manitoba Bankruptcy Information; Manitoba Bankruptcy Trustees: Winnipeg Northern Manitoba, Carmen, Morden, Portage La Prairie, Selkirk, Steinbach and Winkler, MB.NEWS FLASH - July 7, 2008 The Wage Earner Protection Program Act , Student Loans changes and RRSP exemptions have gone into force today, Monday, July 7, 2008.More...
Our website's purpose is to provide Manitoba bankruptcy information and other options that will help people in Winnipeg and other areas of Manitoba get a fresh financial start, and to provide resources to assist in building a secure financial future! We are available to assist you in identifying your options and forming a plan to get you a fresh financial start. In many cases there are options other than bankruptcy, including proposals, credit counselling, third party settlements with creditors, and refinancing. Our people are knowledgeable, helpful and friendly. We'll start by scheduling a meeting with you to discuss the solutions best suited to your situation. This meeting is free, and it's confidential. We'll help you make the right
decision so you can regain control of your life.
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The cost of a MB bankruptcy is set by the Government. PricewaterhouseCoopers has payment terms available. |
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:
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Furniture, household furnishings and appliances not exceeding total value of $4,500;
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One motor vehicle, if necessary for work or transportation to and from work, not exceeding $3,000 in value;
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Actual residence of the bankrupt, equity of $1,500 each if in joint tenancy, or $2,500 if not in joint tenancy;
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Tools, implements, professional books and other necessaries not exceeding a total value of $7,500 used in practice of trade, occupation or profession;
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Necessary and ordinary clothing of the debtor and family;
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Health aids, including wheelchair, air conditioner, elevator, hearing aid, eye glasses, prosthetic or orthopaedic equipment, necessary to debtor or family;
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Locked-in pension plans;
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Certain life insurance policies;
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Food and fuel necessary to family for period of six months or cash equivalent.
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If debtor is a farmer:
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animals necessary for farming operation for 12 months;
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farm machinery, dairy utensils and farm equipment necessary for ensuing 12 months;
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one motor vehicle if required for purposes of agricultural operations.
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Any 160 acres of farm land upon which the debtor or his family resides, or which he cultivates or uses for grazing or other purposes, as well as all the buildings thereon;
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Seed sufficient to seed all land of debtor under cultivation;
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Filing a Manitoba bankruptcy or a Manitoba proposal will stop actions by creditors such as:
- Collection Calls;
- CRA, income tax collections;
- Garnishee of your pay;
- Creditors seizing your assets.
Please note that this is general information and does not replace the specific details that need to be discussed in a meeting with one of our Manitoba bankruptcy trustees. Some other issues may include being judgement proof, co-signers, the effect on your spouse, separation between spouses, surplus income guidelines, stay of proceedings and how it works in your situation, and income tax consequences.
Most of the people who file a Manitoba bankruptcy or a Manitoba proposal are good, honest, hard-working people who file as a last resort after months or years struggling to pay the bills left over from some catastrophic event or set of circumstances. It can be because of a divorce, the loss of a job, a failed business venture, a serious illness, or some family emergency, or because the person honestly and mistakenly fell into debt at a young age before they knew better, and before they knew anything about budgeting or how to manage money.
Manitoba's bankruptcy laws are designed to permit an honest but unfortunate debtor to obtain a discharge from his or her debts while treating creditors equally and fairly.
Last year, 100,000 individuals in Canada filed for personal bankruptcy or filed a bankruptcy proposal.
Ask a bankruptcy trustee
(It's confidential).
Personal Bankruptcy;
PowerPoint Presentation.
Proposals;
PowerPoint Presentation.
Will I get a better credit rating if I use a Credit Counsellor?
Manitoba Bankruptcy Exemptions;
Avoiding bankruptcy.
Debt that is erased in a bankruptcy or a proposal;
Credit Counsellors & Trustees;
Get the facts!
After Bankruptcy:
Rebuilding and getting credit after bankruptcy or a proposal;
- Winnipeg (3)
Lombard Place
Main Street and
Marion Street
Other Manitoba Areas we Service:
Information Form
Take this to your meeting with the trustee.
Monthly Income & Expenses - .xls
Monthly Income & Expenses - .pdf
Other links:
Kauhale Makai, Maui vacation rentals.