Facing financial hardship can feel overwhelming, but understanding your options is the first step toward relief. Len Lane speaks with Sandra Landry, Senior Vice President and Licensed Insolvency Trustee at MNP, to discuss how Canadians are dealing with increasing debt following the pandemic. Sandra explains the significant rise in bankruptcy and consumer proposal filings since 2022, emphasizing how interest rate increases and higher living costs have strained the finances of many. They discuss the distinctions between bankruptcy and consumer proposals, providing practical advice on how individuals can manage debt and avoid common pitfalls.Sandra discusses her work in insolvency, stressing the significance of assisting individuals in comprehending various options, such as credit counselling. She explains how trustees like herself can help people find the most suitable financial solutions for their specific circumstances. This episode delves into the intricacies of bankruptcy laws and the impact of debt on credit scores and outlines the process of rebuilding credit after bankruptcy with effective planning. About Sandra LandrySandra is a motivated individual who strives to learn something new every day. She enjoys learning about various businesses and individuals in her community and working out ways to help them.There are significant options open to both individuals and businesses which include credit counselling, orderly payment of debt, proposals and bankruptcy. It's important that everyone understands what those options include and it's her role as Trustee to ensure that people are able to make the right choice for themselves and their own situation.--Contact Len Lane | Brokers for Life: BrokersForLife.caLinkedin: Len LaneLinkedIn: Brokers for LifeFacebook: Brokers for LifeX: @Brokers4LifeContact Sandra Landry: Website: MNP.caPhone: 780-969-1488Email: [email protected]: SandraLandry

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