If you’re looking to break free of personal debt once and for all, we can help. We provide debt and bankruptcy solutions that are life-changing and permanent, so you can erase debt from your life.
Debt can be overwhelming. For that reason, our Licensed Insolvency Trustees are always here for you. let’s discuss the options available to you. Your debt-free future starts now.
September 30, 2016 - Even with their debt concerns growing, Canadians appear to be reluctant to get help. A
survey from MNP Debt revealed that only 14 per cent of Canadians who admit to being unable to pay their bills have sought professional help to deal with their debt. Thirty-five per cent say they haven’t done so because they believe they can figure out their debt situation on their own. Over 20 per cent cite embarrassment as the reason for not getting help. Another one in three (33 per cent) have avoided seeking professional help because they don’t think their debt situation is bad enough yet.
“The bottom line is that if you are using credit to subsidize your income, then you need help. Get professional financial advice from someone who can help you create a plan to start living within your means and then start paying down debt,” says Donna Carson, a Licensed Insolvency Trustee with MNP Debt. “If you are receiving calls from creditors, then your situation critical. You need help immediately before you run out of options.”
According to the survey, over 1.1 million Canadians feel that bankruptcy is inevitable for them based on their current inability to pay their bills. Statistics released Friday by the Office of the Superintendent of Bankruptcy indicate that the total number of insolvencies (bankruptcies and proposals) in Canada decreased by 8.1 percent from July 2015 to July 2016. Meanwhile in Alberta, the total number soared almost 25 per cent compared to the previous year.
“The biggest mistake people make is allowing their debt problems to snowball. By the time they are forced to get help their homes are at risk, their accounts have gone to collections and their wages are being garnished. The earlier people seek help, the more options they will have for dealing with their debt,” said Carson.
Licensed Insolvency Trustees are the only debt professionals that can guarantee legal protection from creditors through proposals and bankruptcies. MNP Debt offers free consultations to help clients understand their options including consumer proposals, orderly payment of debts, debt consolidation, credit counselling or an informal debt settlement.
Reasons Canadians struggling with their bills are not seeking professional debt help:
About the Survey
The survey was conducted by Ipsos on behalf of MNP Debt between September 6 and September 12, 2016. For this survey, a sample of 1,502 Canadians from Ipsos' online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/ - 2.9 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population.
Donna Carson is a Licensed Insolvency Trustee within our Calgary location. To learn more about how MNP Debt can help you, contact any of our local offices at:
Calgary (Downtown) 1500, 640 - 5th Avenue SW, Calgary, AB, T2P 3G4 T: 403.538.3187 F: 403.537.8437
Calgary (North) 2323 - 32 Avenue NE, Unit 212, Calgary, AB, T2E 6Z3 T: 403.538.3187 F: 403.537.8437
Our team of Licensed Insolvency Trustees will help you
explore the debt relief options available to you and
together we will find the solution that best fits your
situation. Set up your FREE, no obligation consultation
MNP is committed to protecting your
privacy. We promise to keep all of the information you share
with us confidential.
*310-DEBT doesn’t operate in MB, NW ON and QC.
Contact a Trustee
Find a local Office