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Resources > MNP Debt Blog

MNP Debt Blog

The blog is a way for you to reach out to MNP Trustees in your area and ask an anonymous question about debt, bankruptcy or any financial issues you want to know more about. You will also find articles on debt management, bankruptcy issues and how changes to the Act might affect you.​​

A Household Debt Worth Paying Attention To

You know the phrase 'things just aren't the way they used to be'? That's never been more true than today. Just a few decades ago, having a good education, settling into a fruitful career, buying a house, raising a family and looking forward to an enjoyable, relaxing retirement were all completely realistic dreams and expectations. Today? Well, today's a little different.  Read more >

Insolvency Rate Linked to Plunging Oil Prices

As unemployment continues to increase across the prairies due to a sharp decline in the price of oil, many have found themselves relying on credit to pay for day-to-day expenses as severance pay begins to dwindle and unemployment insurance runs its course. While credit can be a viable solution for handling short-term financial obligations, it can quickly become a costly expense. If you are unable to pay off your credit from one month to the next, it's all to easy to end up in an endless cycle of debt payments to the point where it becomes unmanageable. Read more >

Five Good Reasons to Pay Off Your Debt ASAP

With a continually increasing cost of living, it’s not always easy to convince yourself to part with the few extra dollars you do have on hand, in order to pay off looming debt. In the long run however, reducing (or even eliminating) your debt load – will put you on track for a far brighter future where financial freedom and long-term goals are much more attainable. Read more >

Summer: Vacation, not Debtcation

The weather is warmer, people are coming out of hibernation from the long winter and soon our children will be done with school. Once the summer months get into full gear, people naturally turn their attention to getting away to recharge, relax and (deservedly) unwind. Sounds pretty great right? Just remember, a vacation comes at a cost and if you’re not prepared, that cost could stick with you for months, if not years. Suddenly and unintentionally, your post vacation becomes about debt and stress. Read more >

Unemployment and Insolvency Often Go Hand in Hand

The insolvency statistics for March have just been released and they are consistent with the trends for the previous few months. Generally filings are flat across the country except for those provinces affected by the decline in oil prices. Total filings in Canada for the 12 months ended March 31, 2016, were up only 2.8% and were basically flat in Ontario, Quebec and British Columbia. Read more >

Schools Look to Lessen Student Stress Over Debtloads

As the price of post-secondary education continues to rise, along with cost of living, many students find themselves struggling financially both during the course of their studies and upon entering a very competitive job market upon graduation.  Read more >

Saskatchewan had the highest loan delinquency rate in the country at 3.04 per cent in the first quarter

As of May 20, 2016, Saskatchewan had the highest delinquency rate in the country. Given how significantly Saskatchewan and Alberta have been hit by the oil slump, this doesn’t necessarily come as a surprise to financial strategists and advisors throughout the country. Read more >

9 Ways to Improve Your Business Credit Score

In today's business environment, many Canadian businesses are having to work twice as hard to keep up with a competitive landscape in a weakened economy. If you really want to stay ahead of the curve and leave the doors open for as much opportunity as possible, it's crucial to be fully informed of your credit score and what you can do to further improve it.  Read more >

Struggling to Decide Between a Consumer Proposal and Bankruptcy?

Living in financial uncertainty, with harassing phone calls from creditors, while trying to maneuver through unmanageable debt, can be completely overwhelming. The good news is, you have options, though it can be difficult to fully understand which route best suits your personal financial needs. Read more >

What should I do when my employer files for bankruptcy?

It’s 8:00 am on Monday morning and you arrive at work ready to start the week, only to find that all staff have been summoned immediately to an emergency meeting in the staff room. Amid whispers of what could possibly be going on, you head into the meeting where you are advised by a Licensed Insolvency Trustee (the “Trustee”) that the company you work for has been placed into bankruptcy and the job you love has been terminated, effective immediately.  Read more >
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