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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.​​

Don’t Get ‘Tricked’ By Debt

In honour of Halloween this week, MNP Ltd. presents the following somewhat scary facts about Canadian debt.  Read more >

Can I file for Chapter 11 Bankruptcy?

Chapter 11 is a Chapter of the U.S. Bankruptcy Code that generally provides for the reorganization of corporations, partnerships or proprietorships. Read more >

Defining Your Relationship With Money

Getting into debt can happen to anyone, causing mental stress and uncertainty. To learn how to better manage your money, you must also have an understanding of your relationship with money. Read more >

Should I cash in my RRSPs to pay down my debt?

While it can be tempting to solve a short-term cash problem with long-term savings, cashing in your RRSPs to pay down debt should be a last resort.  Read more >

What Happens When Your Business Declares Bankruptcy?

If you are an entrepreneur, you understand there are countless factors that can impact on the success of a business. If you have experienced the stress and pain of a failed business venture then you’ve learned that the nightmare doesn’t end the day you close the doors.  Read more >

How will Bankruptcy Affect my Retirement Income and Investments?

If you are retired and have a large debt load, you may be considering filing for bankruptcy. You may also be wondering, however, what will happen to your retirement income and investments if you declare bankruptcy. Read more >

How to Handle Collection Agencies & Collectors

Consumers have often expressed their concerns to me about harassing calls from debt collectors and how to deal with collection agents. Some even complain that even though they have made an assignment in bankruptcy (i.e. filed for bankruptcy) or made a Consumer Proposal, some credit collection agents continue to call.  Read more >

The Top 7 Questions on Consumer Proposals

A Consumer Proposal is a formal, legally binding process to deal with debt. Although it is not a bankruptcy, it falls under the Bankruptcy and Insolvency Act.  Read more >

What is a Debt Management or Debt Settlement Service?

There are a number of companies that advertise ‘Debt Management Services’. In essence, these companies are suggesting they can negotiate a settlement with your various unsecured creditors on your behalf without going through a formal Consumer Proposal process.  Read more >

How To Resolve Your Debt Before Heading Into Retirement

While no one really wants to borrow more than they can afford, life doesn't always go as planned. Things happen in life in which you have no control.  Read more >
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MNP Debt Blog