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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.​​

Debt: How Much is Too Much?

Nowadays, most Canadians carry some form of consumer debt. Credit, when used wisely, can be a good thing. But many Canadians are over-extended, financially stressed and struggling to perform a delicate fiscal balancing act. If you are concerned about debt and are beginning to wonder how much debt is too much, here are a few questions to ponder. Read more >

Not a Canadian Citizen and in Financial Trouble? Here’s Some Well Deserved Advice!

Canada is a welcoming place. People from across the globe have been choosing to immigrate here for generations and have, in return for new opportunities, given back more than could have been expected. Our country is richer for their presence. Read more >

MNP's Ag Outlook 2016 Webinar

Recording of MNP's webinar discussing the Canadian Agriculture Services Outlook. If your firms or clients require Corporate Recovery or Agricultural Services please feel free to contact us to arrange a meeting. Read more >

As Household Debt Continues to Rise, How are We Going to Pay for It?

With a weakened loonie and job losses on the rise, many are struggling to keep up with monthly expenses. In fact, according to a poll conducted with MNP, nearly 50% of Canadians are within just $200 of not being able to meet their financial obligations. Read more >

Loan Worries Weigh on TD, CIBC

As Alberta oil and gas companies continue to struggle with falling oil prices, many Canadians continue to struggle with unemployment, debt dependency and a difficulty keeping up with financial obligations from one month to the next. In this weakened economy, even financial institutions are looking for ways to accommodate a rise in delinquencies. Read more >

Canadian Debt is On the Rise but Our Economy Isn’t

As Canadians struggle in a weakened economy, thousands are starting to bend under the weight of trying to make it from one financial obligation to the next. And what are we relying on to get us through the day-to-day expenses? Debt. Read more >

Filing a Bankruptcy - Is it Really That Easy?

More often than not, when people find themselves in financial trouble they’re usually not sure what options are available to help them get back on track. Well-meaning friends and family may suggest a bankruptcy as a quick and easy solution. Even some insolvency firms who present themselves as having your best interests in mind, will say it only takes half an hour to come up with a plan to solve your debt problems. Read more >

Is Your Debt Making You Sick?

In times of financial uncertainty, many Canadians are relying on debt to help them make it from one financial obligation to the next. The problem is, using debt to pay for debt - will only lead to a dangerous cycle that can be very difficult to escape. Then comes the fallout - maxed credit and harassing phone calls to accompany the stress of managing the cost of essentials like housing and groceries.  Read more >

Before You Sign… Do You Know the Dangers of Co – signing a Loan?

Co-signing or guaranteeing a loan is one of the most dangerous financial decisions you can commit to. When you co-sign or guarantee someone’s loan, you take on all the financial risk, yet receive little or no benefit from the transaction. But in most cases, the guarantee is provided for a loan that a relative or friend has applied for, making it a difficult request to decline. Read more >

5 ways to Teach Kids how to Avoid Bankruptcy as Adults

Learning to handle funds responsibly is part of growing up. Unfortunately, it is not something usually taught in schools which means it falls to parents to teach their children how to do so. Here are a few suggestions you might want to consider. Read more >
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MNP Debt Blog