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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.​​

Risky Business

When the economy is going well and your business is humming, all seems good. But what happens, if there is a downturn? Is your business ready? Are you? Read more >

What Happens if I Don't Fulfill My Duties During A Bankruptcy?

What exactly are your duties during a bankruptcy and what happens if you can’t keep up with them? Both very good questions! Read more >

Consumers in B.C. and the Burdens of Debt

As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses. Read more >

Google takes a stand against payday lenders

Top search engine Google, has just taken a landmark stance against payday loans lenders, who offer short term loans at extremely high interest rates – often putting consumers at great risk for unmanageable debt as they struggle to pay off loans and interest, only to have to borrow again after having to account for the significant financial hit. All too often, those in the greatest need of debt solutions and financial advice, are those who fall victim to what initially appears to be a viable short-term solution to a financial pinch. Read more >

What is the Difference Between a Secured and Unsecured Credit Card?

Whether you are trying to figure out which credit card is right for you or if you are looking to rebuild your credit, it is important to know your options. Most credit cards have the same basic functions – they offer convenience, when purchasing goods and services. Credit cards differ when it comes to interest rates, service fees, reward programs and member benefits. There are two main types of credit card options: secured credit cards and unsecured credit cards. Read more >

Can Someone Else Assume Responsibility for my Debt(s)?

The short answer, is yes, though the reality of passing off the responsibility of your debt(s) can be a little more complicated. There are a number of ways for a third party to assume responsibility for your debts – both on a formal basis and an informal basis. But beware, the informal options could leave you solely responsible in the end. The best way to stop your ongoing liability for your debts is to look toward a “formal” option whichobtains the creditors’ approval. Read more >

The Balancing Act Lawyers & Restructuring Insolvency Professionals - Working Together

There are many reasons why a business may find itself facing financial. Contributing factors can trigger a host of underperformance issues including declining earnings, liquidity and cash flow concerns, and stakeholder pressure. To a large extent, demand for restructuring and insolvency assistance runs counter-cyclical to the economic situation; when times are hard and businesses are struggling to fulfil financial agreements made in happier times. As we struggle in an economic downturn and a weakened loonie, many Canadian businesses are looking for debt solutions that allow them to manage their financial obligations and get back on track to driving growth. Read more >

MNP Ltd. Building Our Story Year After Year

MNP’s history dates back to 1945, when Winnipeg-based Laird, Sprague & Co opened an office in Brandon, Manitoba. In 1957 however, the Brandon office became independent when Laird, Sprague & Co joined another firm. In 1958, Ron Meyers acquired full ownership of the office. The firm officially was renamed Meyers Dickens Norris Penny & Co. (MDNP) in 1969. When Al Dickens decided to leave the partnership in 1972, the firm became Meyers Norris Penny & Co. Read more >

High Debt Loads Hurt Albertans

Given the current economic downturn in Alberta, it's not surprising to learn that insolvencies are at a significant upturn in the province. MNP's Donna Carson was on hand to speak with the Globe and Mail about the financial distress many in the province are facing. Read more >

Bankruptcy Up By 25% in Southeast Saskatchewan

MNP LTD Trustee Ian Schofield was interviewed by Discover MooseJaw to discuss the increase in insolvencies in Saskatchewan. The original article was originally posted online at Discover MooseJaw on April 5, 2016. Read more >
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MNP Debt Blog