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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.​​

BoC Warns About Rising 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. Credit can be a great solution for managing short-term necessities, but long-term credit dependency could lead to significant financial distress - especially if you're deep in the red when interest rates inevitably begin to rise. Read more >

Guaranteeing Somebody Else’s Debt? WAIT!

Sometimes a financial institution or other form of lender will not grant credit to an individual or company (the “borrower”) unless someone else provides a guarantee. This can be potentially dangerous because if the borrower defaults on the loan, the lender will pursue you (the “guarantor”) for payment. Read more >

MNP Tax Debt Webinar 2016

Haven’t filed taxes in a while? Do you owe back taxes or need help with CRA income tax debt? Most people don’t know that income tax debt can be forgiven in a bankruptcy or proposal. To learn about the options available to you, watch the recording of MNP’s 2016 Tax Debt Webinar. Read more >

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 >
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MNP Debt Blog