MNP Debt Blog

With the Bank of Canada holding interest rates at record lows of just 0.5 per cent, many British Columbians are on a credit spending binge, using home equity as a means for taking on more debt.

If you are an individual who has filed a bankruptcy under the BIA and you have not been discharged from bankruptcy, you may opt to make a Consumer Proposal to your creditors.

​Despite the fact that the Canadian economy continues to struggle, low interest rates have encouraged many Canadians to take on more debt.

Seasonal Income has led to many challenges for our clients. We see it often as debt ‘filling in the gaps’ until repayment becomes unmanageable.

With the Bank of Canada holding interest rates steady at 0.5 per cent, Canadians are on a credit spending binge despite a continued slump in the national economy.

While a corporation is intended, in part, to provide an individual with separation or protection from company debts, a personal director liability can be incurred on GST, PST and source deductions.

Despite the fact that the Canadian economy continues to struggle and unemployment takes its toll on several provinces, low interest rates have encouraged many Manitobans to take on more debt – putting thousands of households at risk should rates increase....

As Canadians settle down to embrace summer fun, what many are really doing is creating a winter of financial pain if they do not make the right choices over the coming months.

​​​With Mother’s Day fast approaching, I am reminded of some of life’s lessons my mother taught me about spending and shopping.

The numbers are in – and Canadians are on a credit spending binge.