MNP Debt Blog

Continuing with part 2 of our 5-part series on Bankruptcy 101, we now explore the process of filing for bankruptcy.

Many people in financial difficulty don’t realize that there are options other than bankruptcy. A trustee has a responsibility to go through all of these options with you. This 5-part series is meant to provide a general overview of bankruptcy.

As the Canadian economy continues to slump and unemployment grips thousands of households across the country, it's no surprise to learn that many are struggling to keep up with the costs of day-to-day living, let alone manage debt.

What assets can I keep if I file for bankruptcy?

If an individual has assets in more than one province, how do you determine which assets they get to keep?

How common is it for credit card companies or loan companies, such as Wells Fargo, to request a garnishment for debts less than $10,000 in Manitoba?

Low interest rates and readily available credit have caught a lot of consumers in the trap of the ‘have now pay later’ trend. In fact, Canadian consumers are already spending 163% of their income.

Often, when people think of insolvency, they relate it directly to bankruptcy. This can be very deflating to those who find themselves struggling with debt, but want to avoid having to file for bankruptcy.

With the holidays around the corner, financially strapped Canadian families are wondering how to make it through without breaking the bank.

Credit is somewhat of an enchanted thing. It allows us the flexibility to make purchases ahead of when we would otherwise be able to afford them. Unfortunately for many when it comes to credit, the ‘trick’ often follows the ‘treat’....