MNP Debt Blog

What happens when you default on your consumer proposal and it becomes null and void? Does the credit rating automatically go back to zero after seven years even though it was never resolved?

First, let’s talk about what it means to default on a CP. Then we can look at what you can or should do if you do, in fact, default. There are certain protections in place that allow for some flexibility in ‘putting it back in the box’ so to speak, if...

Relationship breakdown is one of the top contributors to financial hardship.

Remember Simon and Molly? Last month they completed their first bankruptcy counselling session.

When Canadians find themselves in financial trouble, they may wonder about their options and who might be able to help.

The causes of excessive debt in Canada vary widely, with many factors coming into play.

The ability to keep your house when filing for bankruptcy depends on several factors.

Will I lose my home if I file bankruptcy?

The answer is no. A Government-Licensed Trustee will be there to help you through the process.

I am wondering if a life insurance policy would have to be collapsed and that money used to help pay creditors - it is worth about 10,000, the person still pays a monthly installment for it, and it is the only asset she has. Thank you,