MNP Debt Blog

Everyone’s financial journey is unique. If yours looks like it may lead you down the path of working with a Licensed Insolvency Trustee to file for Bankruptcy or submit a Consumer Proposal, then a debt-free future awaits you. The sign that you’ve finished...

Personal finances continue to be a major source of stress for Quebecers, and many anticipate that the situation will continue to deteriorate, according to the latest MNP Consumer Debt Index conducted quarterly by Ipsos.

Quebecers’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

Deciding to follow through on a Consumer Proposal is a tough decision to make. It’s not a position that anyone wants to find themselves in, but at the same time, it’s nice to know that there’s a reasonable path back to full financial freedom.

As interest rates move upwards and the cost of living remains a challenge for households, the proportion of Canadians who report being insolvent has reached an all-time high, according to the latest MNP Consumer Debt Index.

For people who are struggling with their debt, a Consumer Proposal can be a great option to get their finances back on track.

With interest rates rising and borrowing costs remaining a challenge for households, the proportion of Quebecers who feel anxious about debt has reached an all-time high.

More Canadians report their current and expected debt situation is deteriorating.

From near zero to the highest interest rates in over two decades, the latest MNP Consumer Debt Index reveals that significantly more Quebecers anticipate struggling with further rate hikes.

After consulting with your local financial advisor, you’ve determined that Bankruptcy is the next step for you. While the decision may not be easy, it’s an important step in your journey to debt freedom.