MNP Debt Blog

Bankruptcy, insolvency — what's the difference — and, more importantly, which one will help you get the financial fresh start you need and deserve?

It’s important to understand how the debt will ultimately be split up, and what happens when one spouse can no longer afford to pay their share.

Almost all Canadians face financial hurdles to some degree or another — but few financial challenges are as costly or self-perpetuating as the misuse of payday loans. Understanding their intended purpose and affiliated risks is essential.

Understanding which debt is secured and which is unsecured is important as they affect you differently, particularly if you default in your payments.

Whether you undergo a bankruptcy proceeding or a consumer proposal to get a fresh start from excessive debt, one important item to understand is the rules around surplus income.

Nobody enjoys being late on bill payments. But unfortunately, it's not always possible to make ends meet. Anyone who has ever been in a position where they're forced to choose between basic necessities and keeping up with their debts understands just...

Most people wait far too long to seek professional help with their debt. There are several common reasons for the hesitation.

Let’s say you’re part of a family where both you and your spouse are employed in well paid, professional jobs. Net annual household income is approximately $120,000 or approximately $10,000 per month. The family — you, your spouse, and...

Though the deadline for forgiveness repayment has passed, there are still options for businesses owing.

Owing the government money can be very intimidating as it's assumed the government has a limitless ability to collect the debt through any means necessary.