Catch up on our most popular blogs of 2021

2021-12-17   minute read

Grant Bazian

Lifestyle Debt

Debt Solutions

MNP Licensed Insolvency Trustees are committed to providing the services and advice you need to permanently address problem debt — ideally before it becomes a problem. We’re also passionate about helping you feel as confident and comfortable as possible about your options for a healthy and positive financial future.

Our most popular blogs throughout 2021 cover a wide range of topics, from tax debt to rebuilding your credit after a Bankruptcy or Consumer Proposal to your rights as a consumer. They’ve already empowered hundreds of people on their debt free journey. We hope they’ll help you head into 2022 with renewed hope and optimism, no matter the challenges or opportunities that come your way.

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What happens if I owe CRA a lot of money?

August 14, 2018 | John Athanasiou, CIRP, LIT

It's often assumed the government has a limitless ability to collect their debts through any means necessary. And while they do have far more powers than the average creditor, there are still options to protect your income and get a financial fresh start.

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Buyer’s remorse laws can help you stay out of debt

November 21, 2018 | Joel Kideckel, CIRP, LIT

We’ve all been there — we swipe our credit card to complete a purchase only to later realize we’ve made a mistake. Thankfully in a great many cases, company policies and provincial laws protect us from having to live with the regret of hasty or misinformed decisions.

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Is there a statute of limitations on my debt?

December 8, 2014 | Donna Carson, CIRP, LIT

The province of Alberta has a two-year statute of limitations for creditors to secure a court judgement to collect your debt. However, that doesn’t necessarily prevent them from contacting you or trying to collect in other ways.

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MNP Consumer Debt Index: low interest rates and rising costs leading many Canadians down ever-riskier path to borrow more

October 4, 2021 | Grant Bazian, CIRP, LIT

The October 2021 MNP Consumer Debt Index raised red flags about Canadians’ plans to borrow more — and in potentially riskier ways — to make ends meet or finance their purchasing habits over the next few months.

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Life after a Consumer Proposal

June 10, 2014 | Lana Gilbertson, CIRP, LIT, and Linda Paul, CIRP, LIT

By completing a Consumer Proposal, you have permanently moved on from your past financial issues and are free of your unsecured debts. Now it’s time to prepare for what comes next — and that starts with rebuilding your credit rating.

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Getting a mortgage after a Bankruptcy or Consumer Proposal? Here’s what you need to know about mortgage loan insurance.

November 24, 2020 | Leah Drewcock, CIRP, LIT

Now that you’ve completed your Bankruptcy or Consumer Proposal, you’re keen to take the next step toward home ownership. You’re saving, budgeting, and nearly ready to put an offer in — but have you factored mortgage default insurance into your calculations?

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What happens if I don’t fulfill my duties during a Bankruptcy?

May 24, 2016 | Mary Plahouras, CFE, LL.M.

If you fail to comply with the duties imposed on you under the Bankruptcy and Insolvency Act, the Licensed Insolvency Trustee will oppose your discharge from Bankruptcy and bring an application for a court hearing. However, there may still be options to ensure you get a financial fresh start.

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Can creditors seize or garnish government retirement benefits?

April 13, 2021 | Tanya Reynolds, CIRP, LIT

One of the biggest concerns among indebted pensioners is whether creditors have the right to seize or garnish their Canada Pension Benefits (CPP) and Old Age Security Benefits (OAS). The good news is these are usually protected — however, there are circumstances where protections don’t apply.

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Income Tax and Consumer Proposals – tips for managing tax debt

December 8, 2017 | Lana Gilbertson, CIRP, LIT

Do you have income tax debt that you’re concerned you won’t be able repay? The good news is most tax debt can be included in Bankruptcy or a Consumer Proposal and has no greater priority than any other debt.

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How do I know if I have too much debt? Six signs that don’t lie.

July 20, 2021 | Olivier Boyd, CIRP, LIT, CPA, CMA

While everyone loves a good benchmark, there’s never a clear-cut answer for how much debt is too much for any individual. There are, however, universal warning signs that debt is becoming unsustainable.

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