2025-10-13
Managing debt through divorce: What to consider
Debt Solutions Lifestyle Debt
When relationships end, shared debt can become a lasting burden. Here’s what to know about your responsibilities, risks, and financial options.
2009-04-15
If Canada Revenue Agency/Revenue Canada ("CRA") has a garnishee on your wages for a specific amount, without filing a formal "process" to stop the garnishee the only ones who can change the amount of the garnishee is CRA. You could talk to the collector that has your file and see what types of arrangements you can make with them. You may likely need to prepare your budget to show why a $3,500 per month garnishee is too much for you to handle. Alternatively.....you could look at filing a formal process such as a proposal or possibly a bankruptcy, depending on your situation. These options would restructure the debt you owe to CRA or look at getting rid of it through a bankruptcy process if you are unable to make payments to them. If they won't accept your voluntary offer of $1,000, a proposal would be a formal process to offer them the same thing....... but in a more formal, binding manner. You may wish to contact one of our Trustees in your area to see if this is an option for you. See our link athttp://www.mnpdebt.ca/contact/default.aspx for our various offices. You may also be able to use it as a bargaining tool with CRA. Donna Carson, CGA, CIRP, Trustee
2025-10-13
Debt Solutions Lifestyle Debt
When relationships end, shared debt can become a lasting burden. Here’s what to know about your responsibilities, risks, and financial options.
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.