2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2014-07-14
Are you finding it hard to stay financially afloat? Do you feel overwhelmed or like you are drowning in debt? High interest rates, expensive housing costs, unexpected expenses and the increasing price of day-to-day items can easily contribute to putting you in a position where you can no longer make ends meet. As a general rule, 70% of your household net income should be allocated to your basic needs; food, shelter and transportation. But with the increasing cost of living, this percentage is often quite higher, leaving individuals with very little left over to maintain their other monthly bills and expenses.
Has your debt load been slowly increasing over the years? If you feel like you’re living paycheque-to-paycheque, you’re also probably feeling additional stress. Simply trying to maintain your lifestyle can lead you to a place where you are no longer able to manage your debt load. Common signs you are in financial trouble can include:
It is hard for anyone to admit they can no longer keep their head above water when it comes to debt, but if you find yourself agreeing with any of the signs listed above, it is time to explore your options. There are several, life-changing solutions for recovering from debt and discovering which option will work best for you will depend on your specific situation. The sooner you know what your choices are, the sooner you can work toward being debt-free and living within your means. It is strongly recommended you work with a government-licensed and regulated restructuring professional, like those at MNP Ltd., to get a clear understanding of the bankruptcy alternatives that may work for you. Once you’ve found the right option for your unique situation, you will finally be able to recover from that drowning feeling and have the tools in place to avoid future financial stress.
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.