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.
Low interest rates and readily available credit have caught a lot of consumers in the trap of the ‘have now pay later’ trend. In fact, Canadian consumers are already spending 163% of their income. Low interest rates have made borrowing more attractive than ever. Currently, over 60% of our borrowings are for mortgages. This combination of high borrowings and low rates makes for a very vulnerable consumer. If interest rates increase even slightly we will see many consumers unable to service their debt payments.
Here are some suggestions to help you scale back your life, better manage your debt and avoid being vulnerable to financial distress should we see an increase in the cost of borrowing:
Other tips to help manage your debt:
Scaling back spending, making a budget and putting your action plan to work immediately, will help you better manage your debt and before you know it, you’ll be debt free. For more information on how to manage your debts and scale back spending contact your local MNP Licensed Insolvency Trustee for a free, no-obligation consultation.
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.
2025-09-26
Lifestyle Debt Debt Solutions
Whether operating a small business, or large enterprise, there is a lot at stake for Canadian entrepreneurs.
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.