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.
2014-12-23
One of the first options anyone with financial difficulty should consider is consolidating their debts through what is normally called a debt consolidation loan. In particular, if you have a number of high interest credit cards, taking out a loan to pay the credit card balances off can often save you significant interest costs and give you just one monthly payment to make.
In order to get a debt consolidation loan, you will need to have sufficient income to make the required payment, a good enough credit rating to qualify for the loan and make sure you do not incur additional debt after you have taken out the consolidation loan.
You will also need to consider carefully how much interest you can save, whether you can afford the required monthly payment and how stable your income will be over the term of the loan.
A debt consolidation loan should have only positive implications for your credit rating, provided you make the required payments. Anything other than making the required payments to your creditors will obviously reduce your credit rating. If your credit rating is already poor (because you have missed payments or had your account turned over to collection) you may find that you don't qualify for a consolidation loan.
If you aren't able to qualify for a consolidation loan, there are still other options, including a Consumer Proposal. Contact your local MNP Ltd. office to discuss all of your available options.
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.