MNP Debt Blog

Regret is one of the most common refrains Licensed Insolvency Trustees hear when we talk to clients about their debt. They ask questions like, “how did I get into this mess?” Or, “why did I make that decision?”

As baby boomers continue to age, they face a growing number of questions about how they’re going to manage in the last phase of their lives.

I recently worked with a retired and widowed client who came to MNP inquiring about possible debt solutions. He owed more than $120,000 on various credit cards and lines of credit which he was frightened he could never pay back in his lifetime.

Another new year is upon us, and with that comes a fresh batch of resolutions.

​Of course, this is a trick question… Everyone needs an emergency fund.

The Bank of Canada has raised interest rates five times since July 2017 after going nearly a decade without an increase.

As humans, we’re pretty good at ignoring problems we can’t or don’t want to deal with, hoping they’ll eventually go away.

Scheduling and attending a Free Confidential Consultation with an MNP Licensed Insolvency Trustee is the first step to changing your financial future.

If you’re struggling to control your debt, you know the vicious cycle it can become.

If you’re struggling to pay down your credit card debt, it may be tempting to apply for another (ideally lower rate) card which you can transfer your balance to or take advantage of special promotions offered by your bank.