""

MNP Debt Blog

Displaying results for:

Consumer Proposal vs Bankruptcy (MNP 3 Minute Debt Break)

For eliminating debt all-together, two widely used options for Canadian households are Bankruptcy and Consumer Proposals. Although both filings are legislated under the Bankruptcy and Insolvency Act, also known as the BIA, and must be filed by a Licensed...

Read More

What’s the difference between Bankruptcy and insolvency? Here’s what you need to know.

Being insolvent can result in declaring Bankruptcy. However, insolvency does not necessarily lead to Bankruptcy. Depending on your situation, there may be other ways of dealing with your debt.

Read More

Six Reasons Why You Should Switch Banks When Filing a Proposal or Bankruptcy

This is part one in a six-part series on the rationale behind switching banks prior to filing for bankruptcy or kicking off a consumer proposal.

Read More

What do you keep in a Consumer Proposal?

There are many lucrative benefits of a Consumer Proposal. One is you get a clear path to a fresh start, free from debt, while also being able to keep most or all of your assets.

Read More

The bills are piling up. You’re constantly getting calls from creditors. You borrow money from friends and family but it doesn’t seem to be helping. You know that you need to do something, but … what exactly do you do? You don’t...

Read More

Best of Season 2 - MNP 3 Minute Debt Break

The second season of the MNP 3 Minute Debt Break podcast has come and gone, and now it's time look back at a few of our favourite episodes.

Read More

How to rebuild after a Bankruptcy or Consumer Proposal (3 Minute Debt Break)

After completing a Bankruptcy or Consumer Proposal, rebuilding your credit can feel nearly as daunting as getting out of debt. But just a few steps every day will get you where you want to go. The following steps will help you focus on your goals, outline...

Read More

Your consumer proposal can have a fairy tale ending

Let’s say you’re part of a family where both you and your spouse are employed in well paid, professional jobs. Net annual household income is approximately $120,000 or approximately $10,000 per month. The family — you, your spouse, and...

Read More

Four ways a Licensed Insolvency Trustee can help you resolve your debt

Consumer Proposal vs. Bankruptcy: What’s the difference?

Many Canadians may find themselves overburdened with debt due to various factors beyond their control.

Read More