MNP Debt Blog

While it can be tempting to solve a short-term cash problem with long-term savings, cashing in your RRSPs to pay down debt should be a last resort.

If you are retired and have a large debt load, you may be considering filing for bankruptcy . You may also be wondering, however, what will happen to your retirement income and investments if you declare bankruptcy.

Consumers have often expressed their concerns to me about harassing calls from debt collectors and how to deal with collection agents. Some even complain that even though they have made an assignment in bankruptcy (i.e. filed for bankruptcy) or made a...

A Consumer Proposal is a formal, legally binding process to deal with debt. Although it is not a bankruptcy, it falls under the Bankruptcy and Insolvency Act.

There are a number of companies that advertise ‘Debt Management Services’. In essence, these companies are suggesting they can negotiate a settlement with your various unsecured creditors on your behalf without going through a formal Consumer Proposal...

While no one really wants to borrow more than they can afford, life doesn't always go as planned. Things happen in life in which you have no control.

Do you live in Quebec? Are you struggling with debt? The good news is, there are multiple options available to help you eliminate your debts, each of which has their own unique considerations and work best in varying situations.

On occasion people with debt problems may indicate that they are contemplating filing Chapter 7. Chapter 7 refers to a section of the United States Code that provides for the liquidation of an individual’s non-exempt property and the distribution of...

When you are in financial trouble, you are likely experiencing a stressful situation. Harassment by debt collectors will only add to that stress.

Personal income tax debt is a huge problem for both salaried and self-employed Canadians. The question is: why?