MNP Debt Blog

Beginning in January 2018, the Office of the Superintendent of Financial Institutions (OSFI) has prescribed new mortgage rules for Canadian homebuyers.

As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses....

A Consumer Proposal is a formal, legally binding process which involves a reduction of unsecured debt, or an extension of time for repayment of the debt or both.

I completed a consumer proposal in March 2010. I took it out in March of 2008. No problems - it really helped me out. Just wanted to know when it will be removed from my credit file.

The Ontario Ministry of Consumer Services has recently issued an alert warning consumers to exercise caution when considering a contract for services being marketed as “debt settlement”, “debt management”, “debt reduction” or “debt consolidation”.

High consolidation loan against car - what happens in a bankruptcy? - "seize or sue" options that the lender has

A survey conducted by Pollara for BMO revealed that Canadian holiday spending plans in 2013 were up for the third straight year, with anticipated average spending on travel increasing 22% to $689, while average gift-buying went up only slightly, to $678...

To keep yourself on track for a good financial start to 2016, try creating a detailed budget before you leave your house. Having a plan in hand will help you check things off your list – rather than adding to it!

For a family struggling financially, this can be a difficult time of year as these expenses accumulate rapidly and the family often feels obliged to incur these expenses as a matter of meeting societal expectation.

MNP LTD Trustee Judy Scott was interviewed by The Province to discuss post-holiday debt.