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MNP Debt Blog

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What happens if I declare bankruptcy?

Filing for Bankruptcy is very emotional — and can be stressful — but what I can tell you is that a Licensed Insolvency Trustee can help!

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What are the signs of good (and poor) financial health?

Currently, household debt levels, inflation, and key interest rates in Canada are among the highest in the world. Personal finances have become a hot topic as individuals and families cope with the effects of an economic downturn.

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Breaking the bankruptcy and insolvency stigma

Breaking stigmas means ridding ourselves of our assumptions, generalizations, and broad-brush statements that are harmful to individuals and groups.

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My spouse wants to declare bankruptcy and I don't, what are our options?

Debt problems can strain relationships and cause stress for the entire family. If your spouse has met with a Licensed Insolvency Trustee and is (or is considering) filing a Bankruptcy, the impact on you will depend on the extent of your joint debt.

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What will British Columbians’ costs of living look like in 2022?

The COVID-19 pandemic has introduced a seemingly endless list of one in a generation and once in a lifetime challenges. First came the worst virus in more than a century, followed quickly by mass layoffs and business closures. Now we’re facing a...

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

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

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What is my credit profile?

Knowing your credit profile before you meet with your financial provider can do a lot to help you address any risks or gaps you may want to attend to, and increase your chances of success in the application process.

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What Is a Licensed Insolvency Trustee?

The terminology surrounding debt problems and solutions can be confusing. How much debt is “overwhelming” debt? What does it mean to be insolvent — does it simply mean owing too much money to too many credit accounts? And what is the...

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What to do if you’re feeling blue this Blue Monday

While we’d never pretend to have solutions to all the problems that make Blue Monday depressing, there are steps you can take to reduce the financial stress that comes with this time of year.

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Understanding debt-to-income ratio

The debt-to-income ratio is a common headline story; for a long time, it has been reported that the number is very high and ever increasing. So what is this ratio, why is it rising, and most importantly, what does it mean for you personally?

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