MNP Debt Blog

Warning signs you may be headed toward financial hardship

Sometimes clients express concern that they will not be able to open a bank account or conduct banking while going through the process. This is not a concern in Canada.

Here is an article - with some interesting discussion in the comments - about a young graduate who wants to know if he should invest or pay of his student loan debt.

Most baby boomers have not saved enough for retirement - nowhere close in fact

2013 Consumer Choice Award - Saskatoon

In a recent poll conducted on behalf of CIBC, 14% of Canadians with debt say they will never pay it off.

MNP’s Winnipeg was awarded the 2013 Consumer Choice Award in the Trustee in Bankruptcy category for a second straight year

In case you haven’t heard, Canadian household debt-to-income levels have reached the record levels seen in the U.S. prior to the housing collapse.

Believe it or not, household debt in Canada has actually soared past levels in both the U.S. and the U.K. The average household carries about $110,000 in debt – more than double the amount we used to carry back in the early 90s.

To the best of our knowledge, filing an assignment in bankruptcy (or a consumer proposal) under the Bankruptcy and Insolvency Act would not preclude or prevent you from becoming a citizen. However, if you are an undischarged bankrupt, you may not apply...