MNP Debt Blog

A new survey released by MNP LTD finds that Atlantic Canadians are concerned about the uncertainty of a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.

Debt that you owe and repay to your creditors consists of two parts. The first part is the money you originally borrowed. The other part is the interest (and sometimes fees).

A new survey released by MNP LTD finds that Albertans are concerned about the uncertainty of a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.

Friday, March 4, 2016 marked the 10th annual Chili Cook-Off fundraiser for Community Care of St. Catharines and Thorold.

The debt load is now overwhelming. This is not where you thought you would ever find yourself. After trying everything you can think of to manage it, you see no light at the end of the tunnel and you know it’s time to consult with a Licensed Insolvency...

Bankruptcy is a process that allows a debtor to get a fresh financial start. When you file for bankruptcy, you surrender your assets to your bankruptcy trustee. The trustee then turns those assets into cash, and distributes the money to your creditors....

If I decide to declare bankruptcy for my own personal dept, are my allowable asset values the same even if I am married with children?

I've been doing insolvency work for a very long time, so I remember when interest rates were much higher than they were today. In fact, I recall back in the 1980s when mortgage interest rates were over 20% in some cases (no, that is not a typo).

Filing for bankruptcy can be daunting. Many people fear they will lose absolutely everything. The good news is, that’s not the case. When you file for bankruptcy, some of your assets are protected from being seized by the creditors.

Your bankruptcy does not automatically lead to the bankruptcy of your spouse. The fact that you are married or living common-law has no effect during bankruptcy. It is mostly your shared assets and debts that may have consequences for your spouse.