MNP Debt Blog

The numbers are in – and Canadians are on a credit spending binge.

As interest rates continue to sit at record-lows, Canadians have continued to spend, relying on credit when funds are in a pinch.

It's that time of year again. The days are shorter, the weather is brisk and the winter blues are setting in. As we brave another Canadian winter, it can be tempting to book the next ticket out of here with just a click of a button and a credit card....

Once an individual has completed the difficult task of a bankruptcy or consumer proposal, the question that is asked most often is, “How do I rebuild my credit rating?” The answer is, you can start rebuilding your credit immediately. Here...

As we head into the holidays, it's all too easy to watch the spending add up. Between holiday parties, decorations, groceries and gifts - the dollars leaving your account (or worse, going onto credit) can become overwhelming.

As Albertans struggle with mounting debt, many lack the financial literacy to integrate the changes they need to get on track – and even ahead of their debt.

The question i have to ask is can i go bankrupt and keep my car. i have a truck and car...i want to get rid of the truck and all my other credit debt. thanks

Even while many Canadian consumers are struggling under a sluggish economy and increased unemployment, many were not deterred from sloshing into the snow to hit the stores for seemingly ‘once in a lifetime’ deals.

The data is in, but it’s not necessarily surprising. Insolvencies are on the rise as many Canadians grapple with the burden of unmanageable debt.

According to Statistics Canada, households in Canada had the highest debt level ever when measured as a portion of disposable income in 2015’s second quarter.