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MNP Debt Blog

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How to rebuild after a Bankruptcy or Consumer Proposal (3 Minute Debt Break)

After completing a Bankruptcy or Consumer Proposal, rebuilding your credit can feel nearly as daunting as getting out of debt. But just a few steps every day will get you where you want to go. The following steps will help you focus on your goals, outline...

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Discover the difference between bankruptcy and insolvency

Bankruptcy, insolvency — what's the difference — and, more importantly, which one will help you get the financial fresh start you need and deserve?

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Understanding the rules of surplus income

Whether you undergo a bankruptcy proceeding or a consumer proposal to get a fresh start from excessive debt, one important item to understand is the rules around surplus income.

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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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Four ways a Licensed Insolvency Trustee can help you resolve your debt

How has COVID-19 impacted debt challenges in B.C.?

British Columbians have been through a lot in 2020 and 2021. The impacts of COVID-19 arrived suddenly and have been difficult to forecast. Some B.C. households have faced more challenges than others, but nearly everyone has experienced setbacks to some...

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Leah Drewcock: Why I am thankful to be a Licensed Insolvency Trustee

I was just a few years out of high school and still lived at home with my parents when I started working as an accounting and finance student at one of the ‘Big Four’ accounting firms.

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What Happens When You Commit to a Consumer Proposal (MNP 3 Minute Debt Break)

How Do I Know I Am In Financial Trouble (MNP 3 Minute Debt Break)

The warning signs of personal financial trouble are everywhere. Knowing what they are and how to recognize them can be the difference between quickly recovering from one or two bad months and being trapped in a months or years-long battle with debt. ...

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How do I know if I have too much debt? Six signs that don’t lie

This question comes up a lot, but it’s a difficult one to answer. While everyone loves a good benchmark, there’s never a clear-cut answer for how much debt is too much for any individual.

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