MNP Debt Blog

Dealing with the stress of unmanageable debt is exhausting.

Owing the government money can be very intimidating as it’s assumed the government has a limitless ability to collect the debt through any means necessary.

We have seen countless news reports, tweets, blogs that tell us that Canadians have more debt than ever.

At MNP, we hear this a lot: “I have a pension through work (or pension savings) and I know what I will received from Canada Pension Plan (CPP) and Old Age Security (OAS). Am I ready to retire?”

Many people dream of owning a home. But with consumer debt in Canada at an all-time high, a significant number may worry that goal is out of reach.

The goal of living debt free is certainly an admirable one and something we support wholeheartedly.

Rich, poor or somewhere in between, financial wellbeing is an integral part of everyone’s mental health.

A debt consolidation loan is a single loan – generally obtained from a financial institution such as a chartered bank or credit union – that allows you to repay debts to multiple (and ideally all) creditors at once.

Each quarter, we partner with Ipsos to survey more than 2,000 Canadians, gauging their thoughts, feelings, concerns and opinions about debt.

You’re a good, honest person. You know you should pay your debts. You want to pay your debts. But you can’t.