MNP Debt Blog

When dealing with debt, there are both formal and informal options. Formal options are undertaken via the Bankruptcy and Insolvency Act (BIA).

Hi I want to have personal Brankruptcy i have no money if I have bankruptcy how much will cost and who will pay?

I"m thinking of personal bankruptcy. I have a fulltime job plus I have a small incorporated business on the side that is pretty much on stand still. It is not making any money has no debt what so ever. Can I still consider a personal bankruptcy without...

Beginning in January 2018, the Office of the Superintendent of Financial Institutions (OSFI) has prescribed new mortgage rules for Canadian homebuyers.

As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses....

A Consumer Proposal is a formal, legally binding process which involves a reduction of unsecured debt, or an extension of time for repayment of the debt or both.

I completed a consumer proposal in March 2010. I took it out in March of 2008. No problems - it really helped me out. Just wanted to know when it will be removed from my credit file.

High consolidation loan against car - what happens in a bankruptcy? - "seize or sue" options that the lender has

The Ontario Ministry of Consumer Services has recently issued an alert warning consumers to exercise caution when considering a contract for services being marketed as “debt settlement”, “debt management”, “debt reduction” or “debt consolidation”.

A survey conducted by Pollara for BMO revealed that Canadian holiday spending plans in 2013 were up for the third straight year, with anticipated average spending on travel increasing 22% to $689, while average gift-buying went up only slightly, to $678...