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MNP Debt Blog

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The Role of a Licensed Insolvency Trustee

A Licensed Insolvency Trustee (LIT) is an insolvency professional who has been licensed by the Superintendent of Bankruptcy in Canada to help individuals and businesses who are having difficulty paying their debt, administer Consumer Proposals and Bankruptcies...

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Tips for handling inflation to keep a balanced budget

Inflation is the measure of the rising price of certain goods and services. Statistics Canada measures it from month to month, based on a basket of goods that represents what a typical consumer would normally purchase.

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When Does a Full Payout Proposal Make Sense?

When you take on debt, the ideal scenario is always to pay it off in full, one way or another. Sometimes that goal becomes out of reach, which is why alternatives like bankruptcy and consumer proposals exist.

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Summer Fun List: How to Enjoy Vancouver on a Budget

Fortunately, there are plenty of things to do in the Lower Mainland for little or no money. If you need a break from the doom and gloom, check out our list for having some fun on a dime!

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5 Tips for Students to Protect Financial Health

Implementing these five tips for financial health can increase a student’s chance of converting that higher income into greater wealth and security.

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The Bank of Canada (BoC) increased its policy interest rate by a full percentage point on July 13, 2022. It was the fourth increase to the overnight rate this year and the largest since 1998.

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What’s the difference between Bankruptcy and insolvency? Here’s what you need to know.

Being insolvent can result in declaring Bankruptcy. However, insolvency does not necessarily lead to Bankruptcy. Depending on your situation, there may be other ways of dealing with your debt.

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Post-secondary education costs money. Depending on the program, sometimes a lot of it. But there are steps every student can take to prepare for these costs and minimize the future financial impacts of pursuing a higher education.

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Six Reasons Why You Should Switch Banks When Filing a Proposal or Bankruptcy

This is part one in a six-part series on the rationale behind switching banks prior to filing for bankruptcy or kicking off a consumer proposal.

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What’s the difference between secured and unsecured debt?

Debt is a financial tool. And like any tool, it comes in many different shapes and sizes to fit its purpose.

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