MNP Debt Blog

You have probably heard, more than once by now, that not all debt is created equal. Some types of debt can actually be beneficial, where others can put your personal and family well-being at risk.

Creating strong budget habits early in adult life is essential to building a pathway to financial independence. To start, you will need to learn to create a budget.

Compromised mental health is a concern for many reasons — including its negative economic impacts. At the same time, financial stress can certainly adversely affect mental health.

Between generations and over the years, our behaviours, attitudes and approach to finances have changed dramatically.

The first step in understanding your financial health is to understand how the rise of interest rates will affect your unsecured debts. The most common types of unsecured debts are lines of credit and credit cards.

In less time than it takes to scroll through one of the streaming services to find your next series or movie to watch, you can focus on your debt and have a plan to keep it under control.

While taking on business debt is not inherently bad, like all debt, you must approach it from a prudent and practical standpoint.

If you’re like most Canadians, then you most likely have debt from multiple sources. These could be some combination of auto loans, credit cards, student debt, lines of credit, installment plans on retail purchases via “buy now pay later”,...

There are approximately 1,000 LITs in Canada; all are licensed by the federal government. Whether it is a small personal bankruptcy or a large CCAA company restructuring, an LIT is involved. The educational requirements to become an LIT are rigorous....

Until March 2020, there was no such thing as a virtual insolvency proceeding, unless you lived in a remote area. If you wanted to file a Bankruptcy or Consumer Proposal, you had to meet with a Licensed Insolvency Trustee in person.