MNP Debt Blog

Almost all Canadians face financial hurdles to some degree or another — but few financial challenges are as costly or self-perpetuating as the misuse of payday loans. Understanding their intended purpose and affiliated risks is essential.

Understanding which debt is secured and which is unsecured is important as they affect you differently, particularly if you default in your payments.

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.

Most people wait far too long to seek professional help with their debt. There are several common reasons for the hesitation.

Let’s say you’re part of a family where both you and your spouse are employed in well paid, professional jobs. Net annual household income is approximately $120,000 or approximately $10,000 per month. The family — you, your spouse, and...

Owing Canada Revenue Agency (CRA) money can be overwhelming — especially because the government has greater powers to collect outstanding debts compared to other creditors.

Thanksgiving is approaching. While some prepare to celebrate, you may be less confident about your ability to afford food and other items your family needs for the festivity.

Imagine yourself working hard to pay off a large sum of debt, but due to misfortune, mistakes, or any other circumstance, you’re falling behind. Your family depends on your income, and you are living paycheque to paycheque barely making ends meet....

Between rising interest rates and accelerating inflation, it’s hard to know what to blame when costs rise, and affordable mortgages are harder to negotiate.

Saskatchewan is seeing a hike in the number of residents filing for insolvency. With the steady rise in inflation figures and aggressive increase in interest rates in the country, Saskatchewan households are feeling the pinch.