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MNP Debt Blog

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The Truth About Payday Loans

A payday loan, also known as a payday advance or a cash advance, is a relatively small amount of money borrowed at a high rate of interest. Repayment is usually required within two weeks or on the next payday.

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The Time For Asset Protection Planning Is Now

As bankruptcies are being filed in record numbers by both consumers and businesses alike, many are wondering how to protect their assets.

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The Struggle With Rising Debt

Struggling with rising debt? MNP Bankruptcy Trustee Dean Prentice discusses increased debt loads and how consumers can manage them in our latest blog.

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The Six Steps Involved In Getting Out Of Bankruptcy

Anyone wishing to file for personal bankruptcy in Canada will have to go through six key steps prior to receiving their discharge from bankruptcy.

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According to one industry estimate, approximately 7% to 10% of Canadians use payday loans on a fairly regular basis to get by. Payday loan companies often trap low-income earners and cash-strapped individuals. At first, payday loans might seem like a...

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The Real Cost Of Christmas

With the holidays just around the corner, many Canadians are starting their Christmas shopping, ready to shell out hundreds of dollars to surprise loved ones with the perfect gift.

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As we await the Bank of Canada’s next announcement on interest rates, Canadians’ appetite for cheap credit is being highlighted by our latest survey.

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Its Your Lucky Day There Are Alternatives To Bankruptcy

Given today’s economic climate, thousands of families across Canada find themselves in a delicate balancing act between keeping up with financial necessities while trying to pay down ongoing debt.

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It’s hard to believe it’s that time of the year again. Income tax time. Hopefully you were able to budget for your instalments last year in the correct amount, or your employer took the right amount of taxes from your pay. But what if we miscalculated?...

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As Albertans continue to face a difficult economic climate, increased job losses and a dropped loonie, it’s not surprising to learn that debt in the province is on the rise – and consumers are having a difficult time keeping up with their debt payments....

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