MNP Debt Blog

This statement bothers me every time I hear it! To say that a Licensed Insolvency Trustee (LIT) works for one party suggests that he or she works against someone else.

At MNP, we hear this a lot: “I have a pension through work (or pension savings) and I know what I will received from Canada Pension Plan (CPP) and Old Age Security (OAS). Am I ready to retire?”

Making a major purchase can be exciting or necessary, but it is also an expenditure that can get you in financial trouble, particularly if you don’t properly plan for the purchase.

Debt is often caused by life circumstances such as a job loss or a divorce, or simply by spending beyond your means.

Ultimately, the purpose of any business is to make a profit. The value of any business is largely determined as a multiple of its profit or cash flow.

In today's economic climate, with employment on shaky ground and an ever-increasing cost-of-living, many households have turned to credit in times of need to get them through financial binds.

New rules in Ontario to better protect consumers from unscrupulous debt settlement companies come into force this week, but bankruptcy trustees says those in financial trouble seeking help still need to be cautious.

Prepare for the New Year by not increasing your debt burden over the holiday season. Gifts, travel, entertainment and boxing week sales are all outside the normal course of your monthly spend.

Recent headlines indicate that more and more senior citizens are heading into retirement while still in debt. According to credit reporting agency reports, the average debt for consumers aged 65 and older has seen the largest year-over-year increase for...

Here is a small checklist of things to look at and what to pay special attention to. It will involve looking at a few documents and may involve a few phone calls and, if required, a meeting with your financial advisor, lawyer or notary.