MNP Debt Blog

The phone won’t stop ringing. You’re afraid to answer the phone because you’re pretty sure it’s a collection agent.

Canadians underestimate debt-to-income balance. February 23, 2015, Calgary, AB — Almost of fifth of Ontario residents owe more than they own or earn, making them technically insolvent and at risk of bankruptcy, according to a new survey by Ipsos Reid....

You finally met the right person and now you want to take your relationship to the next level. You move in together or you want to make it more official and get married.

Many people find they struggle financially during the post-Christmas winter months. Holiday credit card bills come in, and combined with higher energy and other winter expenses can put a strain on an otherwise balanced household budget.

The Bank of Canada announced on Jan. 21 the interest rate had been cut by 0.25%. Although good news, MNP personal bankruptcy trustees caution Canadians about taking advantage of this decrease by taking on more debt.

LETHBRIDGE - While many Canadians may be tempted to borrow more after the Bank of Canada’s recent cut to interest rates, local Personal Bankruptcy Trustees are strongly advising people not to.

It was Benjamin Franklin who said, “We get old too soon and wise too late.”

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

If you have severe debt problems, filing for bankruptcy may be an option. However, it is a decision that should not be taken lightly. Consider some of the following pros and cons of filing for bankruptcy:

A new survey conducted by Ipsos Reid on behalf of MNP Ltd. reveals that a sizable portion of Canadians are willing to take on more debt due to the Bank of Canada’s key interest rate cut announcement.