MNP Debt Blog

Are your debt problems heating up? Perhaps it’s time to cool off with some debt relief

Unmanageable debt is exhausting. Living in financial uncertainty while trying to maneuver multiple payment schedules at varying interest rates, paired with the harassing phone calls from creditors can be completely overwhelming.

Statistics Canada recently released a report stating that Canadians are holding a record level of household debt with the average Canadian household owing 164.6% of its annual income.

When most people think of the term surplus income they think of the amount that they have available to spend after deducting their discretionary (i.e. entertainment, etc.) and non-discretionary (i.e. child support, etc.) expenses.

Only a government licensed Trustee in Bankruptcy can file a bankruptcy on your behalf in Canada. As part of this process, your Trustee will first conduct a comprehensive assessment of your financial situation to determine if a bankruptcy is your best...

Most people with an addiction to spending do not realize the extent of their spending until their credit cards or lines of credit are maxed out and bill collectors start calling. A spending addiction can begin as early as childhood and may be caused...

Bankruptcy is a process that releases you from most, if not all of your debt. In other words, bankruptcy lets you erase your debts and put an end to your indebtedness within a few months.

MNP LTD Trustee Doug Stuive was interviewed by Bankruptcy Canda Inc. , to discuss debt, bankruptcy and consumer proposals.

To keep yourself on track for a good financial start to 2016, try creating a detailed budget before you leave your house. Having a plan in hand will help you check things off your list – rather than adding to it!

The Execution Act is the legislation responsible for outlining those assets that cannot be seized by a creditor or a Trustee in Bankruptcy to help pay down debts.