MNP Debt Blog

People fear the word “bankruptcy” for many different reasons. Often people worry about the effects a bankruptcy may have on their credit rating, the effect on their family or on co-signors and the societal perceptions.

The primary purpose of the Bankruptcy and Insolvency Act (BIA) is to allow honest but unfortunate debtors relief from their debts and the chance to make a financial fresh start.

All debt can be overwhelming, but there’s no creditor quite as frightening as the all-mighty tax collector. In fact, unfiled and / or unpaid taxes are two of the most common reasons self-employed individuals and sub-contractors seek the assistance...

Debt by itself can be a scary thing. Coupled with divorce, it can seem insurmountable.

Thinking about financial freedom is like thinking about starting a diet – forcing yourself eat only healthy and unsatisfying foods when all you really want is a piece of double chocolate cake. But if you worry that finding financial stability means no...

As baby boomers continue to age, they face a growing number of questions about how they’re going to manage in the last phase of their lives.

After nearly a decade of historic lows, the Bank of Canada began increasing its key overnight interest rate in July 2017 in response to improving employment figures and a growing economy.

With the steadily increasing record levels of consumer debt amongst Canadians, as a Licensed Insolvency Trustee, I am surprised by the number of people who contact me without having ever obtained their own credit report.

People often worry meeting with a Licensed Insolvency Trustee means they’ll be forced into Bankruptcy or a Consumer Proposal and not offered any other options.

One of the first questions I typically ask my clients is this: “When was the last time you drew up a budget?”