MNP Debt Blog

Understanding which debt is secured and which is unsecured is important as they affect you differently, particularly if you default in your payments.

Most people wait far too long to seek professional help with their debt. There are several common reasons for the hesitation.

Collection agencies use many tactics to enforce repayment of debt. The most common methods are phone calls and letters. However, depending on the amount owed, the situation can quickly escalate to threats of legal action — which, in turn, can result...

Household debt is a major challenge in Canada. The average Canadian currently owes more than $20,000 in non-mortgage debt — and a total of about $1.70 for ever one dollar they earn.

Nobody enjoys being late on bill payments. But unfortunately, it's not always possible to make ends meet. Anyone who has ever been in a position where they're forced to choose between basic necessities and keeping up with their debts understands just...

Bankruptcy, insolvency — what's the difference — and, more importantly, which one will help you get the financial fresh start you need and deserve?

Almost all Canadians face financial hurdles to some degree or another — but few financial challenges are as costly or self-perpetuating as the misuse of payday loans. Understanding their intended purpose and affiliated risks is essential.

Owing Canada Revenue Agency (CRA) money can be overwhelming — especially because the government has greater powers to collect outstanding debts compared to other creditors.

Let’s say you’re part of a family where both you and your spouse are employed in well paid, professional jobs. Net annual household income is approximately $120,000 or approximately $10,000 per month. The family — you, your spouse, and...

Owing the government money can be very intimidating as it's assumed the government has a limitless ability to collect the debt through any means necessary.