MNP Debt Blog

Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.

MNP released its most recent Consumer Debt Index just as the COVID-19 pandemic started gaining a foothold in Canada. The data — which Ipsos collected over the two weeks preceding the indefinite shutdown of non-essential businesses and millions of...

Canadians are facing a lot of uncertainty right now. With a sudden economic downturn and many businesses shuttered due to social distancing measures, millions have found themselves out of work and unable to pay their debts.

Consumer Proposal is a formal offer to your creditors to settle your unsecured debt. It reduces the overall amount of debt you pay back while ensuring your creditors still recover a percentage of what’s owed to them.

Sometimes life doesn’t turn out the way we expected and we find ourselves overwhelmed with debt.

Owing money to a family member or friend can spark anxiety. You may believe you don’t have to include these types of debts in a Bankruptcy or Consumer Proposal.

Often, people are uncomfortable speaking openly about their debt and its impact on their personal well-being.

Part of deciding whether a Bankruptcy or Consumer Proposal is right for you is knowing what kinds of debts can be included and will be discharged when the process is successfully completed.

A lot has changed over the past 200 years, but those two simple truths live on. Much as it may irk some, cost more to others and confuse many, filing taxes is the law, plain and simple.

In today’s constantly shifting economic landscape, many Canadian households are struggling to keep up from one payment to the next – let alone keep up with an ever-increasing cost of living.