MNP Debt Blog

This is the second in a five-part blog series about what Consumer Proposals are, how the process works, and whether they might be the right solution for you to get permanent relief from your unsecured debt.

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.

Consolidation is one of the options you may choose to investigate if your debt payments have become overwhelming.

We’re asked this question often, largely because of the initial similarities many people see between these two debt solutions.

This year’s tax season will more than likely be extra challenging for the nearly nine million Canadians who applied for the Canada Emergency Response Benefit in 2020.

You’ve made your last payment but now what? How to establish and keep good financial habits following a Consumer Proposal.

Many Canadians may find themselves overburdened with debt due to various factors beyond their control.

For many people, the stress and uncertainty surrounding the pandemic has only served to compound existing financial difficulties. Loss of income and rising debt loads are adding to the stress and forcing individuals to look at options they never thought...