MNP Debt Blog

Struggling with rising debt? MNP Bankruptcy Trustee Dean Prentice discusses increased debt loads and how consumers can manage them in our latest blog.

Anyone wishing to file for personal bankruptcy in Canada will have to go through six key steps prior to receiving their discharge from bankruptcy.

According to one industry estimate, approximately 7% to 10% of Canadians use payday loans on a fairly regular basis to get by. Payday loan companies often trap low-income earners and cash-strapped individuals. At first, payday loans might seem like a...

With the holidays just around the corner, many Canadians are starting their Christmas shopping, ready to shell out hundreds of dollars to surprise loved ones with the perfect gift.

As we await the Bank of Canada’s next announcement on interest rates, Canadians’ appetite for cheap credit is being highlighted by our latest survey.

Given today’s economic climate, thousands of families across Canada find themselves in a delicate balancing act between keeping up with financial necessities while trying to pay down ongoing debt.

It’s hard to believe it’s that time of the year again. Income tax time. Hopefully you were able to budget for your instalments last year in the correct amount, or your employer took the right amount of taxes from your pay. But what if we miscalculated?...

As Albertans continue to face a difficult economic climate, increased job losses and a dropped loonie, it’s not surprising to learn that debt in the province is on the rise – and consumers are having a difficult time keeping up with their debt payments....

Based on current economists, Canada’s debt to income ratio has reached an all-time high of 163.3%. This means Canadians have $1.63 of debt to every $1.00 of earned income, the highest level ever seen on record. Canada is only 15% below where the United...

Based on current economists, Canada’s debt to income ratio has reached an all-time high of 163.3%. This means Canadians have $1.63 of debt to every $1.00 of earned income, the highest level ever seen on record.