""

MNP Debt Blog

Displaying results for:

Discover the difference between bankruptcy and insolvency

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

Read More

The Payday Loan Trap

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.

Read More

What are my options to deal with debt?

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.

Read More

What tactics will debt collectors use to recover overdue bills?

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...

Read More

Understanding the rules of surplus income

Whether you undergo a bankruptcy proceeding or a consumer proposal to get a fresh start from excessive debt, one important item to understand is the rules around surplus income.

Read More

What is secured vs unsecured debt

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

Read More

Living on a Single Income (3 Minute Debt Break)

With a wavering Canadian economy and unemployment continuing to roll through several Canadian provinces, thousands of households have found themselves struggling to make it from one financial obligation to the next. This is especially true for single...

Read More

How do I know when to ask for help with my debt?

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

Read More

The truth about tax debt

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

Read More

Loved ones and debt: how to broach the subject

According to separate surveys conducted in Canada and the United States, discussing the topic of personal debt was ranked by some participants as a bigger taboo than topics like politics, religion, and marital problems.

Read More
Consultation icon