MNP Debt Blog

If you’ve been researching options to manage and overcome your debt, it’s likely you’ve already heard about Consumer Proposals and may even have a basic understanding of how they work.

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

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...

After completing a Bankruptcy or Consumer Proposal, rebuilding your credit can feel nearly as daunting as getting out of debt. But just a few steps every day will get you where you want to go. The following steps will help you focus on your goals, outline...

The second season of the MNP 3 Minute Debt Break podcast has come and gone, and now it's time look back at a few of our favourite episodes.

The bills are piling up. You’re constantly getting calls from creditors. You borrow money from friends and family but it doesn’t seem to be helping. You know that you need to do something, but … what exactly do you do? You don’t...

This is part one in a six-part series on the rationale behind switching banks prior to filing for bankruptcy or kicking off a consumer proposal.

Being insolvent can result in declaring Bankruptcy. However, insolvency does not necessarily lead to Bankruptcy. Depending on your situation, there may be other ways of dealing with your debt.

For eliminating debt all-together, two widely used options for Canadian households are Bankruptcy and Consumer Proposals. Although both filings are legislated under the Bankruptcy and Insolvency Act, also known as the BIA, and must be filed by a Licensed...