MNP Debt Blog

If you are an individual who has filed a bankruptcy under the BIA and you have not been discharged from bankruptcy, you may opt to make a Consumer Proposal to your creditors.

With the Bank of Canada holding interest rates at record lows of just 0.5 per cent, many British Columbians are on a credit spending binge, using home equity as a means for taking on more debt.

Okanagan Edge recently covered an MNP survey surrounding financial literacy and consumer spending throughout B.C.

Segregated funds are a type of investment vehicle that allows an investor to invest funds with a guarantee minimum return of initial capital.

Given today's struggling economy, the fact that many households are grappling with the harsh realities of unemployment due to a stagnant energy sector and numerous other factors, an increase in interest rates, could push more than 30 per cent of respondents...

While credit can be helpful in a pinch, credit reliance can quickly become a dangerous cycle that's difficult to get out of when there's no longer a steady income coming into the household.

The association between insolvency and distrust may exist, but in reality, it’s often far from the case. In truth, financial distress hits people from all walks of life.

If you are experiencing financial difficulty, and can set aside any emotional bias preventing you from being able to make a rational decision in a timely manner, you will save both yourself and your household from significant stress and anguish.

Having a household credit card or two can come in handy for multiple reasons – which is probably why there are approximately more than 43 million credit cards currently active in Canada.

Pair soaring debt with a general lack of financial literacy throughout Canada and we’ve got ourselves a perfect storm.