MNP Debt Blog

When dealing with debt, there are both formal and informal options. Formal options are undertaken via the Bankruptcy and Insolvency Act (BIA).

Whether you’ve been searching on the internet, seen a print ad or heard a radio ad for debt relief or debt consolidation, you may have noticed the words ‘government-approved debt relief programs’. But what does this mean?

The causes of excessive debt in Canada vary widely, with many factors coming into play.

Many people experience the frustration that comes with trying to pay down – or ideally, off – their credit card bills each month. It can be difficult to see the majority of your monthly payment going towards high interest charges.

Both individuals and corporations can make use of the Bankruptcy and Insolvency Act. A consumer bankruptcy is simply a bankruptcy filing by an individual in Canada.

Individuals (and corporations) may find themselves in financial difficulty and Canada Revenue Agency (CRA) may be a creditor, possibly the largest creditor. This blog post will look at whether, and how, those debts can be included in a filing under the...

Debt consolidation is the process of combining two or more debts into one. The aim of debt consolidation is to enable you to become debt-free through one consolidated monthly payment over a defined period of time.

Getting into a situation where debt can get out of hand is a fairly common occurrence in today’s world.

In family law matters there are three types of proceedings that may affect a bankruptcy: child custody, support obligations and equalization issues.

When you hear the job title ‘Bankruptcy Trustee’, you probably assume they only administer bankruptcies, right?