MNP Debt Blog

The role and functions of a Licensed Insolvency Trustee are understandably confusing for those who are new to the insolvency process. Let’s take a look at some of their most important responsibilities.

As pandemic-related government aid and loan deferral programs begin to wind down, the latest MNP Consumer Debt Index finds the number of Canadians hovering close to financial insolvency has reached a five-year high.

If you’re like most people, you (at least try to) go to the doctor every year for your annual physical. Why? Because a clean bill of health buys you peace of mind — and the earlier you can catch potential problems like high blood pressure...

Nobody sets out to have their lives turned upside down, get into debt or deal with the unimaginable stress it causes. But that doesn’t mean most of these situations aren’t preventable. Here are four critical mental shifts which can help turn...

There are numerous reasons why some people choose to take on a project themselves rather then engage another person or company. These can range from an interest in learning a new skill, to a passion for doing the work themselves, pride and shame of asking...

Four pitfalls to avoid so your summer fun doesn’t end with the chill of a large bill you can’t afford.

I have a unique perspective on income tax debt among my peers, owing largely to my six years at the Canada Revenue Agency (CRA) prior to becoming a Licensed Insolvency Trustee (LIT). The experience has helped me understand common strategies and behaviors...

All debt can be overwhelming, but there’s no creditor quite as frightening as the CRA. The bottom line is if you have not filed taxes for several years or your tax debt is severely delinquent, you’re on CRA’s radar.