The CRA has called to inform you of a balance you owe. What’s your next line of action?

With the holiday season fast approaching, now is a good time for a finance refresher to avoid over-spending in December.

You have probably heard, more than once by now, that not all debt is created equal. Some types of debt can actually be beneficial, where others can put your personal and family well-being at risk.

Until March 2020, there was no such thing as a virtual insolvency proceeding, unless you lived in a remote area. If you wanted to file a Bankruptcy or Consumer Proposal, you had to meet with a Licensed Insolvency Trustee in person.

The terminology surrounding debt problems and solutions can be confusing. How much debt is “overwhelming” debt? What does it mean to be insolvent — does it simply mean owing too much money to too many credit accounts? And what is the correct, “official” term for the professional who administers bankruptcies and consumer proposals?

Knowing your credit profile before you meet with your financial provider can do a lot to help you address any risks or gaps you may want to attend to, and increase your chances of success in the application process.

As another Bank of Canada interest rate announcement looms, a recent poll conducted by Ipsos on behalf of MNP LTD finds that eight in 10 Quebecers (82%, +2pts) agree they will be more careful with how they spend their money as borrowing costs rise, increasing two points from last quarter.

As another Bank of Canada interest rate announcement looms, a recent poll conducted by Ipsos on behalf of MNP LTD finds seven in 10 Atlantic Canadians (71%) are concerned about the impact of rising interest rates on their financial situation.

As another Bank of Canada interest rate announcement looms, a recent poll conducted by Ipsos on behalf of MNP LTD finds seven in 10 Atlantic Canadians (71%) are concerned about the impact of rising interest rates on their financial situation.

As another Bank of Canada interest rate announcement looms, a recent poll conducted by Ipsos on behalf of MNP LTD finds that six in 10 Ontarians (59%, +1pt) say they’re concerned about the impact of rising interest rates on their financial situation.