Now in its eleventh wave, the MNP Consumer Debt Index has dropped five points since September (96 points), matching the lowest ever recorded back in March 2018.

A survey conducted by Ipsos on behalf of MNP LTD helps identify some Canadians’ costly money mistakes which could be contributing to the mounting consumer debt challenges across the country.

Provided under the Bankruptcy and Insolvency Act, Bankruptcy law aims to balance your need for a financial fresh start with your creditors’ right to recover a portion of the money they’re owed.

That’s a good question, and one that might produce some surprising answers. There’s no one size fits all solution to debt.

Canadians are facing a lot of uncertainty right now. With a sudden economic downturn and many businesses shuttered due to social distancing measures, millions have found themselves out of work and unable to pay their debts.

Do you have student loans that were not erased by a bankruptcy or consumer proposal? Most likely, you filed before you had been out of school for seven years.

When individuals can no longer service their debt, it creates significant issues for both the borrower — who may find themselves in an ever-worsening cycle of debt — and their lender(s) who are having trouble recovering the money owed to them.

The COVID-19 pandemic has shut down businesses, ravaged the global economy and caused significant job losses across the country.

MNP released its most recent Consumer Debt Index just as the COVID-19 pandemic started gaining a foothold in Canada. The data — which Ipsos collected over the two weeks preceding the indefinite shutdown of non-essential businesses and millions of resulting job losses — revealed households were already feeling more pessimistic about their debts than at any point in the survey’s four-year history.

A new poll by Ipsos carried out on behalf of MNP LTD has found that more than half (56%) of British Columbians are still experiencing disruption to either their own work situation or that of someone else in their household in the form of lay-offs, reduced pay, or fewer working hours – an increase of 5 points since June, and the highest proportion compared to the other provinces. Over the past few months, various financial relief measures from...