Ontarians who find themselves in serious financial trouble could be digging themselves into a deeper hole by not seeking help when they need it. A new survey conducted by Ipsos on behalf of MNP LTD, shows almost half of Ontarians (45%) say they would be embarrassed to get help if their financial situation was bad enough to consider Bankruptcy. One-third (32%) of survey respondents say the stigma surrounding Bankruptcy prevents them from seeking help....

According to a recent Ipsos poll conducted by MNP LTD., Ontarians’ pocketbooks are continuing to get lighter as a result of recent interest rate increases.

The number of consumer insolvencies per thousand residents in Ottawa, aged 18 years or above, hit 3.8 in 2018 – the highest level since 2013, when it also sat at 3.8.

Despite the Bank of Canada stating it will keep interest rates stable until next year, more than half (51%) of Quebec residents say they are more concerned about their ability to repay debts than they used to be.

Nobody applies for a credit card, loan, mortgage or car payment with the intention of not repaying those debts.

Separation from your partner is one of the many causes of financial distress. Not all couples may be aware of the fact that when you sign a contract togeth​er, you are responsible to repay all the money borrowed.

Come through the other side of a Consumer Proposal or bankruptcy and need to build credit? Here’s some tips!

Underscoring financial vulnerabilities in Nova Scotia when it comes to consumer debt, the latest official figures from the Office of the Superintendent of Bankruptcy (OSB) continue to reinforce the mounting strain on many households in the province. The number of Nova Scotians who filed for insolvency in the second quarter of 2019 was up 16 per cent compared to the first quarter and up 3.6 per cent compared to the same quarter of last year.

Quebec residents are starting to feel better about their consumer debt situation and personal finances than just a few months ago, however many are still struggling, according to the latest MNP Consumer Debt Index.

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.