In Canada, creditors assign credit ratings on a scale of 1 to 9, with 1 meaning your payments are being made on time and 9 meaning your debts are in collection or considered uncollectible.

Dealing with a personal financial crisis is stressful. Adding to the confusion are the numerous debt settlement companies and financial institutions offering different approaches for resolving your debt issues.

This is the year you are going to make financial health a priority. You are going to gain control of your finances, dig yourself out of debt, and eliminate stress from your life. And every day, you resolve that you will start that process…tomorrow.

With a few exceptions, most banks and lessors will agree to your keeping the vehicle in a bankruptcy and continuing on with the payments so long as your payment history has been good and your payments are currently up-to-date.

MNP LTD Trustee Zaki Alam was interviewed by CTV News Edmonton to discuss debt loads. Throughout the interview, Zaki discussed the significant amount of consumer debt across Canada, with Alberta having the highest average

Currently, if you ended your studies less than 10 years before you start a bankruptcy, the bankruptcy will not release you from your obligation to repay the student loans.

Under the new Family Law Act of BC, I am now considered a common-law spouse. Am I responsible for my common-law spouse’s debts?

If I apply for bankruptcy, will that include whatever I owe the government as well? Such as Motor Vehicle?

Does a bankrupt get to keep their RRSPs regardless of the amount, in a bankruptcy?

Recently, a number of our clients have been rather shocked to find out that debt they thought was unsecured was, in fact, secured on their home.