If you’re struggling with your finances and heading toward bankruptcy, you may think it makes sense to sell or transfer some of your assets.

The Federal Government rolled out the Canada Emergency Response Benefit (CERB) to support those who were unable to work during the COVID-19 pandemic — and many people signed up quickly before the eligibility requirements were complete.

In recent years, Canadians have grown accustomed to low interest rates. The Bank of Canada used low interest rates to encourage spending and spur economic activity during the pandemic. However, 2022 marked a sharp and painful turn for many. To combat rising inflation, the Bank of Canada raised interest rates bringing them to their highest level since 2008. These increases in inflation and interest rates have put enormous strain on many Canadians....

The MNP Consumer Debt Index celebrated its fifth anniversary in July 2023. The information we’ve collected over 25 quarterly surveys paints a detailed picture of how Canadians feel about their finances and individual debt situations.

The road to a financial fresh start begins with gaining insight into your current financial state. MNP has built various easy-to-use and accessible tools to help you understand your finances and determine the best debt relief options for you.

Bankruptcy can be an intimidating proposition, but it doesn’t have to be scary or complicated. Living with financial stress has many negative impacts, on your wallet, your mental health, and on your ability to plan for the future.

Getting out of debt requires a strategic plan and unwavering commitment. Relying on luck may not get you far.

Money can make or break your relationship. Managing your finances with your partner or spouse can guarantee a debt-free life and relationship.

You might be looking for a solution to your financial stress, and you could have heard that Bankruptcy will help you achieve a fresh financial start — but you may have questions about the process. One of the most common among these is how long a Bankruptcy lasts and how it impacts your credit score.

We’ve summarized the protections the BIA provides and the three major players in the insolvency system to help you make an informed decision about your next step forward.