Nobody enjoys being delinquent on their bills. But unfortunately, it’s not always possible to make ends meet.

Home equity lines of credit (HELOCs) have emerged as one of the biggest contributors to the growth of household debt in Canada, particularly in markets where real estate values have surged over the last decade. The latest data from the Office of Superintendent of Financial Institutions (OSFI) shows that the balance of loans secured by residential real estate has reached another record high of 269 billion in June. .

The collective pressures of increased interest rates, an uptick in consumer debt over the holidays, a stagnating economy and persistently high cost of living are making it difficult for Canadians to repay their debts.

If bankruptcy is right for you, the professionals at MNP will guide you through the entire process and put an end to your debt problems for good.

Declaring bankruptcy is not an easy decision to make. It’s important that each individual seeking out the best debt solution to their unique situation have a full understanding of exactly what the requirements and consequences of filing for bankruptcy are.

Every purchase we make is an attempt to solve a problem. When we’re hungry, we buy food. When our car breaks down, we look for a new one.

Credit today is more accessible than ever. On top of that are endless advertising and marketing initiatives that would have us believe lenders are our friends – here to help us out in a pinch.

Debt is stressful at the best of times. But when it reaches a point where you can no longer pay your bills, it can be downright overwhelming.

If you’re struggling to pay your debts, you may miss payments on your loans and credit cards. When this happens, a debt collector will likely contact you to recover the money you owe. If this sounds familiar, you could be putting yourself at risk of fake creditors taking advantage of you.

People often come to me after months – sometimes even years of struggling with debt