You likely know what Bankruptcy is and what it can do for people suffering with unmanageable debt. But you may not understand how it works or what’s required of you. Maybe you feel intimidated by the legal jargon, concerns about losing everything you own, or the long-term impacts on your credit.

Do you ever feel like no matter how much you streamline your budget, cut back on discretionary spending, and avoid impulse purchases — you just can’t seem to get ahead? The issue may not be your budget.

This is another edition of the MNP 3 Minute Debt Break podcast. In this installment, we discuss the differences between Consumer Proposals and Bankruptcies.

Debt can feel overwhelming, and it can be difficult to keep track of everything. Especially as our lives get busier and we have more distractions grabbing at our attention.

If you’re struggling to maintain minimum monthly debt payments or don’t see yourself ever getting out of debt on your own, you may consider filing a Bankruptcy. It is one option… but it’s not the FIRST option a Licensed Insolvency Trustee or LIT will recommend. Nor is it always the best option for dealing with your debt.

The holidays often have a snowball effect: First is the struggle of deciding who to buy for, what to buy and how you’re going to afford it all. Then comes the stress of shopping itself. Finally, there’s the planning for how to deal with the all-too predictable debt.

Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.

The global crisis surrounding COVID-19 has delivered an unprecedented financial shock to Albertans at a time when personal finances are already a source of stress for many.

In the midst of a pandemic, taking care of yourself and your personal health is of the utmost importance. However, this doesn't mean you can abandon your financial health.