With rising interest rates and high borrowing costs remaining a challenge for households, Atlantic Canadians are feeling more pessimistic about their debt than any other province, according to the latest MNP Consumer Debt Index.

Amid rising interest rates and a challenging cost of living households, the proportion of Manitoba and Saskatchewan residents who report being close to insolvency has crept up since last quarter, according to the latest MNP Consumer Debt Index.

Student loan debt has become a significant cause of financial burden on many post-secondary students in Canada. As the cost of education continues to rise, many students leave university or college carrying the burden of debt and the repayment process.

Let’s review what a Consumer Proposal is, as well as the pros and cons of filing a Proposal, to help you determine if it’s the right solution for your unique situation.

If you are experiencing overwhelming debt loads, severely reduced income, unexpected job loss, or depleted savings, you may be wondering if Bankruptcy is right for you.

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.

Let’s explore some of the stigmas around Bankruptcy, why you shouldn’t be afraid of this process, and how a Licensed Insolvency Trustee (LIT) can help you on your journey toward a debt-free future.

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.