MNP Debt Blog

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.

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.

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.

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.

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.

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....

As interest rates move upwards and the cost of living remains a challenge for households, the proportion of Canadians who report being insolvent has reached an all-time high, according to the latest MNP Consumer Debt Index.

With rising interest rates and the cost of living remaining a challenge for B.C. households, the proportion who report being close to insolvency has spiked.

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