MNP Debt Blog

People fear the word “bankruptcy” for many different reasons. Often people worry about the effects a bankruptcy may have on their credit rating, the effect on their family or on co-signors and the societal perceptions.

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...

If you're like most Canadians today, you might find you're struggling to keep up with the day-to-day cost of living. With a weakened economy and unemployment on the rise, many people across the country have found themselves relying on debt to make it...

One of the goals of the Bankruptcy Assistance Program (BAP), is to ensure low income consumer debtors who need a reduction in the typical fees of a Licensed Insolvency Trustee (“Trustee”) in order to file a bankruptcy can access the BAP, which is administered...

Every business is going to face challenging times, it is an unfortunate fact of life. The following discussion provides a general overview of issues to consider and list of options which may be available to you if you are trying to navigate through corporate...

As bankruptcies are being filed in record numbers by both consumers and businesses alike, many are wondering how to protect their assets.

Recent studies indicate that Canadian debt levels are rising across the country. In fact, research has shown that at one point or other, up to half of all workers experience stress associated with financial problems and that stress can affect their health,...

The purpose of this article is to give you some idea of what your rights are in a bankruptcy when you are a creditor and aren’t satisfied with some aspect of the process.

It is said that the only an egg is better when it is broken. When a material financial crisis results in a company being broken, its ongoing viability needs to be immediately assessed to determine if the business is insolvent.

MNP's TAKE: As the price of oil continues to drag and Canadians from coast to coast face increased unemployment, many are turning to credit or high risk (which also means high interest) loans to carry them through what they hope to be a short-lived financial...