MNP Debt Blog

MNP LTD Trustee Gord Neudorf was interviewed byWinnipeg Metro to discuss insolvency filings in Manitoba and how they compare to those of Saskatchewan and Alberta.

As of May 20, 2016, Saskatchewan had the highest delinquency rate in the country. Given how significantly Saskatchewan and Alberta have been hit by the oil slump, this doesn’t necessarily come as a surprise to financial strategists and advisors throughout...

As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses....

Given the current economic downturn in Alberta, it's not surprising to learn that insolvencies are at a significant upturn in the province. MNP's Donna Carson was on hand to speak with the Globe and Mail about the financial distress many in the province...

MNP LTD Trustee Ian Schofield was interviewed by Discover MooseJaw to discuss the increase in insolvencies in Saskatchewan. The original article was originally posted online at Discover MooseJaw on April 5, 2016.

The data is in, but it’s not necessarily surprising. Insolvencies are on the rise as many Canadians grapple with the burden of unmanageable debt.

With a weakened loonie and job losses on the rise, many are struggling to keep up with monthly expenses. In fact, according to a poll conducted with MNP, nearly 50% of Canadians are within just $200 of not being able to meet their financial obligations....

As Canadians struggle in a weakened economy, thousands are starting to bend under the weight of trying to make it from one financial obligation to the next. And what are we relying on to get us through the day-to-day expenses? Debt.

With a continual downturn in the price of oil, a barrage of layoffs and a weakened Canadian dollar, making it from one debt payment to the next has become a significant challenge.

A debt survey conducted by MNP found that nearly half of Canadians are within just $200 of not being able to keep up with their monthly financial obligations.