MNP Debt Blog

With the holidays just around the corner, many Canadians are starting their Christmas shopping, ready to shell out hundreds of dollars to surprise loved ones with the perfect gift.

While Black Friday and Cyber Monday used to be predominantly American shopping events, Canadian consumers and retailers have gotten right on board in recent years.

Bankruptcy is a process that releases you from most, if not all of your debt. In other words, bankruptcy lets you erase your debts and put an end to your indebtedness within a few months.

Most people with an addiction to spending do not realize the extent of their spending until their credit cards or lines of credit are maxed out and bill collectors start calling. A spending addiction can begin as early as childhood and may be caused...

November 15-21, 2015 is National Addictions Awareness Week (NAAW) in Canada. Every year, organizations across the country observe this important week and do what they can to help those who may be struggling with addictions, while raising awareness and...

Only a government licensed Trustee in Bankruptcy can file a bankruptcy on your behalf in Canada. As part of this process, your Trustee will first conduct a comprehensive assessment of your financial situation to determine if a bankruptcy is your best...

The first step towards filing for bankruptcy, is to call and make an appointment with a licensed Trustee. During this appointment, you will be asked to provide information at this appointment which will allow your Trustee to make an assessment of your...

Your credit score tells potential lenders a lot about your spending behaviors and ability to manage and / or pay back your debts. When you apply for a credit card, mortgage, student loan, auto loan or any other line of credit, this number will help the...

Canada’s debt ratio is at the highest debt income ration we’ve ever had. For every dollar we currently make, we are spending approximately $1.65 on credit.

When most people think of the term surplus income they think of the amount that they have available to spend after deducting their discretionary (i.e. entertainment, etc.) and non-discretionary (i.e. child support, etc.) expenses.