MNP Debt Blog

As Licensed Insolvency Trustees, we often see the worst-case scenario when it comes to personal finances. Most people are at the end of their rope by the time they reach my office – having struggled with every possible fix for their debt situations and...

After nearly a decade of historic lows, the Bank of Canada began increasing its key overnight interest rate in July 2017 in response to improving employment figures and a growing economy.

Regret is one of the most common refrains Licensed Insolvency Trustees hear when we talk to clients about their debt. They ask questions like, “how did I get into this mess?” Or, “why did I make that decision?”

As baby boomers continue to age, they face a growing number of questions about how they’re going to manage in the last phase of their lives.

I recently worked with a retired and widowed client who came to MNP inquiring about possible debt solutions. He owed more than $120,000 on various credit cards and lines of credit which he was frightened he could never pay back in his lifetime.

According to legend, Saint Valentine of Rome restored sight to his jailer’s blind daughter on the evening before his execution. The following morning, he wrote her a farewell letter and signed it ‘Your Valentine’ – kicking off a centuries-long tradition...

Another new year is upon us, and with that comes a fresh batch of resolutions.

​Of course, this is a trick question… Everyone needs an emergency fund.

The Bank of Canada has raised interest rates five times since July 2017 after going nearly a decade without an increase.

As humans, we’re pretty good at ignoring problems we can’t or don’t want to deal with, hoping they’ll eventually go away.