MNP Debt Blog

Early in July, the Bank of Canada’s first interest-rate hike in seven years set in motion a complex unwinding of a near-decade-long era of easy money via consumer debt.

For thousands of Canadians across the country, it’s no secret to hear that our national economy is facing an uncertain future.

With economists predicting another increase before the year is out, Canadians should begin bracing themselves for some significant changes now before it’s too late.

Voluntary deposit is a judicial process used in Québec to restructure a debt repayment. It is legislated in the Québec Code of Civil Procedure.

With banks offering consumers a record amount of credit in recent years, Canadian households will face tough times ahead if they aren’t able to reduce their debt loads.

After a near decade long streak of low borrowing costs and easy credit from banks, Canadians are carrying record levels of debt.

Increased interest rates are supposed to signal an improving economy.

Debt that you owe and repay to your creditors consists of two parts. The first part is the money you originally borrowed. The other part is the interest (and sometimes fees).

A new survey released by MNP LTD finds that Ontarians are concerned about the uncertainty of a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.