MNP Debt Blog

I doubt that mental health was on the minds of legislators when the Bankruptcy and Insolvency Act (BIA) came into effect in 1950.

Helping people is what we do at MNP Debt. Every day, we work to provide tailored and effective debt solution that eliminate our clients’ stress, improve their relationships and provide hope for a better financial future.

Remember Simon and Molly? Last month they completed their first bankruptcy counselling session.

If you’re struggling to control your debt, you know the vicious cycle it can become.

If you’re struggling to pay down your credit card debt, it may be tempting to apply for another (ideally lower rate) card which you can transfer your balance to or take advantage of special promotions offered by your bank.

When an individual or couple files a consumer proposal or an assignment in bankruptcy, the Bankruptcy and Insolvency Act requires the completion of two financial counselling sessions with a Registered Insolvency Counsellor.

As Canadians struggle with record-high consumer debt, employers have plenty of reason to worry.

People often come to me after months – sometimes even years of struggling with debt

If you listen carefully, you can already hear the subtle sound of sleigh bells off in the distance – just above the cheerful voices of tellers upselling stocking stuffers at the till.

In today’s constantly shifting economic landscape, many Canadian households are struggling to keep up from one payment to the next – let alone keep up with an ever-increasing cost of living.