MNP 3 Minute Debt Break

Going through a divorce or separation can be emotionally and financially challenging, and one of the most complex aspects is dealing with debt. Just as assets are divided, debts must be looked at too. The division of debt can raise lots of questions about responsibility, especially when one or both spouses struggle to pay it off on their own.

Borrowing money often gets a bad rap, but in actuality… it’s not always a bad thing. Sometimes life throws unexpected expenses your way, or maybe you need extra cash to invest in your future. In these situations, borrowing can be a smart financial decision... if you’re careful.

Près de la moitié des Canadiens se trouvent à seulement 200 $ de ne pas pouvoir couvrir leurs dépenses mensuelles. Si vous ressentez une pression financière, vous n'êtes pas seul. Mais que faire lorsque des coûts imprévus vous poussent au bord du gouffre? Si vous luttez contre des dettes mais souhaitez éviter les conséquences à long terme d'une faillite, une proposition de consommateur pourrait êt...

Almost half of all Canadians are just $200 away from not being able to cover their monthly expenses. If you're feeling the financial squeeze, you're not alone. But what happens when unexpected costs push you over the edge? If you're grappling with debt but want to avoid the long-term effects of bankruptcy, a Consumer Proposal might be your solution.

The MNP Consumer Debt Index has dropped to 85 points, down six points from the previous quarter. Conducted quarterly by Ipsos on behalf of MNP Limited, the Consumer Debt Index tracks Canadians’ attitudes about their debt and ability to meet their monthly payment obligations.

De nombreux Canadiens entrent dans le mariage avec un fardeau de dettes important. Étant l’un des pays les plus endettés au monde, cela n’est pas surprenant.

Many Canadians enter marriage with a significant debt burden. As one of the most indebted countries globally, this isn't surprising.

Debt can be a heavy burden, and exploring a consumer proposal can feel daunting. It's natural to seek information online or talk to loved ones during this stressful time.

In today’s digital era, the convenience of obtaining anything with a tap of your finger is undeniable. However, these luxuries can quickly add up, significantly impacting your bank account.

Dans l'ère numérique d'aujourd'hui, la simplicité avec laquelle on peut obtenir tout ce que l'on veut d'un simple toucher du doigt est indéniable. Toutefois, ces luxes peuvent rapidement s'accumuler et avoir un impact significatif sur votre compte bancaire.

Canadians are facing a cost-of-living crisis. With rampant inflation, many have taken on more debt just to make ends meet. With interest rates still high, some households might be considering declaring Bankruptcy for the first, second, or even a third time.

Le coût des produits de consommation courante est en hausse depuis quelques années, ce qui entraîne une augmentation du prix de la nourriture, de l'essence, des vêtements et d'autres produits essentiels dont les Canadiens ont besoin. Selon le calculateur d'inflation de la Banque du Canada, les coûts ont augmenté de 15 % entre 2020 et 2023.

The cost of daily goods has been rising over the past few years, increasing the price of food, gas, clothing, and other essential items Canadians need. According to the Bank of Canada’s Inflation Calculator, costs have increased by 15 percent from 2020 to 2023. This means an item that used to be $1.00 now costs $1.15. If your income hasn’t increased by 15 percent in the same period, you might be f...

Nous avons tous été dans cette situation. Vous utilisez votre carte de crédit ou signez sur la ligne pointillée pour un achat que vous avez tant désiré. Cependant, après quelques instants, jours, voire même une semaine, un sentiment de malaise s'installe. Peut-être que l'achat ne correspond pas tout à fait à vos attentes, que le budget n'est pas aussi flexible que prévu, ou que vous estimez que l'...

We've all been there. You swipe your credit card or sign on the dotted line for a purchase you've been dreaming about. But then, a minute, a day, or even a week later, that sinking feeling sets in. Maybe the purchase isn't quite what you expected, the budget doesn't stretch that far, or you think the money could have been better spent elsewhere.

The latest MNP Consumer Debt Index has rebounded significantly to 91 points — an eight-point jump since last quarter after a full year of low scores.

Managing personal finances in Canada's current economic landscape is a discussion most households are having. With high levels of household debt, soaring inflation, and climbing interest rates, understanding and navigating personal finance has become crucial for individuals and families alike.

Imaginez recevoir un appel avec le message, « Nous sommes l’Agence du revenu du Canada. Nous avons évalué votre déclaration de revenus que vous n’avez pas produite, et vous avez un solde important à payer ». Ce scénario semble-t-il trop familier ? C’est une situation dans laquelle se retrouvent souvent de nombreux Canadiens, souvent en raison d’un oubli ou d’une confusion concernant leurs obligati...

Imagine receiving a call with the message, "This is the Canada Revenue Agency calling. We assessed your tax return that you didn’t file, and you have a significant balance owing." Does this scenario seem all too familiar? It's a situation many Canadians find themselves in, often due to oversight or confusion regarding tax obligations.

Owing the government money can be VERY intimidating. It’s a topic that resonates with many Canadians. How to deal with debt owed to the Canada Revenue Agency, especially given the CRA's broad powers to collect what's owed. We’ll dive into what those powers entail, how you can navigate the situation, and what options are available if you find yourself overwhelmed.

Each province in Canada has its unique statute of limitations governing how long a creditor has to take legal action against you for debt collection. Taking Alberta as an example, under the Limitations Act, a creditor has two key time frames to initiate legal proceedings: within two years from when they first became aware of the debt or ten years after the claim arose, depending on which period en...

Avoir une dette envers le gouvernement peut être TRÈS intimidant. C'est un sujet qui résonne avec bon nombre de Canadiens. Comment aborder les obligations envers l'Agence du revenu du Canada, surtout compte tenu des pouvoirs étendus de l'ARC pour recouvrer les sommes dues ? Nous allons analyser en détail les implications de ces pouvoirs, comment naviguer dans cette situation et quelles alternative...

Canadians’ current debt perception has reached an all time low on MNPs Consumer Debt index. Conducted quarterly by Ipsos on behalf of MNP Limited, the Consumer Debt Index tracks Canadians’ attitudes about their debt and ability to meet their monthly payment obligations. And last month, the Index has dropped to 83 points.

Credit scores are important when it comes to financial institutions deciding if they'll lend you money or extend your credit. Think of your credit score as a financial reputation that follows you around, telling banks and lenders if you're good with money. Your credit score reflects your ability to meet certain financial requirements such as qualifying for or paying back a loan or getting better i...

Les cotes de crédit sont importantes lorsque les institutions financières décident de vous prêter de l'argent ou de vous accorder un crédit. Considérez votre cote de crédit comme une réputation financière qui vous suit partout, indiquant aux banques et aux prêteurs si vous avez de bonnes relations avec l'argent. Votre cote de crédit reflète votre capacité à répondre à certaines exigences financièr...