MNP Debt

WIN a $100 Ultimate Dining Card To enter: Tell us Have you ever celebrated Valentine's Day on a budget? What were some of your budget-friendly ideas? Want to be entered twice? Like this post along with posting your response to double your chances to win! ... Note: Contest is open to all Canadian residents (excluding Quebec). Deadline for entry is February 12, 2021 at 11:59 p.m. local time. Winning response will be selected through a random draw. Full contest rules and regulations available by visiting https://mnpdebt.ca/en/resources/legal.

Low interest rates may be providing unwarranted comfort. Some risk being lulled into a false sense of security that will put them in a debt trap. When individuals experiencing financial turmoil try to manage it by taking on additional debt, the results can be disastrous. They end up trying to fill a hole by digging another one. #MNPcdi Learn more: MNPdebt.ca/CDI

MNP Licensed Insolvency Trustees - Laura Ryback, Randy Kobbert and John Athanasiou reflect on the impacts of financial well-being on mental health in this 4 part series for #BellLetsTalk Day. Book a free consultation today to learn more: www.mnpdebt.ca

With the 11th edition of Bell Let’s Talk Day upon us on Thursday, January 28, there’s no better time to share your struggles and what you’ve done to manage or overcome them. We can all help and learn from each other. #BellLetsTalk #DefeatDebt #MNPDebt

CONSUMER PROPOSAL | Licensed Insolvency Trustees are the only federally regulated debt professionals who can provide expertise on all debt relief options and ensure those struggling financially have access to the complete range of solutions available. To learn more, please visit MNPdebt.ca/CDI #MNPcdi

"While some are fortunate enough to be able to continue working in their present jobs, but from home, others continue to struggle with financial uncertainty and not knowing whether their job will still be around after the pandemic, Grant Bazian, president at MNP Ltd., said in a release Tuesday." Source: BNN Bloomberg

Half of Quebecers are $200 or less from insolvency at month-end (+10pts since June, largest jump compared to other provinces). #MNPcdi

There are lots of ways to celebrate those #seniors who have helped build our country. Being debt free should be one of them #DefeatDebt

Together, Jeff and Amanda bring home a combined household income of $63,100. But in many ways, they are still playing catch-up due to some older financial decisions. We asked them some frank questions about money, in an effort to really start a dialogue about how Canadian families are doing financially. Here's what Jeff and Amanda had to say: Source: CBC News

Happy #Thanksgiving from everyone at #MNPDebt! #DefeatDebt and be thankful as you work towards a stronger financial future.

By the time you get to my age, you feel like your options have all run out. If you’ve found yourself overcome by debt due to living on a fixed income, MNP can help. Visit www.mnpdebt.ca/lifehappens for more information #LifeHappens

Whether you struggle with debt or depression, there's never shame in reaching out for help. #WorldMentalHealthDay

The Bank of Canada says it has no plans to change its benchmark interest rate until inflation gets back to two per cent and stays there, something it says isn't likely to happen until 2023. Read more:

WIN a $100 Amazon Gift Card To enter: 1. Tell us Do you think gratitude is an important part of sticking to a budget? Why or why not? ... 2. Like this post. 3. Subscribe to our newsletter: www.MNPdebt.ca/Newsletter Note: Contest is open to all Canadian residents (excluding Quebec). Deadline for entry is October 31, 2020 at 11:59 p.m. local time. Winning response will be selected through a random draw. Full contest rules and regulations available by visiting https://mnpdebt.ca/en/resources/legal.

Today is #InternationalPodcastDay and MNP Debt is a proud podcaster. To listen to all our episodes and view other streaming options, please visit: www.mnpdebt.ca/podcast #MNPdebtbreak #Podcasts

"The revamped Employment Insurance program and other government benefits for businesses should also ensure the economy keeps ticking over and most Canadians are not immediately in danger of losing their homes." Source: Financial Post

At MNP, we stand in solidarity with Indigenous nations across the country. In addition to wearing an orange shirt on September 30, 2020, we are taking time to l...isten to residential school survivor's stories, learn about the generational effects this system had, and commit to a path of healing and reconciliation. #everychildmatters #orangeshirtday https://bit.ly/2Sf93id

If your debt payments have become overwhelming, Consolidation can be the answer. There are numerous ways to consolidate your debt, but generally it involves lumping most or all your balances together into a single affordable payment. Listen to our latest episode of MNP 3 Minute Debt Break Podcasts to learn about consolidation options that come with their own benefits and also some potential risks. #MNPDebtBreak #Podcast #DefeatDebt

The Canada Emergency Response Benefit (CERB) has been a welcome respite for Canadians struggling with the economic fallout of COVID-19. However, with millions of individuals having already maxed out on the benefits and all payments looking to conclude by the end of 2020, households need to consider how they will cope in a post CERB economy. #DefeatDebt #CERB #COVID19 https://mnpdebt.ca//how-you-can-prepare-for-life-after-cerb

Recent studies have suggested as many as half of Canadians are retiring in debt. And while most of these retirees are carrying mortgage debt, others are carrying vehicle financing, lines of credit, and credit card debt. Perhaps this shouldn’t be surprising given how normalized and even encouraged debt has become. #DefeatDebt

You likely know what Bankruptcy is and what it can do for people suffering with unmanageable debt. But you may not understand how it works or what’s required of you. Maybe you feel intimidated by the legal jargon, concerns about losing everything you own, or the long-term impacts on your credit. #DefeatDebt

Reduced hours, job loss and bankrupt employers it’s ‘not a happy time’ for CERB recipients as benefit winds down. Read more:

It's all about options. Find out what your best option can be. Listen to our latest episode of MNP 3 Minute Debt Break Podcasts here: https://mnpdebt.ca//resources/mnp/your-best-option-podcast

If you’re struggling to maintain minimum monthly debt payments or don’t see yourself ever getting out of debt on your own, you may consider filing a Bankruptcy. It is one option but it’s not the FIRST option a Licensed Insolvency Trustee or LIT will recommend. Nor is it always the best option for dealing with your debt. In fact, Bankruptcy should be your LAST course of action after exhausting other available avenues. Find out more in our latest episode of MNP 3 Minute Debt Break Podcasts: https://mnpdebt.ca//resources/mnp/your-best-option-podcast #DefeatDebt #MNPDebtBreak #Podcasts

Debt can feel overwhelming, and it can be difficult to keep track of everything. Especially as our lives get busier and we have more distractions grabbing at our attention. But it’s not impossible. Just a few small changes can add up quickly and help you get the upper hand. Following are our top 10 quick tips for getting organized to defeat your debt. #DefeatDebt

Congratulations to our newest Licensed Insolvency Trustee, Lindsay Burchill. She services our Calgary locations and we fortunate to have her on board. If you wish to contact Lindsay, please visit: https://mnpdebt.ca/en/personnel/lindsay-burchill

CONSOLIDATING | Licensed Insolvency Trustees are the only federally regulated debt professionals who can provide expertise on all debt relief options and ensure those struggling financially have access to the complete range of solutions available. To learn more, please visit MNPdebt.ca/CDI #MNPcdi

To subscribe to our MNP Consumer Debt Index updates, please visit the link below: #MNPcdi

When looking at lending to a self-employed individual, it is no longer enough to see a copy of their tax returns or notices of assessment. Recent court cases have clarified Canada Revenue Agency (CRA) debts, including payroll and GST/HST remittances, are deemed trust debts and these can have a super priority over the lender’s interest in the property. #DefeatDebt

The holidays often have a snowball effect: First is the struggle of deciding who to buy for, what to buy and how you’re going to afford it all. Then comes the stress of shopping itself. Finally, there’s the planning for how to deal with the all-too predictable debt. #DefeatDebt

Do you ever feel like no matter how much you streamline your budget, cut back on discretionary spending, and avoid impulse purchases you just can’t seem to get ahead? The issue may not be your budget. Rather, a few sneaky inefficiencies around the house could be robbing you of anywhere from $1,000 to $10,000 every year. #DebtFree

As the province enters its seventh month of economic disruption, the pandemic is spotlighting inequalities between the well-off and those dealing with job loss, debt, eviction, and food insecurity. The latest MNP Consumer Debt Index points to debt trouble in Ontario, particularly as payment deferrals and government emergency aid programs change or wind down.#MNPcdi

The bills are piling up. You’re constantly getting calls from creditors. You borrow money from friends and family but it doesn’t seem to be helping. You know that you need to do something, but what? Is bankruptcy the only option? No. There are several alternatives. One option is to file a Consumer Proposal. There are multiple benefits of filing for a consumer proposal rather than a bankruptcy. Listen to our latest episode of MNP 3 Minute Debt Break Podcasts to learn more. #MNPDebtBreak #Podcasts #DebtFree

Life Happens. It's true. But never forget, you're not alone. Every day our Licensed Insolvency Trustees work with people who have experienced debt problems in every way imaginable. This is their stories about situations that got out of control leaving clients feeling scared, alone and exhausted. But for every story, there was always a solution, hope, and most importantly, a chance to start over again. #LifeHappens

A growing number of Albertans reported more financial trouble as the province entered its seventh month of economic disruption amid the COVID-19 pandemic.#MNPcdi

LIQUIDATING | Licensed Insolvency Trustees are the only federally regulated debt professionals who can provide expertise on all debt relief options and ensure those struggling financially have access to the complete range of solutions available. To learn more, please visit MNPdebt.ca/CDI #MNPcdi

For every debt problem our clients have faced, there was always a solution, hope, and a chance to start over again. #LifeHappens

REFINANCING | Licensed Insolvency Trustees are the only federally regulated debt professionals who can provide expertise on all debt relief options and ensure those struggling financially have access to the complete range of solutions available. To learn more, please visit MNPdebt.ca/CDI #MNPcdi

Your credit score can influence your ability to access new credit, rent housing, or even qualify for some jobs. But it has no bearing on whether a Licensed Insolvency Trustee will help you or whether you qualify for a Consumer Proposal or Bankruptcy. Learn more:

In a new Ipsos poll commissioned by MNP LTD, four in 10 Canadians (43%) said they or someone in their household are still dealing with COVID-19-related employment disruption in the form of job loss, reduced working hours, or cutbacks in pay. #MNPcdi #CERB #COVID19 Read more:

Four in Ten (43%) Canadians Still Experiencing COVID-Related Disruption to their Employment, Despite Improving Jobs Figures. #MNPcdi #CERB #COVID19 Source: Street Insider

If you’ve found yourself overcome by debt due to your student loans, MNP can help. We have the answers to your questions and can take you through the steps of a bankruptcy or consumer proposal to see if it is the right solution for you. Contact us for a free, no obligation, confidential consultation to find a Life-Changing Debt Solution that fits your unique situation. #LifeHappens #DefeatDebt

Should I use a line of credit to pay off my debts? hat’s a good question, and one that might produce some surprising answers. There’s no one size fits all solution to debt. You need to consider all your options before you take out a consolidation loan or max out your line of credit to pay off your debts. You also need to be clear on your short- and long-term financial goals. #DefeatDebt Read more:

Amidst all the uncertainty the pandemic has caused, one thing is certain: the underlying debt problems faced by Canadians have not gone away." A new IPSOS poll conducted on behalf of MNP LTD. has found that four in 10 (43%) Canadians still experiencing COVID-related disruption to their employment, despite improving jobs figures. Read more here: https://mnpdebt.ca//covid-consumer-debt-nearly-half-of-can

Four in 10 (43%) Canadians still experiencing COVID-related disruption to their employment, despite improving jobs figures. Read more: https://mnpdebt.ca//covid-consumer-debt-nearly-half-of-can #COVID19 #MNPcdi #CERB

Grant Bazian, president of MNP, discusses a survey the insolvency firm commissioned on the impact of the coronavirus pandemic on employment and finances. The polling found 45 per cent of those receiving emergency COVID-19 benefits will use debt to help meet their needs if they were no longer able to receive government assistance. #MNPcdi #CERB #COVID19

Despite the slowing of credit-use by Canadian consumers on some fronts due to the COVID-19 pandemic, overall consumer debt continues to grow - and the main driver is a resurgent mortgages market.