MNP Debt
2375 Burrard Ave 200 V0J3A0 Vanderhoof, BC, Canada

In many ways facing unmanageable debt on your own is a lot like building a deck, re-wiring a garden shed, or plumbing a new bathroom. Simple, straightforward projects can help build much needed skills and confidence. But taking on more than you can handle can do just the opposite and create an even bigger, costlier problem. #DefeatDebt #DIYdebtsolutions

New data show that consumer insolvencies filed in Canada jumped 22.8% in March, the biggest monthly increase in more than 10 years. It's also the largest single month of new filing activity since the onset of the pandemic more than a year ago. #DefeatDebt #MNPcdi

There’s no one-size-fits-all strategy for getting out of debt. The MNP Debt Calculator can create a clearer picture of where to go next, so you can move forward with the confidence you’re heading in the right direction. #DefeatDebt #DIYdebtsolutions

Compound interest can be highly beneficial when you’re investing because every month you can earn additional interest on the interest you earned over the previous months. But it can be debilitating when applied to debts because your lender will charge interest on any interest you haven’t paid over the previous months. #DefeatDebt

The MNP Debt Calculator is a powerful tool that takes your assets, income and debt obligations into account, and offers potential options to forge ahead with getting rid of debt. Launch yourself toward a financial fresh start with the MNP Debt Calculator. #DefeatDebt #DIYdebtsolutions

When a growing number of people feel like they can’t afford living expenses without taking on more debt, it usually signals even more financial upheaval is on the horizon. This is particularly concerning with so much uncertainty still ahead. #MNPcdi

Bank of Canada maintains interest rate, but how does this impact us as Canadians? 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, cautions Bazian. When people try to manage their financial turmoil by taking on additional debt, the results can be disastrous. It’s like trying to fill one hole by digging another. With interest rates at an all-time low, six in 10 (61%) feel now i...s a good time to buy things they otherwise might not be able to afford. Nearly half (47%) say they’re more relaxed about carrying debt than they usually are. This may be why fewer (22%) say they are losing sleep due to COVID-19 economic concerns (-12 since June) or the recession (20%, -5 since June). Read more on MNPdebt.ca/CDI #MNPcdi

The MNP Consumer Debt Index has dropped five points since September to stand at 89 points. This is both the lowest level ever recorded and the largest quarterly decline since the Index launched in June 2017. The record low was largely fuelled by Canadians’ negative perceptions of their personal finances, current household debt levels, and concerns about weathering unexpected setbacks without taking on more debt. #MNPcdi

MNP Consumer Debt Index reveals declining financial confidence and increasing debt concerns among British Columbians due to pandemic. #MNPcdi