MNP Debt

"All the MNP Ltd. people I talked with from the very beginning were very helpful, soft spoken and understanding. I am very THANKFUL to all of them. I am now free of debt and very happy. I highly recommend their services for anyone who needs financial help."

I am now free of debt and very happy. Get a free confidential consultation today. Fill out the form below and an MNP Debt Advisor will contact you within 1 business day.

Keeping resolutions can be difficult, and most of us will have given up on reaching our resolutions by the time February rolls around. How do you make a realistic goal and what steps should you take to achieve it?

Tips to help you stick to your financial resolutions Change can be difficult, however, and most of us will have given up on reaching our resolutions by the time February rolls around. How do you make a realistic goal and what steps should you take to achieve it?

There’s no doubt that debt can have a negative impact on mental health. But you don’t have to face the emotional journey of debt by yourself.

Let’s talk about debt and the emotional journey Tackling the sources of your financial stress is essential for the sake of your mental, physical and financial well-being.

Seven in 10 Canadians (68%) say they’re already feeling the effects of interest rate increases, according to the latest Consumer Debt Index. With the BoC announcing another interest rate increase of 25 basis points today, that percentage could continue to climb through the next quarter.

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%.

Thousands of families are performing the financial balancing act of trying to get by on a single income, making planning financial goals beyond their next payment difficult. The good news is, a strong financial future is achievable with a lot of planning and a little bit of compromise.

Living on a Single Income (3 Minute Debt Break) Get a free confidential consultation today. Fill out the form below and an MNP Debt Advisor will contact you within 1 business day.

Financial stress affects Canadians of all income levels and ages, and nearly half of working Canadians admit that stress related to personal finance has had an impact on their job performance. But it doesn’t have to be that way.

Managing your mental and financial health in the new year Your mental and financial health are connected in ways that can have a significant impact on your life. Here are some ideas to help you manage both as the new year begins.

“This major shift in Canadians’ attitudes towards their personal debt is a reflection of the rapidly rising interest rates and persistent inflation this past year.”

Debts in focus as Canadians fear permanent impact of inflation Almost half of Canadians believe their wages will never catch up with rising prices, while debt concern reaches new level

“Unfortunately, taking on more debt can have lasting financial impacts and push some into a debt spiral. These kinds of financial struggles often trigger stress and anxiety which can have a significant impact on mental health.”

49% of Canadians Now Regret The Amount of Debt They've Taken On: MNP The MNP Consumer Debt Index dropped to an all-time low in the last quarter of 2022, following an "unprecedented" quarterly decline.

Canadians’ anxiety about debt spikes amid high inflation, rising interest rates:

Canadians’ debt concerns rising amid higher interest rates and persistent inflation, report suggests Bankruptcy trustee firm MNP says its quarterly consumer debt index fell 15 points since its last survey to an all-time low of 77 points

The quarterly MNP Consumer Debt Index has taken a drastic plunge to 77 points, dropping a record 15 points from last quarter and marking an all-time low since the Index was created more than five years ago. The unprecedented quarterly decline underscores the anxiety Canadians feel about their debt situation amid rising interest rates, persistent inflation, and heightened affordability concerns.

and have many Canadians concerned about their debt. 45% say they are $200 away or less from being unable to meet all their financial obligations.

MNP Debt Index Falls To All-Time Low as Canadians Becoming Increasingly Concerned and Regretful about their Debt Canadians are Taking Steps to Save Money, but Interest Rates, Inflation, and Affordability have many Concerned About their Debt