DebtMatters Podcast

150 - From Fear to Freedom: Debt Solutions in Canada

info@debtmatters.ca (Debt Matters Team) — Sat, 4 Oct 2025 07:00:00 +0000

Brenda breaks down the key differences between Bankruptcy, Consumer Proposals, and credit counselling, while addressing common misconceptions—like whether you’ll lose your home or vehicle. She also shares warning signs of financial trouble and the relief Canadians often feel once they take that first step toward a fresh start. If you’ve been stressed about debt and unsure of your options, this episode offers clarity, encouragement, and practical solutions.

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148 - Feeling Overwhelmed by Debt? Here’s How to Cope

info@debtmatters.ca (Debt Matters Team) — Wed, 27 Aug 2025 07:00:00 +0000

From fear, stress, and embarrassment to the strain it puts on families, Mary Ann shares real stories of how financial struggles impact daily life. She also explains why silence around money keeps people stuck and how simply talking about debt can bring relief. Most importantly, listeners will learn what first steps to take if they’re feeling overwhelmed, including how to access free, confidential advice from a Licensed Insolvency Trustee. Tune in to discover how you can move from stress and shame toward hope and control.

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147 - Student Debt in Canada: Options & Insights with Mary-Ann Marriott

info@debtmatters.ca (Debt Matters Team) — Wed, 27 Aug 2025 07:00:00 +0000

They discuss the emotional toll of carrying student loans, how rising living costs make repayment harder, and why many young Canadians are turning to debt relief options. Mary Ann explains the rules around student loan forgiveness, including the seven-year and five-year hardship provisions, and highlights repayment assistance programs that may help borrowers before considering insolvency. If you’re struggling with student debt, this episode provides practical guidance, hope, and clear next steps.

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149 - Brenda Woods on Consumer Debt in Canada 2025 | Debt Matters

info@debtmatters.ca (Debt Matters Team) — Wed, 27 Aug 2025 07:00:00 +0000

With household debt levels among the highest in the G7, Brenda explains why car loans, rising mortgage renewals, and payday loans are trapping Canadians in a cycle of financial stress. She also shares practical steps for regaining control — from simple budgeting habits to the debt snowball method — and explains when it’s the right time to reach out to a Licensed Insolvency Trustee. Whether you’re overwhelmed by bills or just want to manage money smarter, this episode offers strategies you can use today.

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146 - Glenn Steiner: From Financial Despair to Hope — One Family’s Story

info@debtmatters.ca (Debt Matters Team) — Wed, 27 Aug 2025 07:00:00 +0000

Glenn reflects on how building trust, listening with empathy, and offering clear financial solutions can not only change a person’s circumstances—but heal families. You’ll also hear Glenn’s thoughts on financial education, budgeting tips, and the community outreach work he’s passionate about.

Whether you’re struggling with debt or just want a deeper look at the human side of insolvency work, this episode offers both insight and hope.

👉 Need help? Free consultations available at WeCanHelp.ca or call 1-888-371-8900.

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145 - A Fresh Start: Glenn Steiner on Debt Relief & Bankruptcy Myths

info@debtmatters.ca (Debt Matters Team) — Wed, 27 Aug 2025 07:00:00 +0000

You’ll hear how the initial consultation works, what debt solutions are available (like Consumer Proposals and Bankruptcy), and how most people are surprised to learn they won’t lose everything.

Glenn also shares emotional stories of clients who found hope again, showing why compassion, not judgment, is at the heart of every conversation.

If you or someone you love is struggling with debt, this episode is a must-listen. You’re not alone, and there is a way forward.

For free, no-obligation debt help, call 1-888-837-1800 or visit allanmarshall.ca.

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144 - Signs You Might Be in Financial Hardship—and What to Do Next

info@debtmatters.ca (Debt Matters Team) — Sun, 20 Apr 2025 07:00:00 +0000

Wayne Kay sits down with Derek Chase, Licensed Insolvency Trustee at Chase and Associates, to explore the warning signs of financial hardship and what Canadians can do when they spot these red flags.

Key topics discussed include:

Signs of financial trouble: Learn how collection calls, overdrafts, and rising debt are red flags.
The emotional toll of debt: Find out how ignoring financial issues can lead to stress and strain relationships.
Taking action early: Discover why addressing debt early can provide more options and prevent further damage

Plus:

Evaluating your finances: Learn how to take stock of your assets, debts, income, and expenses.
Cutting unnecessary expenses: Tips on trimming wasteful spending to free up money fast.
Avoiding high-interest loans: Understand why payday loans often worsen any money problems.

“Recognizing the signs early and taking action can mean the difference between a financial reset and financial ruin.” — Derek Chase

Debt doesn’t have to feel shameful. It’s more common than you think, and there are plenty of ways to tackle it. From smarter budgeting, selling unused assets, or professional help—options are available. Listen in to learn more:

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143 - Your Guide to Debt Relief: What Is a Consumer Proposal?

info@debtmatters.ca (Debt Matters Team) — Sat, 19 Apr 2025 10:22:05 +0000

Wayne Kay sits down with Derek Chase to unpack the growing rise of Consumer Proposals in Canada. Find out how they work, who qualifies, and why more Canadians are choosing them over Bankruptcy as a debt solution.

Key topics discussed include:

Why Consumer Proposals are gaining popularity: Look at the reasons more Canadians are turning to this option for structured debt relief and asset protection.
The impact on credit: Explore how a Consumer Proposal affects your credit rating and what it means for rebuilding moving forward.
Is it the right fit for you: Break down the factors to consider when deciding if a Consumer Proposal aligns with your income, debt type, assets, and financial goals.

Plus:

Secured vs. unsecured debt: The difference between debts tied to assets and those that aren’t—and why each requires a different repayment strategy.
Alternative debt relief options in Canada: From debt consolidation to Bankruptcy, explore the full range of solutions available to Canadians.

“The key to choosing the right path is looking at your cash flow—not just this month, but the next and the one after that.” — Derek Chase

Struggling with debt doesn’t mean you’re out of options. Consumer proposals offer a practical path forward—one that’s affordable, legal, and designed to give you room to breathe. Tune into the podcast to learn how.

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142 - How to Enjoy a Stress-Free Holiday and Avoid Debt

info@debtmatters.ca (Debt Matters Team) — Mon, 14 Oct 2024 06:53:53 +0000

The holiday season is a time for joy and celebration. Yet for many, it can also bring financial stress. In this episode, debt expert Matt Fader discusses how to avoid the common pitfalls of holiday overspending. From budgeting for predictable holiday expenses to setting realistic expectations for gift-giving, discover how you can manage the financial pressure of the season.

Key Points Discussed:

Holiday shopping norms: Dive into the commercial pressures that encourage overspending during the holidays.
Holiday budgeting tips: Learn practical strategies for saving and seasonal preparation.
Managing holiday expectations: Explore healthy holiday boundaries with family and friends to help limit financial strain.
Spending impact: Find out how to prevent carrying debt into the new year.

Matt also provides insights on how to make holiday memories meaningful—without focusing on material items. Ensure that the season is about experiences, not expenses.

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141 - Financial Goals: Turning Financial Dreams Into Reality

info@debtmatters.ca (Debt Matters Team) — Mon, 14 Oct 2024 06:47:54 +0000

This week's Debt Matters podcast features host Wayne Kay with Matt Fader from Allan Marshall & Associates. Together they discuss the key steps needed to turn financial dreams into actionable goals. The focus centres on the importance of clear objectives and how to stay motivated throughout your savings journey.

Matt also shares insights on setting realistic financial goals and how to avoid common pitfalls that might discourage you along the way (celebrate the small wins!). Listen in for practical advice on how to make progress toward financial security.

Key Points Covered Include:

Setting clear financial goals: Matt shows how to create clear, well-defined financial objectives and explains why this clarity helps guide saving efforts.
Using good goal-tracking techniques: Matt shares practical tips on how to track your progress. He also suggests tools you can try, from pen and paper to more complex digital methods.
Staying motivated: Matt teaches strategies that help you maintain focus (e.g. celebrating small milestones that boost confidence and keep a positive outlook).
Earning financial flexibility: Matt touches upon the significance of allowing yourself to spend money so you avoid the trap of hoarding.
Planning your emergency fund: Matt defines healthy emergency savings goals so that you have a safety net in place.

For anyone who needs help making their financial dreams a reality, this episode contains the tips and tricks you need:

Additional Resources

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140 - The Personal Toll of Debt and How to Overcome Financial Stress

info@debtmatters.ca (Debt Matters Team) — Thu, 19 Sep 2024 13:00:00 +0000

In this episode of the Debt Matters podcast, Wayne Kay speaks with Licensed Insolvency Trustee Derek Chase about the personal and emotional toll included with debt. Key topics discussed include:

Mental health: Debt can have a lasting impact on your emotional well-being.
Opportunity loss: Debt can limit or change your life trajectory and overall lifestyle.
Financial stress management: Learn practical steps to manage the stress caused by debt.
Coping tools: Discover the importance of physical activity and communication to manage the emotional strain of debt.
Seeking advice: Reaching out to professionals or support networks for financial planning that can provide relief.
DIY debt relief: Find financial planning resources that ease the debt burden.
Staying calm: How to avoid rash decisions (like liquidating your assets) and earn peace throughout the debt process.

If financial problems are weighing you down, listen to today's Debt Matters podcast for more insights on how to manage the emotional cost of debt.

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139 - Rebuilding After Divorce: A Financial Guide for Single Moms

info@debtmatters.ca (Debt Matters Team) — Mon, 16 Sep 2024 13:00:00 +0000

In this episode of the Debt Matters Podcast, host Wayne Kay speaks with Derek Chase from Chase & Associates Licensed Insolvency Trustee about the financial challenges single moms face after a divorce. Learn the steps single parents can take to rebuild their stability.

Key Topics Covered:

The financial impact of divorce: Divorce affects up to 40% of marriages and causes money struggles, especially for single moms.
The connection between marriage and finances: Relationship changes, including divorce, are one of the leading causes of financial insolvency.
Seeking advice: Professionals like accountants, investment advisors, or a Licensed Insolvency Trustee provide helpful financial assistance for single moms. They also provide debt relief for couples you divorce with debt.
Initial steps for newly single parents: Learn how to take stock of your assets and liabilities and better understand your financial situation. There are even single mom grants you can take advantage of.
Creating individual accounts: Open a new bank account at a different institution so you have control and protection over your finances.
Establishing credit: Establish your own credit and avoid liabilities tied to your former spouse.

If you are a single mom, tune in for actionable insights on how to regain financial stability post-divorce.

Additional Resources

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138 - Budgeting Basics: Creating a Plan and Sticking to It

info@debtmatters.ca (Debt Matters Team) — Mon, 15 Jul 2024 13:00:00 +0000

Surveys have found that while most Canadians agree that having a budget is a good thing - less than half do. Learning how to set up a budget and stick with it lets your money know that you are taking charge.

So what is the secret to budgeting? And how do you stick to the goals you have set? Licensed Insolvency Trustee, Brenda Wood shares some tips and strategies to make a realistic budget that will work for you. Topics covered are:

The psychological aspect of seeing your budget work
Budgeting tools - online and on paper
The 4 simple steps to create a sensible budget
Slippery slope of using credit cards as a form of income
Using S.M.A.R.T. goal setting guidelines
Creating future financial goals when you have surplus/savings

If you are struggling with your finances, a Licensed Insolvency Trustee should be your first call. Regulated by the federal government of Canada, you can be assured of unbiased advice in your free initial consultation.

About Brenda Wood

Brenda started in the insolvency industry in 1995 and earned her Licensed Insolvency Trustee designation in 2006. She has a long history of volunteering with the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) where she has served as a member and presented at events. Brenda received the CAIRP Outstanding Volunteer Award in 2012 in recognition of her service.

Outside work, you’ll find Brenda at the ice rink, ball field or camping at one of the beautiful Nova Scotia campgrounds.

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137 - Understanding Credit Scores and Reports

info@debtmatters.ca (Debt Matters Team) — Fri, 12 Jul 2024 13:00:00 +0000

Whether you are applying for a new cell phone plan or a mortgage, your potential creditors want to understand your financial history and your ability to repay debt. Your credit score and report will help them decide whether they want to do business with you. But most people don’t know a lot about their credit report and credit score. Today’s podcast looks at the difference between the two and how you can improve your score. Licensed Insolvency Trustee, Brenda Wood, also covers the following topics:

Why you should be checking your credit report often
The difference between a hard and soft credit hit
What shows up on a credit report
How scores are calculated and why they fluctuate
What is a credit rating and where it appears
Things you can do to improve your score

Licensed Insolvency Trustees are federally regulated and follow a strict code of ethics as well as government regulations. From budgeting to Bankruptcy, you can be assured of unbiased, non-judgemental advice.

About Brenda Wood

Outside work, you’ll find Brenda at the ice rink, ball field or camping at one of the beautiful Nova Scotia campgrounds.

Additional Resources

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136 - How to Plan Your Debt Relief

info@debtmatters.ca (Debt Matters Team) — Fri, 5 Jul 2024 13:00:00 +0000

Statistics show that Canadians are falling deeper into debt. With high inflation and interest rates, most of us are under a lot of financial pressure as we combat the rising cost of living. Carrying debt can put a strain on our financial health and emotional well-being but It can be hard to find the right debt relief solution.

Licensed Insolvency Trustee, David Macdonald tackles this problem. Having a plan to cut your debt is the first step to becoming debt free. In this podcast David discusses:

The negative connotations toward the word ‘budgeting’
Accurately identifying your expenses and income
Free resources to improve your financial literacy
Budgeting apps that can make your life easier
The most important things NOT to do to try to lessen your debt
When it’s time to talk to a professional

Licensed Insolvency Trustees can help you get your finances back on track. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada.

About David Macdonald

David Macdonald has been helping people and small business owners resolve their financial problems since 2003 in British Columbia, Alberta and the Maritime provinces. He has been retained as a trusted advisor and service provider by many of Canada’s banks, private lenders, First Nations and the CRA.

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations.

Additional Resources

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135 - Signs You Might Be in Financial Trouble

info@debtmatters.ca (Debt Matters Team) — Mon, 1 Jul 2024 13:00:00 +0000

Finding yourself with unmanageable debt doesn't usually happen overnight. It is often a slow unnoticeable process that might start with being a few hundred dollars short every month. But the sooner you take action, the more options will be available. You’ll have the ability to make decisions before your creditors do.

If you think you are alone in this scenario, you would be mistaken. Licensed Insolvency Trustee, David Macdonald talks about taking a good look at your finances. How do you know how much debt is too much debt? David also covers:

Debt statistics - what happened after the pandemic
The role banks are playing in the debt crisis
Warning signs that let you know it’s time to seek professional help
Using credit for day to day expenses
Is overdraft protection really protecting you?
Options that can help break the debt cycle
Resources that can help with financial literacy

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. You can be assured you are receiving the best unbiased advice from these knowledgeable debt professionals.

About David Macdonald

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations.

Additional Resources

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134 - Tax Debt: Solutions That Work

info@debtmatters.ca (Debt Matters Team) — Fri, 28 Jun 2024 13:00:00 +0000

Owing the Canada Revenue Agency (CRA) money can be overwhelming. This government agency has greater powers to collect compared to other creditors. What do you do when you simply cannot pay your outstanding tax debt?

The good news is that there are ways that you can overcome debts owing to the CRA. In this podcast, Licensed Insolvency Trustee Leigh Taylor talks about the importance of filing your taxes and the steps you can take when you are unable to pay your outstanding taxes.

Leigh also covers:

How to avoid tax debt and consequences of not filing
Solutions available if your tax debt is insurmountable
Including tax debt when filing Bankruptcy or a Consumer Proposal
Tax laws for self employment, PST and GST tax remittances
What happens when tax debt is ignored
Contacting a Licensed Insolvency Trustee to explore options

Licensed Insolvency Trustees are federally regulated and experts in debt management solutions. They offer a free initial consultation at which time they will go through all the options available to you to help you break free from the cycle of debt.

About Leigh Taylor

Leigh began his career as an Official Receiver with the Office of the Superintendent of Bankruptcy. He is a Certified Professional Accountant and attained his license as a Licensed Insolvency Trustee in 1980.

LCTaylor’s mission is to help people get out of debt through compassionate care and professional service. With over 40 years experience in the insolvency field, Leigh and his staff have helped over 50,000 Manitobans solve their debt problems.

Additional Resources

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133 - A Guide to Consumer Proposals and Debt Relief

info@debtmatters.ca (Debt Matters Team) — Mon, 24 Jun 2024 13:00:00 +0000

Everywhere you turn there is another report or survey about Canadian’s record high indebtedness. And alongside those reports we are inundated with offers to help. But be cautious and know that the only debt relief program administered by the federal government is a Consumer Proposal. And the only professional who can file a Proposal is a Licensed Insolvency Trustee.

If you are exploring your options, here is a good place to start. Licensed Insolvency Trustee, Leigh Taylor has been helping people with their debt for over 40 years. In this podcast he talks about:

Recovering from overwhelming debt
Basic budgeting and long term budgeting
How Consumer Proposals work and the key to having them accepted
Stay of Proceeding that automatically stops collection activities
Do-it-yourself proposals - advantages and disadvantages

Licensed Insolvency Trustees are certified from the Office of the Superintendent of Bankruptcy and are authorized to deal with creditors to negotiate debt repayment. They provide a free initial consultation and their fees are determined by the federal government.

About Leigh Taylor

Additional Resources

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132 - Breaking the Cycle: Strategies for Managing Debt Amidst Daily Expenses

info@debtmatters.ca (Debt Matters Team) — Mon, 27 May 2024 13:00:00 +0000

Debt cycles are easy to fall into but with a little planning and some discipline, you don’t have to keep spinning your wheels. Acknowledging that you’re trapped in a cycle of debt is a good place to start. In this timely podcast, Licensed Insolvency Trustee, Derek Chase, talks about strategies for managing debt. Other topics covered include:

Payday loans and line of credit traps.
Looking deeper into Intergenerational debt cycles
Strategies to build momentum for savings
Ways to increase your financial literacy
Importance of a cash flow review

If you are looking for a way to break your debt cycle, speak with a Licensed Insolvency Trustee and be assured that you will get qualified advice. They are regulated and licensed by the Canadian government and will give you information you can trust.

About Derek Chase

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.

Additional Resources

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131 - The Benefits of Meeting with a Local Licensed Insolvency Trustee

info@debtmatters.ca (Debt Matters Team) — Fri, 24 May 2024 13:00:00 +0000

If you are already under stress as a result of your financial situation, it’s difficult to decide where to turn when looking for debt relief. Meeting with someone in person who has an office where you live can be helpful. Licensed Insolvency Trustee, Derek Chase explains the benefits of seeking out a local Trustee firm that you feel comfortable with. Meeting face to face can be reassuring, avoiding the pitfalls of doing business on the internet.

Derek also discusses:

The benefits of consulting with a Licensed Insolvency Trustee
The strict code of ethics LIT’s must follow
Why Bankruptcy is the last option discussed
When to seek help
Getting fair and honest advice from a local LIT

Licensed Insolvency Trustees are federally regulated and experts in debt management solutions. They follow a strict code of ethics as well as government regulations.

About Derek Chase

Additional Resources

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130 - How to Respond to Collection Notices and Protect Your Credit

info@debtmatters.ca (Debt Matters Team) — Wed, 8 May 2024 13:00:00 +0000

Anyone can fall behind on debt payments especially in these uncertain economic times. Having unpaid debt turned over to a debt collector is a worst-case scenario for the majority of Canadians. But when this happens, it’s important to know how to minimize the impact if a debt collection agency does come calling. Licensed Insolvency Trustee, Mary-Ann Marriott knows that having a debt collector call can put more pressure on top of the debt itself.

In this podcast she talks about:

The first thing you need to do when you get a call
Why you need to keep a log of all communication
The options available when an account is in collections
How to negotiate a settlement
When to contact a lawyer
Reducing the impact on your credit score
Where to find out about your rights

Licensed Insolvency Trustees are considered to be the best debt advisors in the country and are licensed by the federal government of Canada. If you are concerned about your debt, book a free consultation to find out what options are available to you. They can help get your finances back on track.

About Mary-Ann Marriott

Mary-Ann Marriott has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives.

Additional Resources

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129 - How Bankruptcy Works for Individuals vs. Businesses in Canada

info@debtmatters.ca (Debt Matters Team) — Mon, 6 May 2024 13:00:00 +0000

Thousands of Canadian businesses exit the marketplace every year whether through filing Bankruptcy or just closing their doors. Many more are on a razor’s edge with the rising cost of servicing their debt due to higher interest rates. Today’s podcast looks at the cost of putting a business through Bankruptcy and other options that may be available. Licensed Insolvency Trustee, Mary-Ann Marriott also discusses how individual Bankruptcy differs from business Bankruptcy.

About Mary-Ann Marriott

Additional Resources

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128- Bankruptcy and Student Loan Debt

info@debtmatters.ca (Debt Matters Team) — Fri, 5 Apr 2024 13:00:00 +0000

While most Canadians view student loans as an investment rather than an expense, they can become a burden after graduation. As the years go by and more unsecured debt is added, it can be a struggle to keep up. If you are contemplating filing for personal Bankruptcy in the hopes of discharging your student loan debt, you need to make sure your timing is right. Licensed Insolvency Trustee, Francyne Myers goes through the rules for including student loans in a Bankruptcy. She also discusses:

The seven- year rule
The importance of accurate study period ending dates
When it makes sense to keep paying student loans
Single date approach & multiple date apreach
The 5 year court application rule
Chances of obtaining further student loans after Bankruptcy

If you are unsure of where to turn, a Licensed Insolvency Trustees should be your first call. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. The initial consultation is always free and you can be assured that you will receive unbiased advice.

About Francyne Myers

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.

Additional Resources

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127 - Can You Switch Between Bankruptcy and Consumer Proposal

info@debtmatters.ca (Debt Matters Team) — Mon, 1 Apr 2024 14:00:00 +0000

Under the Canadian Bankruptcy & Insolvency Act there are two options that allow consumers to eliminate debt, filing a Bankruptcy or a Consumer Proposal. The option you chose is based on your personal situation at the time of filing. But what happens if your financial circumstances change? Can you switch from a Bankruptcy to a Consumer Proposal or if you have filed a Consumer Proposal can you change to a Bankruptcy? When would it make sense to switch?

Licensed Insolvency Trustee, Francyne Myers walks us through these two debt relief options and explains when it may be beneficial to have your LIT make the change. She also discusses:

How an inheritance, sudden windfall or increase in your salary could affect your insolvency
Three options you have if you can’t keep up with your Consumer Proposal payments
Advantages and disadvantages of making changes
How your credit score will be affected when you make a switch
Why it’s important to work closely with your LIT to make the right choices

Licensed Insolvency Trustees are regulated by the federal government of Canada and are the only professionals who can administer a Consumer Proposal or Bankruptcy. With their extensive knowledge, you can be assured they will give you honest advice to help you make the best possible decision.

About Francyne Myers

Additional Resources

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126 - Escape the Paycheque Trap

info@debtmatters.ca (Debt Matters Team) — Fri, 15 Mar 2024 13:00:00 +0000

Living paycheque to paycheque can be stressful, to say the least. A recent poll by Leger found that almost half of Canadians are living that way. Stepping off that treadmill is possible with a few sacrifices and a bit of hard work. Licensed Insolvency Trustee, Leigh Taylor talks about the paycheque trap - how it can slowly happen if we don’t pay close attention and become a bit more proactive. He also discusses:

Advertising tricks we may not be aware of
The slippery slope that can lead to debt problems
How lack of budgeting can be one of the biggest factor
Steps to creating a realistic budget
High interest lenders
Talking to a Licensed Insolvency Trustee to find out your options

You can be assured that the advice you receive from a Licensed Insolvency Trustee will be unbiased and have your best interests in mind. They are licensed by the federal government and follow a strict code of ethics.

About Leigh Taylor

Additional Resources

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125 - Cost of Living: Why Does It Matter?

info@debtmatters.ca (Debt Matters Team) — Tue, 12 Mar 2024 13:00:00 +0000

Even though Canada’s economy is thriving in many ways, the rising cost of living is putting pressure on Canadian’s finances. As the price of goods continues to rise, household budgets are getting squeezed from all angles. Rising inflation is affecting most of us and in this podcast, Licensed Insolvency Trustee, Leigh Taylor discusses how we can protect ourselves. Topics covered:

How the cost of living is measured by the consumer price index
Deflation and the effects on the economy
How quantitative easement controls inflation
Ways to protect ourselves as the cost of living rises
Talking to a Licensed Insolvency Trustee sooner rather than later

Federally regulated, Licensed Insolvency Trustees should be the first call you make when you are struggling with unmanageable debt. They will discuss with you all the options available to you and help you determine the best way forward. Your initial consultation is always free.

About Leigh Taylor

Additional Resources

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124 - Consumer Proposal vs. Bankruptcy: Making the Right Decision for Your Financial Future

info@debtmatters.ca (Debt Matters Team) — Wed, 6 Mar 2024 14:00:00 +0000

The top 2 insolvency options that provide debt relief in Canada are personal Bankruptcy and Consumer Proposals. Both resolve debt problems and provide legal protection from your creditors. However, they are significantly different from each other. Everyone’s situation is different and there is no one size fits all solution in determining which is the best option for you. Your assets, income and the total amount of debt are some of the key factors to be considered.

In this podcast, Licensed Insolvency Trustee, Julie Drane looks at the differences and how she helps determine the best way forward. Topics include:

When a filing a Bankruptcy is the best option
When filing a Consumer Proposal is better
The effect on your credit rating
Paying your Consumer Proposal off quicker
How choosing to file Bankruptcy or a Consumer Proposal can affect different professions and the ability to sit on a board

About Julie Drane

Julie began her career in the insolvency industry in 1997 with Canada Trust, Citi Financial and then with a corporate trustee. She achieved her goal of becoming a Licensed Insolvency Trustee in 2008 and now focuses on consumer insolvency.

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

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123 - Facing Bankruptcy: What to Do Before, During and After You File

info@debtmatters.ca (Debt Matters Team) — Mon, 4 Mar 2024 14:00:00 +0000

The mere mention of the word Bankruptcy can send shivers down most people’s spines, but it doesn’t have to be a scary process. As with most fears, they stem from the ‘unknown’. Most people who have been through a Bankruptcy don’t tend to share their experiences. This podcast is meant to lift the curtain on this debt relief option and take the mystery out of it.

Julie Drane, Licensed Insolvency Trustee describes the steps involved, before, during and after you have filed for Bankruptcy.

She discusses:

How to tell when it’s time to seek help
Steps you should take before filing for Bankruptcy
Process of filing with your Licensed Insolvency Trustee
What a Stay of Proceeding does
Rebuilding credit after your discharge

About Julie Drane

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

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122 - Marriage and Finances: Till Debt Do Us Part?

info@debtmatters.ca (Debt Matters Team) — Thu, 15 Feb 2024 14:00:00 +0000

It has been said that money can be like a silent third partner in a relationship. Whether you’re married or just starting to get serious with someone, it’s a good idea to cultivate open and honest communication about your financial situation. Licensed Insolvency Trustee, Bonnie Hooley has had a lot of experience with couples, helping them navigate their unmanageable debt. She understands how much stress debt can put on a relationship. Today she talks about:

Partnering with someone who is in debt
Separate finances as opposed to joint accounts
How shared assets are dealt with in an insolvency
Discussing finances and spending habits before committing to a relationship
Dealing with financial differences.
How Bankruptcy may be a saving grace in a relationship

If your finances are causing stress in your relationship, consult with a Licensed Insolvency Trustee where you live. They will explore all options with you and help you make a decision on the best way forward. Licensed and regulated by the Canadian government, you can be assured you are getting the best unbiased advice.

About Bonnie Hooley

Bonnie Hooley has worked in the insolvency field for over 40 years. She attained her Licensed Insolvency Trustee license in 1999 and is the Past President of the Manitoba Association of Insolvency and Restructuring Professionals (MAIRP). Over the years, she has served on various boards within her community.

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121 - What Causes Bankruptcy and What Are the Consequences?

info@debtmatters.ca (Debt Matters Team) — Tue, 13 Feb 2024 14:00:00 +0000

Debt is on the rise as Canadians deal with surging prices and interest rates. Many may not realize that they’re on the precipice, only making their minimum payments on a large amount of debt. But all it takes is one major change for the house of cards to fall. In this timely podcast, Licensed Insolvency Trustee, Bonnie Hooley talks about the causes of Bankruptcy - taking the judgment out and knowing that when we have credit, Bankruptcy can happen to anyone. Bonnie also discusses:

Seeing Bankruptcy as a tool for honest but unfortunate debtors to get back on track
How changes in life’s circumstances can be a contributing factor
Societal factors are not the only causes of Bankruptcy
A common mistake that can lead to self employed insolvency
Small business versus corporate Bankruptcy
The role of counselling sessions and why they are important

If you are struggling with your debt, Licensed Insolvency Trustees can help. They are licensed by the federal government of Canada and the only professionals who can administer Consumer Proposals and Bankruptcies.

About Bonnie Hooley

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120 - Get Your Finances Back on Track With a Debt Management Plan

info@debtmatters.ca (Debt Matters Team) — Wed, 31 Jan 2024 14:00:00 +0000

Being in debt doesn’t mean that you are bad at budgeting or don’t know how to manage your money. Right now, debt is affecting most Canadians. Having a plan to follow can help you pay off your debt faster so you can regain financial stability.

In this podcast, Licensed Insolvency Trustee, Amanda Sherwood talks about how to create an effective debt management plan. She covers:

What debt management means and where to start
Savings versus debt repayment - incorporating both into your plan
How much debt is too much debt
Checking out your bank for the options available for you
Apps and computer programs to assist you
How cancelling credit cards can affect your credit score.

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of finances and debt management. You can be assured you are receiving the best unbiased advice from these,debt professionals.

About Amanda Sherwood

Amanda started with Allan Marshall and Associates in 2008 as an Estate Administrator. She has since received her Chartered Insolvency & Restructuring Professional (CIRP) and her Licensed Insolvency Trustee (LIT) designation in 2022.

The most rewarding part of her job, Amanda says, is hearing her clients say how relieved they are after meeting with their office. She reminds everyone that they are not alone and that help is available to get relief from insurmountable debt.

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119 - How Fear of Bankruptcy Can Keep You Financially Stuck

info@debtmatters.ca (Debt Matters Team) — Mon, 29 Jan 2024 14:00:00 +0000

Canadians’ debt is on the rise with increased interest rates and the soaring costs of living resulting in many teetering on the brink of insolvency. Still, most people cling to the notion that Bankruptcy only happens to 'deadbeats', but nothing could be further from the truth. In this podcast Licensed Insolvency Trustee, Amanda Sherwood dispels some of the myths surrounding Bankruptcy. She addresses the fears around this debt relief option. Amanda also discusses:

Looking at Bankruptcy as a tool that will reset your finances
How and when to speak to your bank
Licensed Insolvency Trustee’s role is to mediate between you and your creditors
The number one myth that you will lose everything
How the Bankruptcy process is tailored to individual situations

If you are struggling with your finances, Licensed Insolvency Trustees can help. They are considered some of the best debt advisors in the country and the only ones licensed by the federal government of Canada.

About Amanda Sherwood

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118 - Buyer's Remorse In Canadian Housing Market

info@debtmatters.ca (Debt Matters Team) — Thu, 4 Jan 2024 14:00:00 +0000

Owning a home has traditionally been a solid form of investment. But with inflation at an all-time high, interest rate hikes are beginning to cause a slowdown in the real estate market. As the market continues to fall, many recent buyers are beginning to regret their decision to buy.

In today’s podcast, Licensed Insolvency Trustee, Matt Fader, addresses the widespread remorse that is building as many Canadians face the prospect of renewing their mortgages. He offers suggestions about how to prepare and be proactive with your finances before your renewal date. Additional topics covered are:

How did we get here
The true cost of home ownership versus renting
Pitfalls of a Home Equity Lines Of Credit (HELOC)
Preparing and budgeting for increased mortgage payments
Why consult with an LIT to review your options before things fall apart

If you are struggling to pay your mortgage, contact a Licensed Insolvency Trustee. They are debt professionals that will review your overall finances and go through all the options available to you. Licensed by the federal government of Canada, you can be assured of honest advice.

About Matthew Fader

Matthew has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect.

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117 - How Do I Pay Off Debt When Living Paycheck to Paycheck

info@debtmatters.ca (Debt Matters Team) — Tue, 2 Jan 2024 09:00:00 +0000

The latest polls have found that nearly half of Canadians are living paycheck to paycheck as the cost of living continues to rise. Household budgets are getting squeezed causing debt levels to increase. Once you find how much money you need to stay on top of your expenses, you’ll either need to make sacrifices or find a way to increase your income. Licensed Insolvency Trustee, Matthew Fader discusses options and strategies to break the cycle of living paycheque to paycheque. He covers:

Where to start
The psychological component of money management
Identifying recurring and occasional expenses
Is the shortfall is due to spending issues or insufficient income
Pros and cons of consolidation loans versus a line of credit
Consulting with an LIT to help evaluate your options and find a solution

Licensed Insolvency Trustees are considered to be the best debt advisors in the country and the only ones licensed by the federal government of Canada. They can help you navigate a path forward to becoming debt free.

About Matthew Fader

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116 - Canada's Food Price Report Predicts Prices Will Rise - What You Can Do

info@debtmatters.ca (Debt Matters Team) — Fri, 29 Dec 2023 03:12:15 +0000

A new report predicts that all food categories could rise by as much as 4.5% in 2024. This may mean that we need to be more diligent in how and where we shop and look for new opportunities to save on our grocery bills. This podcast features, LIT Derek Chase, strategizing ways we can fight back and be more creative with our food budget. Topics include:

Finding out what you are been paying for food in a month
The resurgence of canning, growing food and batch cooking
Best times of the day to shop
Trading resources and networking on social media
How an LIT can help when you are struggling with your finances

About Derek Chase

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115 - 5 Ways to Improve Your Finances in 2024

info@debtmatters.ca (Debt Matters Team) — Thu, 21 Dec 2023 13:41:07 +0000

The end of the year is a good time to reflect on the past year, not only on your physical fitness or weight but also on your finances. There may not be much you can do to control the uncertainties of the economy but you can create a plan to help you achieve your financial goals.

This podcast gives you some steps to help set your finances on the right track for 2024. Licensed Insolvency Trustee, Derek Chase talks about:

5 things you can do to improve your finances
Ways to reduce your expenses
Evaluating your financial goals
How to start saving even though it may seem impossible
Steps to take if you are under too much financial pressure

About Derek Chase

Additional Resources

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114 - When Should You Seek Debt Relief

info@debtmatters.ca (Debt Matters Team) — Wed, 29 Nov 2023 14:00:00 +0000

Debt is a normal part of life for most people. Recent data from StatsCan shows that only 30.2% Canadians live debt free. But how much debt is too much and how do you know when it’s time to reach out for help?

These are the questions Licensed Insolvency Trustee, Mark Marshall answers in this timely podcast. Other topics covered are:

Warning signs to watch out for
Using credit for short term pleasure creating long term payments
Asking your financial institution for a line of credit
What happens when you file a Consumer Proposal or Bankruptcy
Why you should reach out to a Licensed Insolvency Trustee
Where to find information and resources.

Licensed Insolvency Trustees will give you honest advice about all the options that are available for your unique financial situation. They are federally regulated and licensed by the Canadian government. Get the help you need from an experienced debt expert.

About Mark Marshall

Mark Marshall has been working in the insolvency field for 20 years. He received his Licensed Insolvency Trustee accreditation in 2012 and has also been an active board member with Music NB. He endeavors to give each client he meets advice on all of their available options so they can proceed with the knowledge they need to make an informed decision.

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113 - More Canadians Are Living Paycheque-To-Paycheque

info@debtmatters.ca (Debt Matters Team) — Tue, 28 Nov 2023 06:23:17 +0000

A recent Leger poll taken in September 2023 has found that nearly half of Canadians are living paycheque to paycheque as the cost of living continues to rise. Skyrocketing inflation means that there is less money available to save for emergencies or retirement.

Is there a way to break this cycle? Licensed Insolvency Trustee, Mark Marshall, talks about strategies that can help find unnecessary expenses to cut to save money.

Mark also covers:

How to track your expenses
Asking for an increase in your wage
Paying yourself first
Putting money into a savings account that is difficult to access
When to contact a Licensed Insolvency Trustee

About Mark Marshall

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112 - Should You Pay Debts First or Save

info@debtmatters.ca (Debt Matters Team) — Sat, 11 Nov 2023 10:27:54 +0000

With rising interest rates, paying off debt can feel like it has to be your only financial priority. But should you not be saving for those unexpected expenses that keep popping up? How do you build financial resilience in these challenging times? Savings versus paying down debt, it’s a balancing act. Licensed Insolvency Trustee, Mary-Ann Marriot talks about strategies you can use to do both at the same time.

He also discusses:

Finding out and tracking the expenses you are using credit for
Typical savings objectives divided into 3 categories
Advantages of using multiple bank accounts
Common mistakes we make when saving
Options to consider when your income is not meeting your expenses

Licensed Insolvency Trustees are federally regulated and governed by the Canadian government. You can be assured you are receiving the best unbiased advice from these debt professionals.

About Mary-Ann Marriot

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

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111 - Paying Off Your Credit Card With a Lower-Rate Card

info@debtmatters.ca (Debt Matters Team) — Mon, 6 Nov 2023 16:20:19 +0000

Credit card spending in Canada has reached a historically high level. With such high demands for credit, credit card companies are finding ways to be more competitive. Some offer lower-interest or no-interest cards for a limited time when you do a balance transfer. But is it a good idea to pay one credit card down with another? Today, Licensed Insolvency Trustee, Mary-Ann Marriot, discusses low-interest credit cards and how to make them work for you.

She also answers the questions:

How will my credit score be affected?
Should I cancel my credit card once it’s paid off?
Would a consolidation loan be a better option?
Where can I get a low-interest or no-interest credit card?
Is it beneficial to increase my credit limit?
What is the optimum percentage of credit utilization to get a good credit score?

If you are struggling to keep up with your credit payments, talking to a Licensed Insolvency Trustee can help. They are qualified debt professionals that offer resources and strategies to improve your financial well-being.

About Mary-Ann Marriot

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110 - What Happens When You Go Bankrupt in Canada?

info@debtmatters.ca (Debt Matters Team) — Thu, 2 Nov 2023 11:17:29 +0000

Personal Bankruptcy is a legal process overseen by the federal government to help Canadians who can’t afford to repay their debts find debt relief. The number of people struggling with insolvency has increased substantially as the cost of living remains high. No-one really wants to go bankrupt but as Licensed Insolvency Trustee, Derek Chase explains, Bankruptcy can be viewed as a tool to help fix your finances. This podcast answers some of the most frequently asked questions about this debt relief option.

Will I lose my paycheque?
Which of my assets are exempt?
Will someone come to my house and inventory my belongings?
Will I have to go to court?
What happens to my vehicle?
What will life be like in the months that I am in Bankruptcy?

Before you make any decisions about how to deal with your debt, consulting with a Licensed Insolvency Trustee will assure you that all options will be explored. Bankruptcy is just one of the solutions available to Canadians. Your initial consultation with a Trustee is free.

About Derek Chase

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109 - Saving for Your Child’s Education

info@debtmatters.ca (Debt Matters Team) — Thu, 2 Nov 2023 10:02:31 +0000

With the cost of living consistently increasing, many Canadians are stretched thin and trying to prioritize where their money is going. Saving for your child's education makes good financial sense and starting early means your money has more time to work for you. Canadian parents have a powerful savings tool to help.

In today’s episode, Licensed Insolvency Trustee, Derek Chase, talks about how to save for your child’s education. Derek covers these topics and more:

Benefits of starting a Registered Education Savings Plan (RESP)
Family and friends contribution to your child’s RESP
Setting up pre-authorized debits to go to savings each month
Benefits of compound interest received through your RESP
When budgets are maxed out - planning in 5 year increments

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government.You can be assured you are receiving the best unbiased advice from these knowledgeable debt professionals.

About Derek Chase

Additional Resources

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108 - The Different Types of Debt Licensed Insolvency Trustee Deal With

info@debtmatters.ca (Debt Matters Team) — Fri, 29 Sep 2023 13:00:00 +0000

All debts are not created equal. The kind of debt you hold may affect your options when you seek help. Most debt falls into two categories: secured and unsecured. And before you come up with a plan to pay your debt, it’s important to understand how different types of debt work. Everyone’s financial situation is unique and for that reason there is no one-size-fits-all solution. A Licensed Insolvency Trustee is the only debt professional that is required by law to explain all the debt relief options that are available to you.

This podcast looks at the different types of debt and which are eliminated when you file a Bankruptcy. LIT Genn Steiner also discusses:

The difference between secured and unsecured debt
Tax debt and when it can and cannot be included in Bankruptcy
How EI overpayments are dealt with
Giving false information leading to fraud charges
Examples of real life scenarios

Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best debt advisors in the country and the only ones licensed by the federal government of Canada.

About Glenn Steiner

Born and raised in Saskatchewan, Glen has a passion for helping people. He walks them through the various financial options, allowing them to make life changes that can give them a fresh start.

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107 - Is There Life After Bankruptcy Discharge?

info@debtmatters.ca (Debt Matters Team) — Tue, 26 Sep 2023 13:00:00 +0000

The Bankruptcy process gives you the chance to reestablish your financial security. Receiving a discharge is the final step and means you are released from all obligations to repay all debts in your Bankruptcy filing. You can then start to rebuild your credit score. A record of your Bankruptcy will remain on your credit report for 6 years after your discharge for a first time Bankruptcy. You will have the ability to begin rebuilding your credit score even before your discharge.

Licensed Insolvency Trustee, Glenn Steiner, discusses what life will be like after you have been discharged from your Bankruptcy. He also discusses:

Debts that are not included in a Bankruptcy filing
The importance of a good credit rating and how to start rebuilding it
What to do if the information at the credit bureau is wrong
Teaching your kids about savings and the difference between needs and wants
2 mandatory counselling sessions to help you get back on your feet

Licensed Insolvency Trustees are licensed by the federal government and provide unbiased debt advice. They are the only professionals that can file a Bankruptcy or a Consumer Proposal.

About Glenn Steiner

Born and raised in Saskatchewan, Glen has a passion for helping people. He walks them through the various financial options, allowing them to make life changes that can give them a fresh start.

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106 - How to Protect Yourself Against Fraud

info@debtmatters.ca (Debt Matters Team) — Sat, 9 Sep 2023 13:00:00 +0000

Fraudsters and scammers are getting more creative and innovative as technology evolves. They are operating increasingly elaborate schemes and are able to prey on anyone with a phone, email address or a credit card. It’s important to be aware of the different types of scams and to know how to spot them. When it comes to fraud, everyone is a potential target no matter how intelligent or tech-savvy you may be. Fraudsters will use every trick to convince you to send them money or your personal information.

Licensed Insolvency Trustee, David Macdonald, is also a certified fraud examiner. He has in depth knowledge of how fraudsters operate and how you can protect yourself from even the most well-laid traps.

In this podcast David also discusses:

How Artificial Intelligence (AI) is making it easier for fraudsters to harvest person information
What to do if you are a victim of fraud
How to spot red flags
Scare tactics to be aware of
The importance of reporting the crime to the Canadian Anti Fraud Center

If you are struggling financially or have been a victim of fraud, consulting with a Licensed Insolvency Trustee can help you get back on track. They are licensed and regulated by the federal government of Canada.

About David Macdonald

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations.

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105- How Worrying About Debt Can Affect Your Health

info@debtmatters.ca (Debt Matters Team) — Fri, 8 Sep 2023 13:00:00 +0000

Many of us, from all walks of life, are worried about money. There is an abundance of research that indicates that financial worry and stress can have a detrimental affect on both our mental and physical health. Whether the problems stem from a job loss, divorce, unexpected expenses or a combination of factors, stressing about money can take a toll on your overall quality of life.

But no matter how hopeless your situation might seem, help is available. By tackling your money problems head on, you can regain control of your finances - and your life.

Todays’ podcast explores the link between our financial health and our physical health. David Macdonald, Licensed Insolvency Trustee, talks about:

Keeping problem finances a secret - overcoming the stigma
Episodic stress (traumatic event) versus chronic stress (long term)
Finding the right professionals and resources to help
When to seek help and why go see a Licensed Insolvency Trustee
Three most common causes of Bankruptcy: job loss, divorce and medical issues

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. They are considered to be one of the best advisors and will provide you with unbiased advice. Your initial consultation is always free of charge.

About David Macdonald

David brings a practical, down-to-earth approach to his work, without judgement. In his spare time he volunteers his time to a number of charitable and non profit organizations.

Additional Resources

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104- Household Debt and Insolvencies are Surging in Canada

info@debtmatters.ca (Debt Matters Team) — Sat, 2 Sep 2023 13:00:00 +0000

Household debt in Canada has risen steadily year after year. The high levels of debt make the economy vulnerable to any global economic crisis. As a result, more Canadians are having to face insolvency options as it becomes increasingly difficult to manage their debt. In today’s podcast Licensed Insolvency Trustee, Derek Chase, talks about what Canadians high levels of debt mean for you. What can you do to protect yourself?

Derek also discusses:

Federal debt relief programs available
The ripple effect of interest rate hikes
Who keeps track of the Canadian insolvency statistics
Why you need to become financially literate
Involving the whole family in a savings challenge

If you need further advice about how to manage your debt, contact a Licensed Insolvency Trustee. They are federally regulated and licensed by the Canadian government and will give you honest, unbiased advice.

About Derek Chase

Additional Resources

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103 - Is There an Advantage to Paying Off My Consumer Proposal Early

info@debtmatters.ca (Debt Matters Team) — Thu, 31 Aug 2023 13:00:00 +0000

Filing a Consumer Proposal has become the most popular option to help Canadians manage their debt. In fact, 75% of insolvent debtors are choosing to file a Consumer Proposals as opposed to only 25% filing for Bankruptcy. There is good reason for this choice. But what happens if your circumstances change for the better and you are in a position to pay your proposal off sooner? What would be the advantages or would it be disadvantageous?

Derek Chase, Licensed Insolvency Trustee, answers these questions and discusses different scenarios where this may come up. He explains:

Why Consumer Proposals have become so popular
How long a Consumer Proposal lasts and the effect on credit ratings
Why a creditor would agree to accept less than they are owed
When it would make sense to pay the proposal off earlier
Two mandatory counselling sessions when the pros and cons of increasing payments or paying it off would be discussed with your LIT

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government.You can be assured you are receiving the best unbiased advice from these knowledgeable debt professionals.

About Derek Chase

Additional Resources

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102 - Life After Bankruptcy

info@debtmatters.ca (Debt Matters Team) — Fri, 25 Aug 2023 13:00:00 +0000

Contrary to what you may believe, life doesn’t end after Bankruptcy. You will be cleared of your unsecured debts and can start to rebuild your credit and regain financial stability. Once you receive your discharge, you have the opportunity for a fresh start. Filing Bankruptcy may be the best viable option to help you overcome insurmountable financial challenges and take back control of your financial future.

Licensed Insolvency Trustee, Leigh Taylor, discusses what life will be like after Bankruptcy. Other topics covered are:

The stigma of Bankruptcy
Seeing Bankruptcy as a solution not a problem
Two mandatory counselling sessions to develop a contingency plan
The credit rebuilding process
Life after Bankruptcy success stories

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. They can walk you through the Bankruptcy process and help you determine if this might be the best solution for your individual financial situation.

About Leigh Taylor

Additional Resources

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101 - How to Spot Bad Financial Advice

info@debtmatters.ca (Debt Matters Team) — Mon, 21 Aug 2023 18:11:15 +0000

Do you know where to turn for financial advice? We tend to think that anyone calling themselves a Debt Advisor, Debt Consultant, or Credit Counsellor must be qualified and have a formal financial education. This is not always the case. In Canada, anyone can offer debt advice and call themselves an expert. If you are struggling with overwhelming debt, you are probably searching for a debt advisor. But how do you know who you can trust?

Leigh Taylor has been a Licensed Insolvency Trustee for over 40 years. He relates his experience of seeing many people who have been taken advantage of with ‘too good to be true’ promises of debt relief.

In this podcast, Leigh discusses:

How to spot ‘magic bullet’ solutions and how to protect yourself
Lack of regulation around credit/debt counsellor and their companies
Advantages of dealing with local professionals, person to person
Differences between unregulated counsellors and Licensed Insolvency Trustees
Why you shouldn’t pay upfront for debt advice

Licensed Insolvency Trustees (LIT) are considered some of the best debt advisors in the country and are licensed and regulated by the federal government of Canada. There is no cost for your initial consultation where you will be able to find out about all the debt relief options that are available to you.

About Leigh Taylor

Additional Resources

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100 - How Human Nature Leads Us Down the Wrong Financial Path

info@debtmatters.ca (Debt Matters Team) — Sat, 22 Jul 2023 13:00:00 +0000

When it comes to finances, you can probably come up with a list of excuses as to why you haven’t done certain things, like saving money. You can probably come up with another long list of bad financial decisions you have made. Not every financial mistake is a big deal, but some have serious repercussions that could affect you for years to come. It’s important to know how you make decisions that are not in your best financial interest so you don’t have to repeat them.

Regardless of the financial decisions you’ve made, there is always some room for improvement when it comes to managing your money.

Licensed Insolvency Trustee, Francyne Myers looks at healthy financial habits and how we can be led down the wrong path.

About Francyne Myers

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99 - What Is Shrinkflation?

info@debtmatters.ca (Debt Matters Team) — Wed, 19 Jul 2023 15:50:36 +0000

Have you noticed that package sizes seem to be shrinking - that the grocery item in your cart is smaller but the price is the same or even more? This is called shrinkflation and it isn’t new. It’s the inflation that you’re not supposed to see. Manufacturers are quietly shrinking package sizes without lowering the prices. It happens more often in times of high inflation and is impacting almost every packaged product.

It seems that shrinkflation is happening in a grocery store near you and is here to stay. But is there something we can do about it?

Licensed Insolvency Trustee, Francyne Myers, discusses shrinkflation and how it is impacting our budgets. She also covers:

The difference between shrinkflation and inflation
The most common products affected
Navigating ways to make price comparisons
Checking the price of your goods as they are scanned
Consumer education sites

If you are struggling with debt or just need help managing your finances, a Licensed Insolvency Trustee (LIT) should be your first call. They will talk you through all the debt relief options available to you. LIT’s are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Francyne Myers

Additional Resources

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98 - Top Reasons for Declaring Bankruptcy

info@debtmatters.ca (Debt Matters Team) — Thu, 29 Jun 2023 08:00:00 +0000

Most money problems are caused by events beyond our control. It’s a common misconception to think that people who are insolvent have spent their way into Bankruptcy. A job loss, illness, injury or marital breakdown can often be the last straw for someone in a precarious financial position.

In today’s podcast, Derek Chase talks about Bankruptcy and the people who file, from a Licensed Insolvency Trustee perspective. He discusses:

The demographics of who is filing
The most common factors that can lead to Bankruptcy
Surface reasons versus underlying causes of insolvency
How filing for Bankruptcy can free funds to carry on living
The importance of credit counselling after being discharged
Reasons people avoid seeking help

If you are looking for stellar advice about how you can best manage your debt, a Licensed Insolvency Trustee can help. They are federally regulated and licensed by the Canadian government. You can rest assured that you will be treated fairly, without being judged.

About Derek Chase

Additional Resources

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97 - Why You Should File Bankruptcy Before the End of the Year

info@debtmatters.ca (Debt Matters Team) — Tue, 27 Jun 2023 10:00:00 +0000

If you are heading deeper into debt, know you are not alone. Many Canadians are struggling to keep afloat in these precarious times. Filing for Bankruptcy may be your best option, depending on your individual circumstances. But is there a better time of the year to file? You may be surprised to find out that - yes there is. When you declare Bankruptcy will affect how many tax returns you will lose.

In this podcast, Licensed Insolvency Trustee, Derek Chase talks about why Bankruptcy can be the most practical thing to do, often being the fastest, least expensive way to get relief from your debt. He also explains the benefits of filing before the end of the year.

Other optics covered are:

Why professional advice is so very important
How long the Bankruptcy process takes and how much it costs
Consequences of waiting too long
Bankruptcy duties after filing and how to start the process
Red flags to watch for when dealing with debt companies

Licensed Insolvency Trustees can help you take control of your unmanageable debt. They are considered some of the best debt advisors in the country and the only ones licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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96 - What Happens If You Can’t Pay Your Mortgage or Car Loan

info@debtmatters.ca (Debt Matters Team) — Wed, 7 Jun 2023 08:00:00 +0000

Many Canadians increased their debt levels during the pandemic due to low interest rates and now are finding themselves vulnerable to interest rate spikes. In challenging situations, most debtors will typically miss credit card payments, lines of credit or auto loans before mortgages. Whatever payments Canadians are struggling with - the higher interest rates will likely continue stressing household budgets. Experts are predicting a rise in insolvencies in the near future.

How are you coping with skyrocketing inflation and higher interest rates? Are you wondering what might happen if you can’t make your mortgage payment or your next car payment?

Derek Chase, Licensed Insolvency Trustee explains what happens and what you can do if the bank forecloses on your home or your vehicle gets repossessed. Derek also explains:

Each province’s rules differ as to how repossession and foreclosures work
When repossession of your vehicle would be advantages
The rights of secured creditors to foreclose or repossess
Notice required before foreclosure and repossession
Reaching out to your lender when things are getting difficult

If you are struggling to make ends meet, reach out to a Licensed Insolvency Trustee sooner rather than later. They can help you take back control of your finances. They are considered some of the best debt advisors in the country and the only ones licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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95 - What Happens to Your Debt When You Die

info@debtmatters.ca (Debt Matters Team) — Mon, 5 Jun 2023 08:00:00 +0000

It’s a common sentiment that we don’t want to burden our loved ones when we pass away. But despite all good intentions - many Canadians will die in debt. If you die with debt in Canada, does your spouse or kids inherit your debt or does it simply disappear when you do? Which of your debts have to be paid and how is your estate affected?

Licensed Insolvency Trustee, Derek Chase, tackles these questions and explains what you need to know if you are in debt or an executor of a loved one's estate. Derek also answers the following questions:

What kind of debt doesn’t have to be paid?
What happens when there are no assets to sell to pay debt?
Can the estate of the deceased go into Bankruptcy?
How does the CRA handle the debt of the deceased?
At what point do you need professional advice?

Licensed Insolvency Trustees are licensed by the federal government to provide debt advice. You can be assured that the advice you receive from them will be unbiased and have your best interests in mind.

About Derek Chase

Additional Resources

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94 - What Happens When You Receive an Inheritance, Windfall or Your Income Increases While Bankrupt

info@debtmatters.ca (Debt Matters Team) — Fri, 2 Jun 2023 08:00:00 +0000

Receiving money from an inheritance or some sort of random windfall is something we all dream about. But what happens when that dream becomes a reality and the money becomes payable to you when you are in Bankruptcy? And what happens if your financial situation improves while you are bankrupt?

These questions and more are answered by Julie Drane, Licensed Insolvency Trustee with Allan Marshall & Associates. Julie also discusses:

Surplus income - how it is calculated and when it is payable
Receiving an inheritance or windfall after filing a Consumer Proposal
How to start rebuilding your credit score
When it is advantages to switch from Bankruptcy to a Consumer Proposal
Changes to your Bankruptcy or Consumer Proposal if your income increases or marriage breaks up

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management and adhere to strict ethical guidelines. You can be assured you are receiving the best unbiased advice.

About Julie Drane

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

Additional Resources

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93 - Bankruptcy BC Canada: What Are the Options?

info@debtmatters.ca (Debt Matters Team) — Mon, 29 May 2023 12:00:00 +0000

More and more Canadians are finding it difficult to keep their head above water, financially. Debt can be debilitating no matter what province you live in. British Columbia is no different. Carrying debt comes at a high cost. The stress of managing your finances in these unpredictable times can also have an emotional toll. But you don’t have to go it alone. Licensed Insolvency Trustee, Julie Drane, talks about the debt relief options available to BC residences.

How the debt cycle starts and who is using food banks now
At what point should you seek professional help
Licensed Insolvency Trustee - their qualifications and licensing
The range of debt solutions available
The difference between a Consumer Proposal and Bankruptcy
Benefits of counselling sessions

Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada.

About Julie Drane

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

Additional Resources

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92 - Planning Your Retirement in Canada

info@debtmatters.ca (Debt Matters Team) — Fri, 26 May 2023 08:00:00 +0000

Retirement isn’t the same as it was in our parents' day. Declining workplace pension plans and the increased lifespan of Canadians are factors that need to be taken into account when planning. When you start saving and investing can make a difference in how much retirement income you will eventually have access to. But wherever you are on the scale, retirement planning can provide you with an outline of where you want to go and how you’ll get there.

How prepared are you for your retirement? Are there things you can be doing now to compensate for the loss of your income in the future?

Bonnie Hooley answers these questions and more. She discusses:

How the inflation rate affects retirement income
Having debt when you retire
Health insurance, life insurance and estate planning
Making lifestyle adjustments - living on 70% of your income
Clearing up debt before retirement
Talking to an expert sooner rather than later

Speaking with a Licensed Insolvency Trustee ensures that you are getting the best qualified advice. They are federally regulated and licensed by the Canadian government and will give you information you can trust.

About Bonnie Hooley

Additional Resources

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91 - When Debt Is Not A Four Letter Word

info@debtmatters.ca (Debt Matters Team) — Tue, 23 May 2023 00:00:23 +0000

Debt is sometimes divided into two categories - good and bad. It’s important to understand the difference between the two so you can improve your financial situation. But as we all know, nothing is ever all good just like nothing is ever all bad. Can good debt turn into bad? And is there ever a circumstance where bad debt turns into good?

In this timely podcast Licensed Insolvency Trustee, Bonnie Hooley, lifts the lid on Canadian’s finances and their debt. Topics covered include:

Resisting the urge to overextend when taking out a mortgage
Intelligent ways to use credit cards
When renting may be better than buying
Cash back credit cards with annual fees
Using a secured line of credit to pay off unsecured debt

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of finances and debt management from budgeting to Bankruptcy.They are considered some of the best debt consultants in the country and will provide you with unbiased advice.

About Bonnie Hooley

Additional Resources

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90 - Why Is It Important to Support Local Businesses

info@debtmatters.ca (Debt Matters Team) — Sat, 13 May 2023 10:17:13 +0000

Shopping where you live has a huge impact on the local economy. Your support can be far-reaching as every dollar spent locally gets circulated 3 or 4 more times ensuring your money stays in the community. While it’s not always possible to buy everything you need locally, finding a balance between e-commerce sites and buying locally can be a step in the right direction. Today’s podcast features Leigh Taylor, Licensed Insolvency Trustee and Bruce Duggan, Associate Professor of Management at Providence Buller School of Business. Bruce and Leigh discuss what it means to the local economy of locally owned businesses.

Their discussion also covers:

Advantages of buying local and how to support local businesses
The price local economies pay for the convenience of online shopping
Possibility of a recession in Canada
The high level of consumer debt - rising 5-6% per year
Advantages of dealing with a local Licensed Insolvency Trustee

If you are having financial difficulties, whether business or personal, talking to a local Licensed Insolvency Trustee should be your first call. You will have the opportunity to meet them face to face in your initial consultation and be assured they are knowledgeable about provincial regulations.

About Leigh Taylor

Additional Resources

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89 - Can CRA Seize Wages or Freeze Bank Account?

info@debtmatters.ca (Debt Matters Team) — Thu, 27 Apr 2023 08:00:00 +0000

Tax debt is one of the most serious kinds of debt given the powers of the CRA to collect. The main difference between the CRA’s and other creditors' ability to collect, is that they can freeze your bank account without a court order. Since they don’t need to go to court, they are much more likely to use this method. This is a very strong power and one of the ways that the CRA pressures people into paying their debts. Can the CRA freeze your bank account without notice? What can you do when this happens and how can you avoid it? Derek Chase, Licensed Insolvency Trustee, answers these questions.

Derek also discusses:

How to stop wage garnishment and unfreeze bank accounts
When a Stay of Proceedings can be put in place
How to communicate with the CRA
Work out a payment plan to avoid penalties and collection practices
Consulting with a Licensed Insolvency Trustee and the services they provide

If you are struggling with tax debt and need someone to talk to, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Derek Chase

Additional Resources

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88 - Financial Literacy: Guide to Personal Finances

info@debtmatters.ca (Debt Matters Team) — Wed, 26 Apr 2023 08:00:00 +0000

Financial literacy is the ability to understand and effectively use skills such as budgeting, saving, taxation, and investing. When you are financially literate you have the foundation of a relationship with money. Achieving financial literacy is crucial in today’s world as we navigate through everyday facets of life, such as student loans, mortgages, credit cards, investments and at some point - retirement. But not all of us can afford the time to get a degree in finance. The old joke of how you eat an elephant - just one bite of a time comes to mind when Licensed Insolvency Trustee, Derek Chase breaks financial literacy down for us.

Derek discusses:

A starting point to change the family lineage financial illiteracy
Importance of finding a mentor
Where to find resources with good Canadian content
Strategies to make time to learn
The payoff of families and partners pulling together and getting onboard

If you are struggling with your finances, Licensed Insolvency Trustees can help you get back on track. From budgeting to Bankruptcy, they are considered one of the best resources to consult, licensed and regulated by the federal government of Canada.

About Derek Chase

Additional Resources

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87 - Can You Cancel a Consumer Proposal?

info@debtmatters.ca (Debt Matters Team) — Tue, 25 Apr 2023 08:00:00 +0000

If you are overwhelmed with credit card debt, student loans, tax debt, payday loans or any other unsecured liabilities filing a Consumer Proposal may be your best option. A Consumer Proposal is a debt settlement solution where an offer is made to your unsecured creditors to settle your debts. When the terms are agreed upon, you will then make affordable monthly payments with no interest for up to 5 years. A proposal is based on your financial circumstances at the time of filing. But what happens if your circumstances change or you simply change your mind? Can you cancel or withdraw?

These are questions answered by Matthew Fader, a Licensed Insolvency Trustee at Allan Marshall & Associates. Along with cancellation information, Matthew also discusses:

Why a Consumer Proposal in a good alternative to Bankruptcy
How long creditors have to approve a proposal
The importance of being properly informed before you file
Withdrawing a Consumer Proposal before 60 days
What happens when there is joint debt
Consequences of defaulting payments for 3 months
Filing for Bankruptcy while in a Consumer Proposal

Licensed Insolvency Trustees can help you make the best decision about how to get your finances back on track. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada.

About Matthew Fader

Licensed Insolvency Trustee Matthew Fader has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect.

Additional Resources

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86 - How to Budget and Save for Retirement

info@debtmatters.ca (Debt Matters Team) — Mon, 24 Apr 2023 09:00:00 +0000

Canadians think they need savings of $1.7 million to retire according to a recent BMO survey. WIth a large majority of people struggling to make ends meet, saving for retirement seems out of reach. Realistically, how much do you need to retire? And what happens if you don’t have enough money saved? How much longer will you have to keep working before you can retire?

Licensed Insolvency Trustee, Matthew Fader talks about what Canadians are doing to prepare and how you can budget for your retirement. Other topics covered are:

Why slowing down may be the new version of retirement
Shifting perception and retirement trends
Saving while in debt
Options to get you back on track
Free or cost effective resources available

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you unbiased advice about your finances and options for managing your debt.

About Matthew Fader

Additional Resources

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85 - How to Cope With Financial Stress

info@debtmatters.ca (Debt Matters Team) — Tue, 11 Apr 2023 08:00:00 +0000

Most of us have experienced money stress to some degree, but left unchecked, it can put you in a state of fear which can prevent you from facing your situation and moving forward. Financial worries can have an adverse effect on both your psychological and physical health. Taking measurable action to improve your economic situation can help you overcome financial stress. These are unprecedented times we are living in as rising prices are putting even more pressure on fragile finances.

Francyne Myers, Licensed Insolvency Trustee, talks about the financial stress most Canadians are dealing with. She covers:

How conventional wisdom does not apply anymore in this
Mortgage renewal advice and negotiating with your bank
Tracking your expenditures - even the small ones
Government savings programs for homebuyers
Money saving tips

If you are struggling with debt and can’t seem to find a way out, contact a Licensed Insolvency Trustee where you live. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Francyne Myers

Additional Resources

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84 - What Is the Importance of Last Will and Testament?

info@debtmatters.ca (Debt Matters Team) — Mon, 10 Apr 2023 08:00:00 +0000

A will is a legal and binding document that allows you to determine how you want to have your assets distributed after you die. Having a will in place gives you a chance to clearly communicate your intentions and to name an Executor that will manage your estate according to your wishes. Do you actually need a will if you don’t have a lot of assets? The short answer is ‘absolutely’. Licensed Insolvency Trustee, Francyne Myers, will tell you why.

This podcast covers:

The importance of having a will and what happens if you don’t
How not having a will affects common law partners and step children
Cost of preparing a will
Using a will kit versus an estate lawyer
Why naming an Enduring Power of Attorney and Executor is important

Licensed Insolvency Trustees do more than file insolvencies. They are licensed and regulated debt professionals that can give you unbiased advice about your financial affairs.

About Francyne Myers

Additional Resources

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83 - Canada’s Rising Interest Rates and Consumer Debt

info@debtmatters.ca (Debt Matters Team) — Sun, 9 Apr 2023 08:00:00 +0000

Very few Canadians are 100% debt-free. Debt is normal but over the past year consumer debt has notably increased. Even though inflation is slowly easing, it is still relatively high. Unfortunately wages haven’t grown with inflation leaving the average Canadian with less money to spend. This means many have had to increase their reliance on credit cards to purchase necessities. This timely podcast features Licensed Insolvency Trustee, Leigh Taylor, discussing the rise of consumer debt in Canada and what the future might look like. What can you do when your debt is mounting and where you can turn.

Leigh also covers:

How past low interest rates are contributing to insolvencies
The possible effects of a looming recession
Insolvency statistics
First signs of debt becoming and problem and steps to take
Why a Licensed Insolvency Trustee should be your first port-of-call

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you require assistance in creating a better budget or need to file for Bankruptcy, you can be assured they will go through all of the options available before you make a decision.

About Leigh Taylor

Additional Resources

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82 - How to Rebuild Your Credit After a Consumer Proposal or Bankruptcy

info@debtmatters.ca (Debt Matters Team) — Wed, 1 Mar 2023 09:00:00 +0000

As the cost of living continues to rise, more Canadians are finding themselves in financial trouble. While it’s normal to have some level of debt, it becomes a problem when it becomes unmanageable. According to a recent report from Equifax, the average credit score of Canadians is between 600 and 650. People with scores equal or above 650 are considered to be financially stable and those above 760 are considered excellent.

But what happens to your credit score if you file for Bankruptcy or a Consumer Proposal? How is your credit rating affected and how can you rebuild it?

Licensed Insolvency Trustee, Mary-Ann Marriot answers those questions and more. She also covers:

How long it takes to rebuild your score
The difference between your credit score and your credit worthiness
Common mistakes made when rebuilding credit scores
How often you should check your score
Credit reporting services: Borrowell and Credit Karma
Applying for credit after an insolvency and secured credit cards

If you need advice about anything from budgeting to Bankruptcy contact a Licensed Insolvency Trustee. They are federally regulated and licensed by the Canadian government and will give you honest, unbiased advice.

About Mary-Ann Marriot

Additional Resources

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81 - Will a Spending Freeze Help My Debt Problem

info@debtmatters.ca (Debt Matters Team) — Fri, 24 Feb 2023 09:00:00 +0000

A spending freeze is simply a commitment you make to not spend money on anything that isn’t necessary. You would still pay your bills and make sure your family is fed and taken care of, but no other spending is allowed. Taking this challenge can reset the way you think about money. Licensed Insolvency Trustee, Mary Ann Marriott speaks from personal experience, setting up her own personal spending freeze. She talks about the pros and cons and how being aware of your spending habits can help you reevaluate what is important.

Mary Ann also covers:

Using the spending freeze as a learning tool
Identifying needs from wants and shedding light on spending habits
The benefits of practicing delayed gratification
Fun ways to make the freeze affective
Choosing a realistic time frame

If you are having financial difficulties and need advice about budgeting or how to get out of debt, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Mary-Ann Marriot

Additional Resources

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80 - Tax Trouble When Self Employed

info@debtmatters.ca (Debt Matters Team) — Wed, 22 Feb 2023 09:00:00 +0000

If you earn income from a sole proprietorship or partnership, in other words self employed, you’re responsible for tracking your income and expenses and paying taxes. But as you know or will find out, self employed taxes are a bit more complicated than regular taxes. Ideally, to keep on top of your taxes, they should be paid quarterly or annually to avoid any interest charges or penalties. But many self employed people don’t live in that ideal world and struggle with bookkeeping and accounting.

Derek Chase has been a Licensed Insolvency Trustee for over 25 years and shares his knowledge about filing taxes and avoiding tax debt. In this podcast he covers:

Different types of taxes for the self employed
Consequences of missing deadlines or not filing taxes
Fines, penalties, and interest rates charged by the CRA
Strategies to stay on top of your taxes
Advantages of hiring a bookkeeper

If you are struggling with tax debt and need advice, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Derek Chase

Additional Resources

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79 - Financial Literacy in School

info@debtmatters.ca (Debt Matters Team) — Mon, 20 Feb 2023 09:00:00 +0000

Money management isn’t always easy but teaching it to our kids can be just as difficult. But if they grow up without a proper understanding of their finances it can create a gap in their life skills. Although some schools do teach the basics of financial literacy, we can still have an impact on our kids' understanding of money. Talking about finances and finding teachable moments can give them the leg up that may make all the difference in their lives.

Licensed Insolvency Trustee, Derek Chase, shares his thoughts about how to better prepare our kids for their financial future. He covers the following topics and more:

When is the right time to start
The practically of handling their own money
Teaching the different acronyms and explaining their functions
Advantages and eventual outcomes of starting to save early
The cost of holding debt and not filing taxes
Resources such as The Wealthy Barber

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. With their knowledge and expertise you can be assured they will give you the best unbiased advice.

About Derek Chase

Additional Resources

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78 - Insolvency From the Debtor’s Perspective

info@debtmatters.ca (Debt Matters Team) — Thu, 16 Feb 2023 09:00:00 +0000

Everyday there are more signs that Canadians are struggling with inflation and the skyrocketing cost of borrowing, finding it increasingly difficult to make ends meet. Many are leaning on credit. But when is it time to acknowledge the fact that you are in over your head and need to reach out for help? Leigh Taylor has been a Licensed Insolvency Trustee for over 40 years. His experience helping people with their unmanageable debt has given him a solid understanding of the stresses and emotional toll being in deep debt causes.

Leigh talks about:

Warning signs that you are in over your head
Relationship problems caused by debt
The embarrassment financial difficulties causes
Tax and repayment requests - financial fallout from COVID
When and where to seek help
Advantages of dealing with a local Licensed Insolvency Trustee

If you are struggling with insurmountable debt and need someone to talk to, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Leigh Taylor

Additional Resources

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77 - Divorce and Debt: What You Need to Know

info@debtmatters.ca (Debt Matters Team) — Wed, 15 Feb 2023 09:00:00 +0000

Divorce is not an easy process but when there is a substantial amount of debt involved, it can be more complex. Along with the many legal consequences, filing for Bankruptcy comes with an emotional aspect that can sometimes be overwhelming. Your marital assets will be affected by the timing of your Bankruptcy. Talking to a professional before you make any decisions will allow you to determine what is best for you and your spouse.

In today’s podcast, Licensed Insolvency Trustee, Leigh Taylor, talks about divorce and debt. Topics discussed include:

How does filing Bankruptcy or a Consumer Proposal affect the divorce?
What happens to joint and individual debt?
When to declare Bankruptcy - before or after filing for divorce?
Does filing Bankruptcy discharge spousal and child support?
The emotional component of divorce

If you need further advice about the timing of your Bankruptcy vs your divorce, contact a Licensed Insolvency Trustee. They are federally regulated and licensed by the Canadian government and will give you honest, unbiased advice.

About Leigh Taylor

Additional Resources

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76 - Warning Signs You Have a Debt Problem

info@debtmatters.ca (Debt Matters Team) — Tue, 24 Jan 2023 09:00:00 +0000

The news is full of stories about the rise of household debt. More Canadians are having to rely on their credit cards to make their paycheques stretch. Financial trouble can stem not from the amount of debt that you owe but your ability to repay that debt. Whereas some people struggle with $1,000 dollars of debt, others can handle $100,000.

How do you know when you are heading for trouble? Licensed Insolvency Trustee, Amanda Sherwood discusses the warning signs you may have a debt problem.

About Amanda Sherwood

Additional Resources

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75 - What Happens to My Debt if My Spouse Files Bankruptcy?

info@debtmatters.ca (Debt Matters Team) — Mon, 23 Jan 2023 09:00:00 +0000

Debt problems can cause stress in any relationship. But what happens when one partner files for Bankruptcy? How does it affect the other? To understand what happens to your spouse’s finances, first it is important to know what the difference is between personal debt and joint debt. As a Licensed Insolvency Trustee, Amanda Sherwood, helps couples navigate insolvency, as each family situation is unique. In this podcast find out:

What happens to your spouse’s/partner’s credit score when you file Bankruptcy
When you get married are you marrying your partner’s debt also?
The benefits and drawbacks of separate or joint finances
Co-signing loans - who is responsible when one defaults
Personal information needed by a Licensed Insolvency Trustee from both parties

If you and your partner are having financial difficulties and need solid advice, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Amanda Sherwood

Additional Resources

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74 - How to Start the New Financial Year Strong

info@debtmatters.ca (Debt Matters Team) — Wed, 4 Jan 2023 09:00:00 +0000

Financial resolutions are merely money goals that you commit to attaining. The start of a new year is a perfect time to set the course to get back on track with your financial health. New Year money resolutions can help you get to where you want to be. Where would you like to be financially one year from now? Establishing a start date like the new year, makes it easier to commit and less likely you find excuses to procrastinate.

Today’s podcast features Bonnie Hooley, Licensed Insolvency Trustee, talking about setting attainable financial resolutions. She also discusses:

Finding resolutions that make sense to you
Purposeful spending within your budget
Short, medium and long term goals
Compound interest calculator for savings
Ways of working together with your partner
The number one financial resolution to focus on

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of finances and debt management from budgeting to Bankruptcy. They are considered some of the best financial advisors in the country and will provide you with unbiased advice.

About Bonnie Hooley

Additional Resources

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73 - Finding New Ways To Avoid The Christmas Debt Hangover

info@debtmatters.ca (Debt Matters Team) — Tue, 3 Jan 2023 09:00:00 +0000

For many Canadians, overspending on Christmas is just a way of life. After all, is it not the season of giving and forgiving? But after the tree comes down and the lights are put away, you may be left with a holiday hangover, dreading the mailman’s arrival in January. This debt cycle isn’t going to end unless you decide that you’ve had enough. And if this is the year you draw that line in the sand - this is the podcast for you. Licensed Insolvency Trustee, Bonnie Hooley discusses Christmas debt hangovers and how to avoid them. If you regret overspending again this year on gifts, travel, food or other forms of holiday merriment, tune in to this podcast.

Bonnie also covers:

Coming to terms with feelings of regret after the holidays
Traditions that are no longer practical and do not serve any more
Planning ahead and setting realistic goals
Avoiding impulse buying
Creative ways to give that are affordable and meaningful

If you have overspent this holiday season and are deep in debt, a Licensed Insolvency Trustee can help you get your finances back on track. They are the only federally regulated debt advisors in Canada and will give you honest advice about the options that are available to you.

About Bonnie Hooley

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72 - What Happens to Tax Refunds in a Bankruptcy or Consumer Proposal

info@debtmatters.ca (Debt Matters Team) — Wed, 28 Dec 2022 09:00:00 +0000

Despite their differences, Consumer Proposals and Bankruptcy both guarantee protection from creditors. But both debt relief options are unique in how they deal with tax refunds. In a Bankruptcy, your Trustee will prepare and file your returns and any refunds will be distributed to your creditors. In a Consumer Proposal, you are required to file your own returns and must be up to date with past filings. If you do not owe the CRA money and are entitled to a tax refund, you make keep it.

Licensed Insolvency Trustee, Derek Chase, walks us through the different scenarios and how when you file may have an impact on your tax returns. He also covers:

When it is advantageous to file a Consumer Proposal vs Bankruptcy
The best time of the year to file
What happens to the money if you are owed a tax refund
Effect on GST and Canada Child Benefits
CRA’s Right of Set-Off to offset tax debts

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest advice about all the debt relief options available to you while taking into account your tax situation.

About Derek Chase

Additional Resources

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71 - How to Prepare for the Year Ahead

info@debtmatters.ca (Debt Matters Team) — Sun, 25 Dec 2022 09:00:00 +0000

The start of a new year is a great time to set goals especially around your personal finances. By setting financial resolutions, you can move forward into the coming year with added security and stability. If you have overspent or strayed from your holiday budget, now is the time to get back on track. Licensed Insolvency Trustee, Mark Marshall, shares his experiences and talks about ways to set the course to improve your finances in the coming year.

Mark also discusses:

Setting realistic goals
Tips for making your financial plan
Tracking expenses for an accurate assessment of your finances
Short, medium and long term goals
Accountability challenges with your friends

Licensed Insolvency Trustees can help you take control of your finances. From simple budgeting techniques to insolvency filings, they are considered some of the best financial advisors in the country, licensed by the federal government of Canada.

About Mark Marshall

Additional Resources

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70 - How to Celebrate a Credit Free Holiday

info@debtmatters.ca (Debt Matters Team) — Fri, 23 Dec 2022 10:00:00 +0000

A merry Christmas shouldn’t depend on how much money you spend. But if you are someone who is obsessed with picking up the perfect gift for family and friends, feeding and entertaining them - it can often mean facing tough credit card debt in the New Year. If the holiday season is something you haven’t budgeted for in the past, maybe it’s time to get ahead of the mage next year by starting early. In today’s podcast, Licensed insolvency Trustee, Derek Chase talks about avoiding Christmas credit card debt.

Derek also covers the following topics:

Breaking the cycle of big gift giving
Changing your mindset - focusing on experiences and relationships
Budgeting for Christmas 2023
Using your circle of influences to come up with new ideas
Having conversations about what is important and realistic
Advice for better finances for the year ahead

Looking for the best financial advice? Look no further than a Licensed Insolvency Trustee in your area. With their extensive knowledge of financial services you can be assured that you are getting the best qualified advice.

About Derek Chase

Additional Resources

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69 - Celebrating the Holidays Without Breaking the Bank

info@debtmatters.ca (Debt Matters Team) — Fri, 23 Dec 2022 08:00:00 +0000

For many Canadians, overspending at Christmas is just a way of life. But the cycle of going into debt to buy presents isn’t going to end until you change the way you ‘do’ Christmas. There are ways you can still have a holly jolly celebration without dreading the January credit card statements. A merry Christmas doesn’t have to depend on how much money you spend. Sharing time making memories with family and friends without overspending can be the new normal.

Licensed Insolvency Trustee, Mark Marshall shares his personal experiences and a few ideas of how to scale back on Christmas giving. Other topics discussed are:

Cost effective ways to give
Importance of communicating with family members about gift giving
Community associations that help with presents for children
Incorporating the Yankee swap game into your gift exchange
Boxing Day and thrift store shopping

If you are drowning in debt this holiday season or at any time of the year, speak to a Licensed Insolvency Trustee. They are federally regulated and approved by the Canadian government and will give you honest advice and help you find a solution to your debt problem.

About Mark Marshall

Additional Resources

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68 - Self Employed Individuals and Income Tax Implications

info@debtmatters.ca (Debt Matters Team) — Fri, 2 Dec 2022 10:00:00 +0000

When you decide to start your own business, you must consider the type of business structure that best suits your needs. The most common forms are either a sole proprietorship or a corporation. Both have different tax benefits and implications. Licensed Insolvency Trustee, Glenn Steiner talks about the differences between sole proprietorship and corporations. The advantages and disadvantages of being a director of a corporation or choosing to be a sole proprietor.

Topics covered in this podcast include:

Tax filing and source deduction remittances to the CRA
Personal liabilities for debt as a sole proprietor vs a director of a corporation
How incorporating will protect your assets
What happens to the company’s debt if the business fails
CRA’s Directors Liability can decide you personally owe tax for your business

If you have a business that is in financial trouble, contact a Licensed Insolvency Trustee. They are considered to be the best financial advisors in the country and the only ones licensed by the federal government of Canada. You can be assured they will give you the best unbiased advice about debt relief options.

About Glenn Steiner

Glenn received his Trustee license in 1998, working in various departments in the public service for 30 years. Since 2011 he has been working in the private sector in Alberta as a Licensed Insolvency Trustee. Born and raised in Saskatchewan, Glen has a passion for helping people. He walks them through the various financial options, allowing them to make life changes that can give them a fresh start.

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67 - Consumer Proposals: Why Is It a Good Option for Some Debtors?

info@debtmatters.ca (Debt Matters Team) — Thu, 1 Dec 2022 10:00:00 +0000

Canadians’ confidence in their personal finances and ability to repay their debt has hit a record low. As inflation continues to rise, many are pulling out their credit cards and living on borrowed cash. If your unsecured debt has also hit record highs and is becoming unmanageable, you are probably investigating your options. In today's podcast, Licensed Insolvency Trustee, Glenn Steiner explains how and when a Consumer Proposal may be the best way to tackle your debt.

Here is just a few of the questions answered:

What is the process involved in filing a Consumer Proposal?
Can tax debt be included in the proposal?
What kind of debt cannot be included?
What happens if your income increases or you receive an inheritance?
Can you pay off the Consumer Proposal quicker?

If you are losing sleep over your finances the first port of call should be a consultation with a Licensed Insolvency Trustee. They are licensed by the federal government to provide debt advice and are the only professionals that can file a Bankruptcy or a Consumer Proposal.

About Glenn Steiner

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66 - Business Bankruptcy in Canada

info@debtmatters.ca (Debt Matters Team) — Tue, 29 Nov 2022 10:00:00 +0000

As Canadians businesses struggle to find their feet in a new post pandemic era, a significant number report their concern over the potential for Bankruptcy. Add to the mix staff shortages, skyrocketing inflation and rising interest rates - it is a critical time for many small businesses. How does Bankruptcy work for the self employed vs an incorporated or limited company? Derek Chase, Licensed Insolvency Trustee, discusses business Bankruptcy and how it affects individuals within the business.

He also covers:

The difference in the terminology between the US and Canada
How various businesses are structured
The decision making process with a Licensed Insolvency Trustee
How employees are covered with the Wage Earners Protection Act
Company Creditors Arrangement Act - Division One Proposals
Steps for filing a business Bankruptcy

If you are struggling financially with your business, Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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65 - Does Bankruptcy Clear Tax Debt in Canada

info@debtmatters.ca (Debt Matters Team) — Mon, 28 Nov 2022 16:00:00 +0000

The Canada Revenue Agency (CRA) has special powers for collections of unpaid taxes. These may include wage garnishments, freezing bank accounts, seizure of investments or putting a lien on your home. But when it comes to the Bankruptcy & Insolvency Act, the CRA is treated like any other creditor in a Consumer Proposal or a personal Bankruptcy. Licensed Insolvency Trustee, Derek Chase, shed some light on the subject of taxes - unpaid taxes, unfiled taxes and ways to deal with tax debt.

Other topics covered in this podcast are:

Different kinds of tax debt
CRA’s penalties and fees
When you receive an unfair assessments from the CRA
Consequences of not filing your taxes
Options when dealing with tax debts

If you have tax debt that you cannot manage, speak to a Licensed Insolvency Trustee. They are federally regulated and approved by the Canadian government, and will give you honest advice about the options available to you.

About Derek Chase

Additional Resources

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64 - What Is a Credit Rating and How Does It Work?

info@debtmatters.ca (Debt Matters Team) — Sat, 12 Nov 2022 11:00:00 +0000

If you’ve ever borrowed money to buy a car or applied for a credit card, you have a credit report. Your credit score is considered a measure of your financial health and financial trustworthiness. It is a key consideration for your future financial plans.vAre you familiar with how the credit reporting system works? Most of us know we should have a good score but don’t understand why or how we can improve it. Jillian Taylor-Mancusi, Licensed Insolvency Trustee talks about this somewhat mysterious system that judges our financial worthiness.

Here are a few of the topics covered in this podcast:

Why your credit score matters
The difference between credit reports and credit scores
Who has access to your credit scores
Conventional lenders and high risk lenders
Best ways to build and rebuild your score
What a hard hit and a soft hit is when checking your credit score

If you are having financial difficulties and need someone to give you solid advice, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines.

About Jillian Taylor-Mancusi

Jillian is a Licensed Insolvency Trustee in Manitoba and Northern Ontario. She has been working in the insolvency field since 1992. A member of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP), Jillian also serves as chair for Dressage Winnipeg.

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63 - When Is the Best Time to Go Bankrupt?

info@debtmatters.ca (Debt Matters Team) — Thu, 10 Nov 2022 09:00:00 +0000

No one ever sets out to go bankrupt but life happens. Dealing with unmanageable debt can spill over into other parts of your life. It can affect your personal health, your relationships, and your overall well being. Filing a Bankruptcy can be the best way forward. Is there a better time of the year to file for Bankruptcy? How will filing affect your taxes and what happens to the money if you are entitled to a refund? Licensed Insolvency Trustee, Jillian Taylor-Mancusi answers these questions and more. She explains how pre-filing and post-filing taxes are handled when you are in Bankruptcy.

About Jillian Taylor-Mancusi

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62 - Better Budgeting: How to Stretch Your Dollars

info@debtmatters.ca (Debt Matters Team) — Thu, 20 Oct 2022 08:00:00 +0000

High inflation can make budgeting an even bigger challenge than usual and with prices rapidly rising, it can seem almost impossible. Higher prices mean you may need to be more strategic about your spending in order to stretch your income. Learning how to budget for periods of high inflation can help you rethink how you spend your money. Living in these times of high inflation all comes down to budgeting. Francyne Myers, Licensed Insolvency Trustee, talks about how you can budget your way through rising costs.

More than budgeting, she speaks about:

Maximizing your dollars - getting more bang for your buck
Household spending - defining your priorities
The difference between secured debt and unsecured debt
Challenging yourself to a spending moratorium - not purchasing anything for a set period of time
Grocery shopping - meal planning, making lists, and using cash
Instore credit cards - taking advantage of points

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. From budgeting to Bankruptcy, you can be assured you are receiving the best unbiased advice from these knowledgeable professionals.

About Francyne Myers

Additional Resources

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61 - Cultivating Financial Independence In Your Children

info@debtmatters.ca (Debt Matters Team) — Wed, 19 Oct 2022 07:00:00 +0000

We all want the best for our children. That doesn’t necessarily mean you want them to have the best but you want them to make the best decisions. One of the key lessons that will have an enormous impact for the rest of their lives - is the lesson about money. The earlier they learn financial literacy, the greater the long-term impact. But how do you cultivate financial independence in your children? When is the best time to start? Licensed Insolvency Trustee, Francyne Myers (and mother of 2 teenagers) shares her experiences and gives her advice.

She covers these topics and more in this podcast:

How to teach your children to save
Tactile experience of young kids handling money and having their own allowance
High standards set by social media
When they should start paying for their own car, gas, phone
The art of switching from being a parent to being a consultant in your grown child’s life

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of financial management. With their knowledge and expertise you can be assured they will give you the best unbiased advice.

About Francyne Myers

Additional Resources

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60 - Dating and Finances: How to Talk Money in a Relationship

info@debtmatters.ca (Debt Matters Team) — Tue, 11 Oct 2022 08:00:00 +0000

It’s a well known fact that money is one of the most common subjects that couples argue about. Research has shown that the more couples argue over money, the more likely the relationship is to break up due to financial concerns. But money doesn’t have to be a wedge in your relationship - whether you are just starting out or you are in a long term relationship. With practice, you and your partner can learn to talk about finances in a healthy way.

Derek Chase, Licensed Insolvency Trustee shares his advice about how and when to tackle those awkward money conversations. In this podcast Derek also discusses:

When, in a new relationship, is the right time to talk about finances
Finding out about your partner's attitude towards money and debt
Warning signs at the beginning of a relationship to be aware of
The importance of working towards common goals
Taking advantage of premarital counselling

Licensed Insolvency Trustees are the only professionals licensed by the federal government of Canada. You can be assured that they offer unbiased advice about managing your finances.

About Derek Chase

Additional Resources

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59 - Bankruptcy and Future Employment: Can Bankruptcy Affect My Job?

info@debtmatters.ca (Debt Matters Team) — Tue, 11 Oct 2022 06:00:00 +0000

Recent studies have found that most Canadians’ pay raises haven’t matched the increase in the cost of living. As a result, personal Bankruptcies across Canada are spiking. But what happens to my job if I file for Bankruptcy? Will my employer find out and is there a possibility that I may lose my job? These are relevant questions that most people worry about when they are searching for debt relief options. Licensed Insolvency Trustee, Derek Chase answers these questions and dispels some of the myths around Bankruptcy.

Derek also discusses:

Who actually will know that you have filed for Bankruptcy
When your employer may find out
How and when your Bankruptcy may affect your future employment
The importance of following through and receiving a discharge
Why a Consumer Proposal may be a better choice

Licensed Insolvency Trustees are the only debt professionals licensed to administer Bankruptcies and Consumer Proposals. These two insolvency procedures are designed to help honest debtors out of debt and onto a path towards a brighter financial future.

About Derek Chase

Additional Resources

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58 - How Soaring Inflation Can Affect Your Budget

info@debtmatters.ca (Debt Matters Team) — Thu, 8 Sep 2022 09:00:00 +0000

Inflation remains prevalent across all aspects of our lives, not just concentrated in a few areas such as food and gas. Alongside this, wage increases are not keeping up with inflation and households are losing purchasing power. Experts say it will be a while before Canadians can breathe a sigh of relief. How are we Canadians coping with rising interest rates and inflation? What advice could help us through these precarious times? Derek Chase, Licensed Insolvency Trustee tackles these questions and shares his thoughts on adjusting our spending habits and budgets.

About Derek Chase

Additional Resources

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57 - Should You Invest in ETFs With Little Money

info@debtmatters.ca (Debt Matters Team) — Thu, 8 Sep 2022 08:00:00 +0000

Exchange-Traded funds (ETFs) are an easy way to begin investing. THey are simple to understand and can generate good returns without much effort or expense. Investors are able to buy stocks or bonds that may not be easily accessed otherwise. Why would Licensed Insolvency Trustee, Derek Chase be talking about ETFs? For the most part, because that is what is discussed in one of the mandatory counselling sessions after completing a Bankruptcy or Consumer Proposal. What can you do with your extra money when you don’t have massive debt to service?

Derek answers the following questions:

What are the advantages of investing in ETFs?
Is there a difference between an ETF and Mutual Funds?
How do you know an ETF is the right choice for you?
Have you identified what your risk tolerance is before investing?
What are the tax benefits and how do you go about setting up an ETF?

Although Licensed Insolvency Trustees don’t give investment advice, they are knowledgeable about products such as ETFs, RRSPs, TFSAs. With accounting and finance backgrounds, LITs are well qualified to help you become debt free, giving you a fresh financial start.

About Derek Chase

Additional Resources

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56 - Best Debt Consultant: Find the Right One for You

info@debtmatters.ca (Debt Matters Team) — Mon, 5 Sep 2022 08:00:00 +0000

It’s not easy to find the right debt relief solution that will help you get out of debt. Internet searches and TV advertisements can be misleading in their promises. Where can you turn for the best advice? Today’s podcast will shed some light on the murky waters of debt counselling. Leigh Taylor, Licensed Insolvency Trustee, takes a look at the different services explaining what they can and can’t do.

Here’s a few of the questions Leigh addresses:

Where do you start when you want advice about managing your debt?
What is the difference between a Debt Consultant, Credit Counsellor and a Licensed Insolvency Trustee?
What are the qualifications and licensing of each service?
Why should you deal with a local professional?
Are the laws the same in each province?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They will give you honest advice about all the options that are available for your unique financial situation.

About Leigh Taylor

Additional Resources

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55 - Canada’s Economy and Household Debt: How Much Is Too Much Debt?

info@debtmatters.ca (Debt Matters Team) — Mon, 5 Sep 2022 07:00:00 +0000

Low interest rates and the promise of riches from rising home prices could be linked to Canadians ever increasing debt load. The latest figures from StatsCan revealed that Canadians owe $1.83 in consumer debt for every dollar of income they have. So, how well are you managing your debt? How much is too much? Licensed Insolvency Trustee, Leigh Taylor, discusses household debt. He talks about debt-to-income ratios and the danger signals that you should watch for.

Along with those important topics, Leigh also covers:

The cost of servicing the debt you carry
How government subsidies caused the inflation rate increase
Available options when you can’t make your debt payments
How to bring down your debt ratio
When to seek professional help

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. You can be assured of receiving unbiased advice and they will help you formulate a plan to get out of debt, once and for all.

About Leigh Taylor

Additional Resources

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54 - Car Loans: Can You Afford to Finance a Vehicle?

info@debtmatters.ca (Debt Matters Team) — Wed, 24 Aug 2022 09:00:00 +0000

Owning a car can give you the freedom to go where you want and when you want, but there are costs that are rarely calculated. Unless you plan on paying for your car with cash, monthly car loan payments generally last from 3 to 8 years. Things have changed in the new and used car market since the pandemic. There is apparently a microchip shortage that is impacting manufacturers across the globe. But what does that mean to you?

Licensed Insolvency Trustee, Francyne Myers takes a look under the hood. Is it better to lease or finance a new car? What is happening in the used car market?

Francyne also covers:

Questions to ask before you sign the financing agreement
What to watch out for when you a leasing a vehicle
Tips for reducing you car costs
The difference between depreciable and appreciable assets
When you aren’t able to afford to have a car any more

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. You can be assured of receiving unbiased advice about managing your finances and reducing your debt.

About Francyne Myers

Additional Resources

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53 - Rent or Buy a Home: Which Is Right For You?

info@debtmatters.ca (Debt Matters Team) — Wed, 24 Aug 2022 08:00:00 +0000

Renting versus buying is one of those questions that has been asked by millions of Canadians in every generation. But the answer is not as straightforward as it used to be. With the real estate market slowing down and interest rates rising, it is a difficult decision. Many are wondering if this may be a good time to buy or is it more economical to keep renting. There are other factors to consider, including your lifestyle, your finances and what the property market is like where you are buying.

Francyne Myers, Licensed Insolvency Trustee with Allan Marshall & Associates, discusses the merits of both renting and buying. She speaks to the changes brought about by the pandemic in the last few years.

If you’re wondering if home ownership is for you - here are some of the topics covered:

The extra costs of home ownership, over and above your mortgage
When renting may be a better choice
How your credit score can affect your chances getting a good rental
Tax free savings accounts to put your extra money into
Housing market predictions for the next couple of years

Licensed Insolvency Trustees (LIT) are the only federally regulated debt advisors in Canada. Speaking with an LIT ensures that you are getting the best qualified advice.

About Francyne Myers

Additional Resources

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51 - What to Do After Bankruptcy Discharge

info@debtmatters.ca (Debt Matters Team) — Fri, 15 Jul 2022 08:00:00 +0000

To be discharged from Bankruptcy means that you are released from your obligations to repay all debts that have been included in the Bankruptcy filing. Although this is an important step in eliminating debt, the process is not complete until you receive your discharge. After you have gone through all of the requirements, your Licensed Insolvency Trustee will issue you a Certificate of Discharge. What actually happens after you have been discharged from your Bankruptcy? Is there a possibility of getting credit? How do you reestablish your credit score - if in fact you are able to obtain credit.

Licensed Insolvency Trustee, Mary-Ann Marriot answers some of these questions and more. She discusses:

The different types of Bankruptcy discharges
Prepaid credit cards versus secured credit cards
Requirements to obtain a discharge
Steps to rebuild your credit
How long Bankruptcy lasts

Speaking with a Licensed Insolvency Trustee ensures that you are getting the best qualified help with your debt. They are the only federally regulated debt advisors in Canada. From budgeting to Bankruptcy, you can be assured you are receiving unbiased advice.

About Mary-Ann Marriot

Additional Resources

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52 - The Three Elements of Credit Worthiness - It’s Not All About Your Credit Score

info@debtmatters.ca (Debt Matters Team) — Fri, 15 Jul 2022 08:00:00 +0000

If you are like the average Canadian who will carry some level of debt, your 3 digit credit score can have a lot of influence on your life. It is a financial gauge that tells you and others how you are doing financially and if you can be trusted to use credit responsibly. How credit worthy are you? Licensed Insolvency Trustee, Mary-Ann Marriot explains the difference between credit worthiness and what your credit score is. She talks about the 3 elements that can ensure the best score.

About Mary-Ann Marriot

Additional Resources

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50 - BC Bankruptcy Exemptions: What Assets You Can Keep

info@debtmatters.ca (Debt Matters Team) — Wed, 13 Jul 2022 08:00:00 +0000

Contrary to popular belief, you will not lose everything when you file for Bankruptcy. Each province has its own exemptions. The Bankruptcy law dictates which assets and how much equity you are allowed to retain. Licensed Insolvency Trustee, Derek Chase walks us through the BC Bankruptcy exemptions rules that allow some assets to be retained. He explains that the Bankruptcy asset exemptions are set to help people get a fresh financial start and not to cause hardship.

Derek also explains:

How the Bankruptcy process works
The exemption amounts for homes, vehicles, and tools of the trade
What kind of RRSPs and company pensions contributions are exempt
Bankruptcy duties and the discharge process
How court mediation works

Bankruptcy laws are in place to give the honest debtor a chance to break free from the cycle of debt. Licensed Insolvency Trustees are federally regulated and the only professionals licensed to administer Consumer Proposals and Bankruptcies.

About Derek Chase

Additional Resources

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49 - Disability and Debt Problems

info@debtmatters.ca (Debt Matters Team) — Wed, 13 Jul 2022 08:00:00 +0000

A recent Canadian Survey of Financial Security found that people with disabilities, or who have spouses with disabilities, held 25% less in assets, not including housing. In accordance, they are less able to save for hard times or retirement. With the added stresses of a pandemic many are struggling. Today's podcast features Derek Chase, Licensed Insolvency Trustee talking about disability and debt. Debt is debt whether you are disabled or not, but there are programs and tax benefits specifically set up to help.

Topics covered include:

Short and long term disability insurance
Earning money while on disability
Repossession laws and consequences of stopping your payments on a secured loans
Disability tax credits
When to seek the advice of a Licensed Insolvency Trustee

About Derek Chase

Additional Resources

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48 - How to Get Rid of Debt and Level up Your Financial Life

info@debtmatters.ca (Debt Matters Team) — Thu, 7 Jul 2022 08:00:00 +0000

The rising cost of nearly all aspects of daily living is taking a toll on Canadians. Many are feeling less hopeful about their financial future than they did a year ago and are looking for ways to get out of debt. As the cost of living rises, more Canadians are realizing they need to get a handle on their finances. Leigh Taylor, Licensed Insolvency Trustee, takes a look at the different professionals that may be able to help and what they offer. He also covers:

The first step to taking back control of your finances
Understanding the different debt relief options that are available
What Licensed Insolvency Trustees do and how they can help
Strategies to reduce debt
What happens in an initial consultation with a Licensed Insolvency Trustee

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. They can help you take control of your debt and offer full services from budgeting to Bankruptcy.

About Leigh Taylor

Additional Resources

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47 - The Current State of Canadian's Finances and Insolvency Rates

info@debtmatters.ca (Debt Matters Team) — Wed, 6 Jul 2022 16:00:00 +0000

The rising cost of housing, groceries, gas and most other goods and services are weighing heavily on Canadian’s minds and budgets. Record inflation rates are taking a toll on stress levels. This is causing many to take action to get a handle on their finances. Licensed Insolvency Trustee, Leigh Taylor, addresses these concerns in today’s podcast. Taking positive steps to get a handle on your finances can alleviate the stress. Leigh talks about some of the options to deal with debt.

About Leigh Taylor

Additional Resources

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46 - How to Say No to People Asking for Financial Help

info@debtmatters.ca (Debt Matters Team) — Fri, 3 Jun 2022 08:00:00 +0000

Lending money to family or friends is tricky terrain to navigate both financially and personally. Before co-signing that loan or writing that cheque, make sure you take measures to reduce your financial risk and avoid lasting damages to the relationship. If your efforts to help someone you care about lead to disagreements or put your own finances in disarray, then saying ‘no’ is the right thing to do. Licensed Insolvency Trustee, Matthew Fader, sees people who have had lasting consequences when co-signed loans have defaulted or money has not been paid back. He gives his advice on:

How to protect yourself when lending money or co-signing loans
What to can do when the money you lend is not paid back
The percentage of the loan you are liable for when you co-sign
When a request for money gives you an opportunity to get involved with their finances
Possible lasting consequences to your finances when things go sideways

If you are in financial trouble, speak with a Licensed Insolvency Trustee. They are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest advice and help you find a solution to your debt problem.

About Matthew Fader

Additional Resources

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45 - Mortgage and Debt

info@debtmatters.ca (Debt Matters Team) — Wed, 1 Jun 2022 08:00:00 +0000

Housing prices in Canada are set to keep rising throughout 2022. The trend is not expected to slow down even with the prospect of higher interest rates. Homeowners with existing mortgages are the ones benefiting from the gap between low interest rates and high inflation. But what is the true cost of home ownership? Is it still a good investment? In today's podcast Licensed Insolvency Trustee, Matthew Fader, talks about mortgage and debt. He goes through the different refinancing options available and explains some of the terms used to describe them. He also covers:

The basics of conventional mortgages
The pros and cons of Home Equity Lines of Credit (HELOC)
Your mortgage’s paper equity
Shopping for mortgage insurance
Options for 2nd and 3rd mortgages

If you are struggling with your mortgage payments, Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Matthew Fader

Additional Resources

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44 - How to Break the Debt Cycle for Good

info@debtmatters.ca (Debt Matters Team) — Mon, 30 May 2022 08:00:00 +0000

Being stuck in the debt cycle can seem like a never ending struggle to try to keep ahead of repayments. Many Canadians are trapped in long-term debt cycles they can’t escape. But with a little planning and a bit of discipline, you don’t have to be stuck in the cycle forever. No one needs to live under a cloud of debt indefinitely. This podcast features Derek Chase talking about debt cycles and how to break them.

Derek also speaks to:

What keeps us in the cycle of debt
How inflation is affecting the amount of debt being carried
Things you can do when you feel overwhelmed
Using aps to control spending
Ways to pay down high interest rate loans and credit cards

Licensed Insolvency Trustees can help you take back the control of your finances and break the cycle of debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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43 - Business vs Personal Bankruptcy: What Is the Difference?

info@debtmatters.ca (Debt Matters Team) — Sun, 29 May 2022 08:00:00 +0000

It can be hard sometimes to try to figure out financially where your company ends and where you, as a person, begins. This is especially true when personal and business debts and assets have become entwined. If a business is not a corporation, then there’s not much difference between personal Bankruptcy and that of a small business. This podcast takes a look at the differences between business Bankruptcy and personal Bankruptcy. Licensed Insolvency Trustee, Derek Chase, talks about the similarities and how they differ. This is a must listen if you are experiencing unmanageable debt in your business or personal life.

Derek also covers:

Who to talk to first for advice about your business debt
If a business has to close after filing for Bankruptcy
What happens if the business has a personal guarantor or a co-signer
What is the role of a Receiver and when in one appointed
When does the court system need to get involved

About Derek Chase

Additional Resources

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42 - Taxes and Self-Employment: How Does It Work?

info@debtmatters.ca (Debt Matters Team) — Sat, 28 May 2022 11:00:00 +0000

Being self-employed is about being independent. Most people enjoy the feeling until it comes to tax season. Obligations to the Canada Revenue Agency (CRA) can feel like you’re twisted in red tape and paperwork. But it doesn’t have to be so. In this podcast, Licensed Insolvency Trustee, Derek Chase talks about taxes and self-employment. How can you avoid the stress of the annual tax season? What systems can you put in place that will keep you on track through the year.

Derek also discusses:

Why self-employed people run into tax problems
Why the CRAs penalties and interest charges make tax debt the hardest to catch up with
What a good bookkeeper can do for you
The advantage of setting up monthly or quarterly tax installment payments
What options are available when you aren’t able to pay your taxes

If you are struggling with any kind of debt, Licensed Insolvency trustees can help you regain control of your finances. They are considered some of the best financial advisors in the country and are licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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41 - Becoming a Licensed Insolvency Trustee

info@debtmatters.ca (Debt Matters Team) — Sun, 8 May 2022 08:00:00 +0000

Licensed Insolvency Trustees (LIT) are licensed through the federal government. Many are accountants by trade and have specialized in debt management. They have completed an extensive program of training and examination. Jillian Taylor-Mancusi watched her father, Leigh Taylor, work as a Licensed Insolvency Trustee as she grew up. She saw how he helped people manage their debt and how it changed their lives. Jillian realized that she too wanted to be able to do the same. She received her Licensed Insolvency Trustee designation in 2007.

In this podcast, Jillian describes what her job entails. She also talks about:

What a Licensed Insolvency Trustee is and what they do
What kind of experience and qualifications are required
What happens in an initial consultation with a Trustee
What kind of people become clients
What makes this job a worthwhile profession

Licensed Insolvency Trustee are federally regulated and are the only debt professionals with access to all debt relief options. They can help you take control of your debt.

About Jillian Taylor-Mancusi

Additional Resources

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40 - Most Important Bankruptcy Questions

info@debtmatters.ca (Debt Matters Team) — Sat, 7 May 2022 16:00:00 +0000

Statistics Canada says the ratio of household debt to disposable income has hit a record level. Canadians are taking on more debt. Looking for ways to get debt relief can be a stressful and bewildering process. In this podcast, Licensed Insolvency Trustee Jillian Taylor-Mancusi talks about her experiences working with people dealing with unmanageable debt. She shares the Bankruptcy questions she most frequently gets asked and also gives her advice on how to reframe these questions.

The five topics that Jillian addresses are:

Avoiding Bankruptcy and managing debt
Losing homes and cars
Damage to credit rating
How spouses may be affected
Will employers find out

About Jillian Taylor-Mancusi

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38 - Women and Money: Busting the Money Myths

info@debtmatters.ca (Debt Matters Team) — Mon, 25 Apr 2022 07:00:00 +0000

Women have made gigantic strides toward equality in recent years but still face financial challenges that men don’t. It’s hard to believe that, in this day and age, women are still not considered equals when it comes to money management. This podcast takes a look at the myths surrounding women and money. Licensed Insolvency Trustee, Francyne Myers shares her insights gathered over the 20 years she has been working with people in debt.

Along with busting the myths around women’s poor money management skills, she also discusses:

How women (and men) get into debt
The influence social media has on young women
Why you’re not responsible for the financial health of others
How to teach kids about money and how to stand on their own 2 feet
Having difficult conversations and setting boundaries with your kids
What is disposable income and how to increase it

Licensed Insolvency Trustees like Francyne Myers are federally regulated and approved by the Canadian government. With their extensive financial knowledge, they will give you honest advice about how to deal with unmanageable debt.

About Francyne Myers

Additional Resources

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39 - Money Conversation: How to Talk About Money With Your Partner

info@debtmatters.ca (Debt Matters Team) — Mon, 25 Apr 2022 07:00:00 +0000

Sitting down and talking about your financial values is going to help your relationship be much more open now and in the years to come. Discussing finances early on in your relationship is one of the best ways to make sure you both can get on the same page. It is important to understand each other’s financial status, expectations, and habits when it comes to money. You can then make informed financial decisions based on mutual agreements.

Francyne Myers, Licensed Insolvency Trustee with Allan Marshall & Associates speaks to the importance of having these difficult money conversations with your partner. She advocates for the ‘sooner rather than later’ approach that could save relationship problems down the road.

Francine also speaks about:

The important questions to ask your partner about their financial values
The honeymoon stage early in relationships and the importance of having financial conversations
Power struggles around how to spend money
Advantages and disadvantages of having separate accounts
When your kids become adults and evolving your role from parent to consultant

About Francyne Myers

Additional Resources

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37 - Reconciling Debt Overload With Your Faith

info@debtmatters.ca (Debt Matters Team) — Mon, 11 Apr 2022 02:00:00 +0000

Many Christians and people of faith feel guilty about not being able to pay their debts. Is it righteously or morally wrong to file for Bankruptcy, knowing it would mean not being able to adhere to the original terms of agreement with creditors? Bonnie Hooley is a Licensed Insolvency Trustee and a person of faith. In this podcast she shares her experiences working with people who have concerns about managing their debt with their religious beliefs. Is it morally wrong to file for Bankruptcy?

This podcast explores some of the issues including:

How will I be seen in the eyes of my community
Which verses in the Bible refer to not paying your debt
What should people of faith do when they are struggling financially
Can I bring someone from my church to the consultation for support
Why Bankruptcy is the wrong choice if you goal is not to pay your creditors

Licensed Insolvency Trustees are not going to judge you. knowing that debt can happen to anyone at any time. They have access to all the debt relief options and can assist you with everything from budgeting to Bankruptcy.

About Bonnie Hooley

Additional Resources

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36 - Scams: How to Recognize and Avoid Online Fraud

info@debtmatters.ca (Debt Matters Team) — Tue, 5 Apr 2022 09:00:00 +0000

During the ongoing pandemic, Canadians have increasingly relied on the internet to conduct everyday activities. But with increased activity online scams have also been on the rise. People of all ages can become victims of fraud. The Canadian anti-fraud centre estimates that less than 5% of fraud victims report their occurrences. Today’s podcast delves into online fraud. Licensed Insolvency Trustee, Bonnie Hooley discusses the different types of scams and how anyone can become a victim. She answers these questions and more:

Who are the most likely people to be victims of online fraud
How to protect yourself from being scammed
What are the red flags and warning signs
Will you be liable for the debts if you have been scammed
Why Bankruptcy can be a good option

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services and debt relief options, you can be assured that you are getting the best qualified advice.

About Bonnie Hooley

Additional Resources

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35 - How Technology Helps You Save Money

info@debtmatters.ca (Debt Matters Team) — Mon, 21 Mar 2022 08:00:00 +0000

Technology has changed our world in many profound ways. It really is impossible to ignore it. With the high price of cell phone, internet and streaming services it’s hard to remember that there are pieces of tech and software that can actually help you save money. Mary-Ann Marriot, Licensed Insolvency Trustee with Allan Marshall & Associates explores ways of using technology to save money. She offers advice on:

Points cards and how to stack points
Cash back apps and how to increase your earnings
No-fee banking and asking your bank for a break on fees
Using technology for selling items
Budgeting and tracking expenses with MINT
Increasing your credit score with a credit establishment program

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest information

About Mary-Ann Marriot

Additional Resources:

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34 - Money Beliefs Keeping You in Debt

info@debtmatters.ca (Debt Matters Team) — Mon, 21 Mar 2022 07:00:00 +0000

Our money beliefs are something we rarely consider and almost never talk about. So where do they come from? What we believe about money is born of our past experiences and can predict our actions in the future. In today's podcast, Licensed Insolvency Trustee, Mary-Ann Marriot of Allan Marshall & Associates takes a deep dive into money beliefs. Where do these beliefs come from and how can we shift them. She also explores:

The top 3 money beliefs that get in the way of
Resources for learning about money
How changing the word budget to spending plan can shift your thinking
The advantage of having 3 bank accounts
What happens when people take the first step to reach out for help

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you need help with your spending plan or need to file for Bankruptcy, you can be assured they will have your best interest in mind.

About Mary-Ann Marriot

Additional Resources:

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33 - Financial Habits to Develop and Avoid

info@debtmatters.ca (Debt Matters Team) — Wed, 9 Mar 2022 08:00:00 +0000

Do you have bad financial habits? You are not alone. A recent survey found that two-thirds of Canadians confess that they have personal financial habits that they plan to work on. A financial habit is just the value standards and routine practices that people rely on to move through their day to day financial lives. It supports our ability to effectively manage money and respond quickly to financial decisions and challenges that occur.

Licensed Insolvency Trustee, Rob Johnsom from Allan Marshall & Associates joins us today to talk about financial habits - the good and the bad. What are some of the basic financial habits that we all should have and what are the ones to be careful to avoid. Rob also discusses:

The top 5 financial habits for effective money management
Five financial habits to avoid
The negative effect of bad financial habits
How to avoid the debt cycle and keep on top of your financial obligations
Budget, budget, budget

About Robert Johnson

Rob Johnson joined Allan Marshall & Associates in April, 2010. Prior to joining the practice, he was a Vice President with Ernst & Young Inc.’s Corporate Restructuring Group. Rob holds a Bachelor of Business Administration, is a Chartered Accountant, and a Chartered Insolvency and Restructuring Professional.

Rob enjoys helping people restore balance and improve their quality of life by working together with the goal of solving their financial burdens.

Additional Resources:

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32 - Interest Rate vs. APR: What’s the Difference?

info@debtmatters.ca (Debt Matters Team) — Wed, 9 Mar 2022 07:00:00 +0000

APR is an acronym for annual percentage rate. It is a calculation that includes both the interest rate and the finance charges of a loan. In other words it is the annual cost over the life of a loan - the total cost of credit. Do you know how much the loan you just signed will end up costing you? Have you calculated the true financing costs? Most people see only the interest rate calculations.

Today’s podcast interview is with Licensed Insolvency Trustee, Rob Johnson of Allan Marshall & Associates. Rob discusses brokerage fees, loan fees and the hidden costs in financing agreements with lenders. Other topics discussed include:

Calculating the interest rate and APR on your mortgage
Payday loan companies interest rates and additional fees
What affects the interest rate that lenders offer you
Using the APR instead of the interest rate to compare the cost of loans
When the APR is the same as the interest rate - there are no hidden charges.

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services you can be assured that you are getting the best qualified advice.

About Robert Johnson

Rob enjoys helping people restore balance and improve their quality of life by working together with the goal of solving their financial burdens.

Additional Resources:

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31 - Financial Advice I Would Give to My Younger Self

info@debtmatters.ca (Debt Matters Team) — Thu, 24 Feb 2022 07:00:00 +0000

We’ve all heard the Chinese proverb reminding us that ‘the best time to plant a tree was 20 years ago and the second best time is now’. It also reminds us that the best time to start saving was when we were young. But were we given that advice and if so - did we take it? Today's podcast features Derek Chase, Licensed Insolvency Trustee, on Vancouver Island. We asked Derek what advice he would have given to his younger self. He also discusses:

How to educate yourself and gain an understanding of terminology
Teaching our children early by letting them manage their cash flow
Who the best people are to ask for advice
Understanding the need to plan for the long term
Being aware of asset management fees

If you didn’t receive the advice you needed and find yourself deep in debt, it may be time to speak with a Licensed Insolvency Trustee. They are the government regulated professionals that have access to all debt management options, including Consumer Proposals and Bankruptcy.

About Derek Chase

Additional Resources:

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30 - Grocery Shopping: Understanding Your Budget & Expenses

info@debtmatters.ca (Debt Matters Team) — Fri, 4 Feb 2022 08:00:00 +0000

The Bank of Canada says that food price increases will likely outpace inflation. This is mainly due to supply disruptions and higher commodity and energy prices. Canadians may have to change their habits and make different choices that are more affordable. Today's podcast looks at ways to prepare and make adjustments for food price increases. Licensed Insolvency Trustee, Derek Chase discusses creative ways to grocery shop within a budget. Other topics covered are:

Online apps for food that is nearing their expiry dates
Importance of knowing how much you are spending on food each month
Grocery store loyalty credit cards offering points
When to shop to take advantage of markdowns
Seeking help when your debt load is increasing paying basic expenses

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. Speaking with an LIT ensures that you are getting the best qualified advice and support creating a workable budget.

About Derek Chase

Additional Resources

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29 - Why You Shouldn't Use Quick Cash

info@debtmatters.ca (Debt Matters Team) — Fri, 4 Feb 2022 07:00:00 +0000

The COVID-19 pandemic has been a factor in the rise of same day money services. A recent survey found that 80% of those who used payday loans did so to pay for everyday living expenses like rent and groceries. With annual interest rates ranging from 25% - 400% this is a worrisome trend. But is the cost worth the benefit? In this podcast Derek Chase, Licensed Insolvency Trustee, explains the true cost of these same day money services. He also looks at:

The negative momentum and dangers of starting these loans
Ease of procuring loans online
Cost of administration fees, interest rates, and the length of the loan
Understanding cash flow in order to avoid needing same day money
Alternative sources for financial assistance

Licensed Insolvency Trustees can help you take control of your finances. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Derek Chase

Additional Resources

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28 - Teaching Kids to Save Money

info@debtmatters.ca (Debt Matters Team) — Mon, 31 Jan 2022 07:00:00 +0000

Money management isn’t always easy and teaching your kids can be just as difficult. We sometimes forget that our kids do have money from their allowance or from birthdays and they will need to make choices about what to do with that money. This podcast is all about teaching your children money management skills. It’s not a subject many of us are comfortable with. Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates helps us recognize teachable moments to build in money lessons appropriate for their age.

Mark also discusses:

The best way to get started and at what age
Tips to get them started saving
Letting your kids make poor spending decisions early
The difference between needs / wants and how to avoid impulse buying
Signs that your kids are making good or poor money management choices

Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Mark Marshall

Additional Resources

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27 - Student Loan Debt Crisis

info@debtmatters.ca (Debt Matters Team) — Sat, 29 Jan 2022 09:00:00 +0000

According to Statistics Canada, the average graduate finishes school with more than $26,000 in student debt. According to the Canadian Student Loan Program it takes an average of 10 years to pay the loans off in full. But what happens when you are unable to repay your student loans? Mark Marshall, Licensed Insolvency Trustee with Allan Marshall & Associates, talks about all aspects of student loans. He answers the questions:

When can I include my student loans in a Bankruptcy or a Proposal?
Why do I need to confirm my end of study date?
Will I qualify for a student loan if I am or have been bankrupt?
How do I keep my student loan in good standing?
What role does credit counselling play after I have been discharged?

About Mark Marshall

Additional Resources

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26 - Effects of Financial Stress on Mental Health

info@debtmatters.ca (Debt Matters Team) — Wed, 26 Jan 2022 09:00:00 +0000

There is no question that carrying a lot of debt can be stressful. While financial difficulties often lead to mental health problems - it is also probable that mental health problems can lead to financial concerns. Today’s podcast is about the effect that financial stress has on mental health. Leigh Taylor, Licensed Insolvency Trustee, explores how the two can go hand in hand and how to prevent a downward spiral.

Leigh relates stories from his many years of experience helping people deal with the stress of their financial problems. He also covers:

Where to turn for help
How financial stress affects our mental health
Best ways to alleviate anxiety around your debt problems
Outcomes after meeting with a Licensed Insolvency Trustee

Licensed Insolvency Trustees can help you take control of your debt that may be affecting your mental health. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada.

About Leigh Taylor

Additional Resources

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25 - How to Budget on an Irregular Income

info@debtmatters.ca (Debt Matters Team) — Tue, 25 Jan 2022 14:00:00 +0000

The Covid-19 pandemic has changed the way millions of Canadians work. Many people are finding that the money they could depend on coming in each month has now turned into irregular income. How can you make plans and live within a budget when the money that comes in varies from month to month? Licensed Insolvency Trustee, Leigh Taylor, tackles that question and shares his advice on handling finances with an irregular income. Other topics covered include:

Tracking basic expenses
Setting short and long term financial objectives
Recognizing pitfalls
Budgeting for annual expenditures
Building and emergency fund with automatic savings deposits

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive financial knowledge they will give you honest advice.

About Leigh Taylor

Additional Resources

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24 - Millennial Money: Millennials and Their Financial Problems

info@debtmatters.ca (Debt Matters Team) — Sat, 8 Jan 2022 08:00:00 +0000

The millennial generation is typically the children of boomers born between 1981 and 1996 - which means the oldest members are starting to turn 40. One of the statistics about this generation is that they are, on average, holding more debt than their forebears. Today’s podcast looks at the millennial generation and their relationship with money. Matthew Fader, Licensed Insolvency Trustee with Allan Marshall & Associates, delves into what kind of debt is incurred by different age groups, and why. He also explores:

The difference between how millennials versus boomers perceive money
What is different today in the kind of debt millennials carry
The solutions and options available when they reach out for help
How money has become easier to spend when the physicality has been removed

Whatever your age or generation you belong to, if you are dealing with unmanageable debt it may be time to reach out to a Licensed Insolvency Trustee. They are federally regulated and are the only debt professionals with access to all debt relief options.

About Matthew Fader

Additional Resources

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23 - Addiction and Debt Problems: How to Deal With Them

info@debtmatters.ca (Debt Matters Team) — Fri, 7 Jan 2022 09:00:00 +0000

Millions of Canadians struggle with addictions and debt. Our concept about addictions has changed over the years. With the ongoing challenges of the COVID-19 pandemic, many seemingly innocent online activities can be turning into addictions without being noticed. Licensed Insolvency Trustee, Matthew Fader with Allan Marshall & Associates, takes a look at how addictions can affect household debt. Addictions are not as easy to spot these days - as online gambling and shopping have evolved over time.

Matt also discusses:

The different types of addictions
When an activity becomes an addiction and how to identify it
Who is susceptible and danger areas to watch out for
How addictions affect couples and advice on how to work together
When to seek help

Licensed Insolvency Trustees are licensed and regulated by the federal government of Canada. They are considered to be the best financial advisors and can help you take control of your debt.

About Matthew Fader

Additional Resources

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22 - What Is a Licensed Insolvency Trustee and How Can They Help?

info@debtmatters.ca (Debt Matters Team) — Fri, 7 Jan 2022 08:00:00 +0000

As living expenses rise faster than income, many Canadians are facing a heavy consumer debt load. Choosing a debt advisor is an important step in debt recovery. The market is flooded with unlicensed and unregulated ‘debt consultants’ who charge a fee and then refer debtors to a Licensed Insolvency Trustee. In this podcast Licensed Insolvency Trustee, Derek Chase, explains in detail who these professionals are and what they do. Other topics cover are:

Licensed Insolvency Trustees qualifications and education
Who protects the integrity of the insolvency process
What a Bankruptcy lawyer does and the terms Chapter 7 and Chapter 11
Financial Advisors and quality control of their industry
How to prepare for your first meeting with a Licensed Insolvency Trustee and what to expect.

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast will help give you the confidence that you are choosing the right debt professional.

About Derek Chase

Additional Resources

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21 - Differences Between Good Debt and Bad Debt

info@debtmatters.ca (Debt Matters Team) — Sun, 2 Jan 2022 08:00:00 +0000

According to the latest Stats Canada report there was $1.73 in ‘credit market debt’ for every $1.00 of household disposable income. Canadians are taking on more debt. But taking on debt is fine as long as most of it is ‘good debt’. In this podcast Licensed Insolvency Trustee, Derek Chase takes a look at different kinds of debt. What is classified as ‘good debt’ and what is ‘bad debt’. Derek also offers advice on how to conquer bad debt. Other topics covered are:

How to avoid bad debt
How good debt can turn bad
Why income tax debt is considered bad debt
The most popular option to deal with tax debt

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you.

About Derek Chase

Additional Resources

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20 - When to Declare Bankruptcy in Canada

info@debtmatters.ca (Debt Matters Team) — Wed, 22 Dec 2021 05:00:00 +0000

As the COVID-19 pandemic drags on, debt-ridden Canadians are seeing their quality of life diminish. Seventy percent of those surveyed say that new debt is making their quality of life worse. If you are struggling, you may be wondering just when you should be reaching out for help.

This podcast features Jillian Taylor-Mancusi, Licensed Insolvency Trustee with LCTaylor out of Winnipeg, Manitoba. She describes her experiences working with people who come in stressed and how they leave with a smile on their face, knowing they have options.

Jillian also discusses:

What to expect when you first meet with a Licensed Insolvency Trustee
How much debt is too much and when you should seek help
Cashing in RRSPs to pay down debt
How a Stay of Proceeding stops collections and and when it takes effect
The negative outcome of co-signing loans and lending money to family or friends

Licensed Insolvency Trustees are federally regulated and are knowledgeable in all aspects of debt management. Whether it’s budgeting or filing for Bankruptcy, you can be assured that they will give you honest advice to help you deal with your debt.

About Jillian Taylor-Mancusi

Additional Resources

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19 - Bankruptcy Demographics: Who Files for Bankruptcy?

info@debtmatters.ca (Debt Matters Team) — Mon, 20 Dec 2021 08:00:00 +0000

Although the COVID-19 pandemic has likely created more financial distress for Canadians, Bankruptcy filings have declined. However, there is often a delay between when people start to recognize the severity of their debt problems and when they take action. Who are the people that file for Bankruptcy? You may be surprised. Licensed Insolvency Trustee, Jillian Taylor-Mancusi of LCTaylor delves into who the typical debtor is and why they end up declaring Bankruptcy.

Jillian also explores:

Why Bankruptcy filings have gone down and what may happen in the future
The average amount people who file for Bankruptcy owe
The warning signs you may be heading for Bankruptcy
When to reach out to a Licensed Insolvency Trustee and why sooner is better than later

About Jillian Taylor-Mancusi

Additional Resources:

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18 - When Should You Accept a Credit Limit Increase

info@debtmatters.ca (Debt Matters Team) — Fri, 10 Dec 2021 06:00:00 +0000

While it may be flattering to receive a line of credit offer or a pre-approved credit card limit increase, you should think twice before accepting. You need to weigh the benefits against the risks. While there are a few instances in which a credit limit increase would be to your advantage. On the flip side, having more credit available than you need could lead to problem debt.

In this podcast episode, Francyne Meyers, Licensed Insolvency Trustee with Allan Marshall & Associates, looks at the advantages of accepting a credit limit increase. She also weighs in on the disadvantages and what you need to be aware of.

About Francyne Myers

Additional Resources

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17 - How to Obtain a Good Credit Score

info@debtmatters.ca (Debt Matters Team) — Wed, 8 Dec 2021 08:00:00 +0000

Your credit rating is a score that is used by potential lenders that tells them how much of a credit risk you may be. Most people know they need a good credit history to give them a good credit score. Few of us know how the scoring system works or what we can do to improve our ratings. In today's podcast Licensed Insolvency Trustee, Francyne Myers of Allan Marshall & Associates, sheds some light on this subject. She explains what a good credit score is and how to obtain one. A few of the other topics discussed are:

Why it is important to have a good credit score and how to increase it
What a ‘good’ score is versus a ‘bad’ score
Why your bank may turn you down even with a high score
Indicators that there are mistakes on you credit report
The difference between the major reporting services and companies like Borrowell and Credit Karma

About Francyne Myers

Additional Resources

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16 - Budgeting Tips to Improve Your Finances

info@debtmatters.ca (Debt Matters Team) — Thu, 2 Dec 2021 08:00:00 +0000

One of the most important things you can do to live a healthy, happy and secure life is to develop basic personal financial skills. Understanding about budgeting, debt and savings will impact every part of your life. It can mean the difference between poverty and prosperity. In today's podcast Licensed Insolvency Trustee, John Adamson, shares his thoughts on how to make budgeting as stress-free as possible. It may seem like a daunting task to create a budget, but there are ways to simplify the process.

John discusses topics around:

Why budgeting is important when you are making financial decisions
How to start and stick to a budget
Breaking your expenditures into needs and wants
Best ways to save for your retirement
The benefits of having a chequing and savings account

About John Adamson

John founded Adamson & Associates Inc. in 1996. His experience includes more than 25 years of helping individuals, small business owners find solutions to their financial problems. John is approachable, easy to talk to and enjoys helping people solve their debt challenges.

Additional Resources

Adamson & Associates - Licensed Insolvency Trustee

Want a Better Budget? Understand Your Income and Expenses

How to Prepare for a Money Emergency Even If You’re Broke

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15 - Debt Solutions for People With Debt

info@debtmatters.ca (Debt Matters Team) — Tue, 30 Nov 2021 08:00:00 +0000

A recent survey showed that 43% of Canadians added to their existing debt thanks to the pandemic. With the added pressure of inflation - many are feeling the strain of making ends meet. Every person in Canada has the option to reach out to a Licensed Insolvency Trustee to find a way to reduce their debt and resolve their financial issues.

In this podcast, John Adamson, Licensed Insolvency Trustee, discusses the two most popular options of debt relief. Today’s discussion focuses on the differences between filing a Consumer Proposal and Bankruptcy.

Questions answered include:

What happens when I can’t service the debt I have
How a Consumer Proposal affects your credit rating to a lesser degree than Bankruptcy
Will you lose your car or home when you become insolvent
The benefits of filing a Consumer Proposal vs Bankruptcy
How credit counseling can identify problems and help with budget planning for the future

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options that are available for your unique financial situation.. Get the facts from an experienced debt expert before you make any decisions.

About John Adamson

Additional Resources

Adamson & Associates - Licensed Insolvency Trustee

Bankruptcy VS Consumer Proposal, Which Is Better?

Canadian Debt Relief Programs: 5 Strategies to Recover from Debt

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14 - Marriage Finances: How Financial Stress Affects Relationships

info@debtmatters.ca (Debt Matters Team) — Thu, 18 Nov 2021 11:00:00 +0000

Money clearly plays a significant role in marriage and is the number one issue married couples fight about. Financial problems are one of the leading causes of divorce which is why it’s so important that you address problems that arise. There’s no one right way to run your household finances. Some couples have separate accounts, some joint, and some work out a combination. But whatever way you decide to manage your money - having good lines of communication is paramount.

In today’s podcast, Licensed Insolvency Trustee Derek Chase discusses how financial stress affects relationships.

What are the warning signs that there may be trouble ahead
How financial counselling can be used as a teachable moment for everyone in the family
Practical advice around talking about money
Bringing the whole family into the conversation about their needs versus wants

If you are dealing with unmanageable debt that’s affecting your relationship, it may be time to reach out to a Licensed Insolvency Trustee. They are federally regulated and are the only debt professionals with access to all debt relief options.

About Derek Chase

Additional Resources

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13 - How to Create an Emergency Fund When in Debt

info@debtmatters.ca (Debt Matters Team) — Thu, 18 Nov 2021 08:00:00 +0000

If you are one of the nearly three-quarters of Canadians that have some type of outstanding debt - saving money might seem inconceivable. But financial advisers stress the importance of having emergency savings - even a small amount. In this well timed podcast Licensed Insolvency Trustee, Derek Chase, sheds some light on how to create an emergency fund when you’re in debt. If you’re someone who has more ‘month than money’ - Derek’s common sense ideas can kick start your savings plan. A few of the topics covered:

Getting started: Start small but start now
Tracking your income and expenses
Understanding the ‘why’ and identifying individual needs and wants
Options available to start over when your debt is insurmountable
Increasing your income with side hustles

Licensed Insolvency Trustees (LIT) are the only federally regulated debt advisors in Canada. They must all complete and pass rigorous bankruptcy and law courses before being granted a Trustee license. Speaking with an LIT ensures that you are getting the best qualified advice.

About Derek Chase

Additional Resources

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12 - How Bankruptcies and Consumer Proposals Work in Canada

info@debtmatters.ca (Debt Matters Team) — Fri, 22 Oct 2021 07:00:00 +0000

With the rising cost of housing, groceries, and fuel many Canadians are watching their debt load increase and are exploring solutions that can eliminate debt. The top 2 insolvency options available to Canadians are filing a Bankruptcy and Consumer Proposal. Both are able to resolve debt problems and provide legal protection from creditors.

In this podcast, Mark Marshall of Allan Marshall & Associates delves into these 2 insolvency options - Bankruptcy and Consumer Proposals. Mark goes through the similarities and the differences between the two. He also explores:

The steps involved in filing a Consumer Proposal or Bankruptcy
What is a Stay of Proceedings and how it stops all collection activities
How your credit rating is affected
What happens in an initial consultation with a Licensed Insolvency Trustee

Licensed Insolvency Trustees are governed by the Federal Government through Industry Canada. They are licensed to provide financial advice and bound by the court. They are, in fact, officers of the Courts and the only professionals that can file Consumer Proposals and Bankruptcies.

About Mark Marshall

Additional Resources

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11 - Your Rights with Collection Agencies

info@debtmatters.ca (Debt Matters Team) — Thu, 21 Oct 2021 07:00:00 +0000

Many Canadians are juggling their finances - trying to keep all their payments current. But if you have become delinquent on any of those credit accounts - that debt may wind up in collections. This means your original lender has sent your account to a collection agency who will contact you repeatedly in an effort to see the debt paid. But what are your rights? Here’s an opportunity to find out what creditors and collection agencies can and can’t do. In today’s podcast Licensed Insolvency Trustee, Mark Marshall from Allan Marshall & Associates delves into this topic.

Find out the best way to deal with collection calls, when and where collection agencies can contact you and how to correspond with them. A few of the topics covered in this episode are:

How and when creditors are allowed to contact you
Things you can do to get them to stop
Informal and formal proposals to clear your debt
What to do when the contact turns into harassment.

Licensed Insolvency Trustees (LIT) are federally regulated and approved by the Canadian government. They are the only professionals that can administer formal proposals such as a Consumer Proposal or Bankruptcy. An LIT can also help you prepare an informal proposal to settle the debt on your own.

About Mark Marshall

Additional Resources

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10 - CRA Tax Debt Relief in Canada

info@debtmatters.ca (Debt Matters Team) — Wed, 20 Oct 2021 07:00:00 +0000

No one likes to pay taxes. But pay them, you must. The Canada Revenue Agency (CRA) has several powers to collect unpaid taxes. These include wage garnishments, seizure of investments, freezing bank accounts - to name a few. And be assured the CRA will pursue these collection options. This timely podcast Licensed Insolvency Trustee, Bonnie Hooley of LCTaylor discusses the CRA and tax debt. A must listen if you are wondering if you can just ignore your tax problems. Bonnie addresses the following:

Different options available to assist with tax debt
Arbitrary assessments and what steps the CRA will take to collect taxes
How the Bankruptcy & Insolvency Act can eliminate tax debts
When to seek help from a Licensed Insolvency Trustee

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They have extensive knowledge of the tax system and the options you have available to you if you are struggling with tax debt.

About Bonnie Hooley

Additional Resources

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9 - Debt Help: Bankruptcy for Senior Citizens

info@debtmatters.ca (Debt Matters Team) — Tue, 19 Oct 2021 06:30:00 +0000

Not everyone sails off into the retirement sunset on a luxury yacht. More and more seniors are carrying substantial consumer debt into their retirement. These are challenging financial times and if you are carrying debt into your retirement, you are not alone. In this reassuring podcast Licensed Insolvency Trustee Bonnie Hooley with LCTaylor & Associates in Winnipeg, discusses senior debt. She is a beacon of hope for anyone who might be hesitant about seeking help.

Today’s topic covers many of the most common debt issues that affect seniors - whether you are thinking about your retirement or you have retired.

Common reasons why seniors retire with debt
The effects of filing Bankruptcy as a senior
What happens to your debt when you die
Addressing the stigma of debt that keeps seniors from getting help

About Bonnie Hooley

Additional Resources

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8 - Breaking the Social Stigma of Bankruptcy

info@debtmatters.ca (Debt Matters Team) — Mon, 27 Sep 2021 07:00:00 +0000

Most of us have a preconceived notion of what declaring bankruptcy signifies. It may have something to do with being lazy, irresponsible or dishonest. But in reality, the majority of Canadians that file for bankruptcy do so because their economic circumstances have changed. In this podcast, Licensed Insolvency Trustee, Derek Chase answers some of the most frequently asked questions about bankruptcy:

Who will find out?
Will my employer have to know?
How will it affect my credit score and for how long?
What debts are not covered in a bankruptcy?
What are the other options I should be considering?

Today’s attitudes have shifted due to the change in the economic conditions in our country. There is no shame in using this legal procedure to deal with unmanageable debt. Bankruptcy should be a strategic decision rather than a stigma.

About Derek Chase

Additional Resources

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7 - Debt and Housing Costs in This High Inflation Market

info@debtmatters.ca (Debt Matters Team) — Sat, 18 Sep 2021 07:00:00 +0000

The rising cost of homeownership in Canada is affecting the rental market. The cost of rent is heavily influenced by housing affordability and the amount of rental units available. This is the making of a perfect storm that can lead to an increased debt load just to keep a roof over our heads. When your living expenses are increasing it's important to know where your money is going. Now is the time to take a deep dive into your expenses to find out how much debt you are accruing.

Join Derek Chase, Licensed Insolvency Trustee, in this podcast as he talks about:

What percentage of your income should be going towards housing
Suggestions of how to reduce your housing costs
The value of tracking expenses and budgeting
One of the most popular debt relief options

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They will give you honest advice about all the options available to you if you find yourself with unmanageable debt.

About Derek Chase

Additional Resources:

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6 - Using Home Equity Loans to Pay Off Debt

info@debtmatters.ca (Debt Matters Team) — Fri, 17 Sep 2021 07:00:00 +0000

Very few people could have predicted the pandemic housing boom in Canada over the last year and a half. Homeowners have found that the equity in their homes has increased substantially. This has led many to wonder if they should utilize that equity to pay down their debts. But where do you start and what are the different options available to you?

In this podcast Licensed Insolvency Trustee, Derek Chase talks about refinancing your home to avoid debt problems. The following topics are explored:

Refinancing your home with your mortgage lender
Taking out a second mortgage
Home Equity Line of Credit (HELOC)
Risks involved in using the equity in your home

Licensed Insolvency Trustees should be your first point of contact when you are looking for help with unmanageable debt. They are federally licensed and regulated which ensures you get unbiased advice.

About Derek Chase

Additional Resources:

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5 - How to Avoid Payday Loans

info@debtmatters.ca (Debt Matters Team) — Fri, 3 Sep 2021 08:00:00 +0000

The COVID-19 pandemic has thrown millions of Canadians into financial distress. Many have been forced into taking on high interest or payday loans without knowing the consequences. Licensed Insolvency Trustee Matt Fader tackles the subject of payday loans. In this podcast he sheds some light on the following topics:

How payday loans work and how interest is calculated
The real cost associated with servicing your debt
How to break the payday loan cycle
Installment loans, consolidation loans, and credit counselling

Additional Resources

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4 - How to Plan for Retirement

info@debtmatters.ca (Debt Matters Team) — Thu, 2 Sep 2021 08:00:00 +0000

While some people may be concerned that they will not be able to retire the way they intended - the steadfast advice is: plan, plan and then maybe plan some more. Even in this changing environment, having a financial retirement plan is still relevant in these changing times. Today’s podcast features Matt Fader, Licensed Insolvency Trustee with Allan Marshall & Associates. Matt talks about assessing what you want your retirement to look like and what you need to do to get there.

A few of the topics covered are:

The implications of retiring with debt
Borrowing money to fund RRSP’s
Balancing saving for retirement with sacrificing the quality of life
Developing a structured plan for saving

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest advice. This podcast is a ‘must listen’ if you are like millions of Canadians that are wondering how to navigate saving for their retirement.

Additional Resources

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3 - How to Avoid Credit Card Debt

info@debtmatters.ca (Debt Matters Team) — Thu, 26 Aug 2021 08:00:00 +0000

We are living in precarious financial times. The social and economic impacts of COVID-19 have been felt by all Canadians, many finding themselves deeper in debt. In today’s podcast Jillian Taylor-Mancusi, Licensed Insolvency Trustee with LCTaylor, talks about one of the most common forms of unsecured debt - credit cards.

In this episode Jillian covers:

How credit card companies make money
Compound interest - calculating your daily interest revealing how much interest you are paying on the interest
What happens when your file is sent to a collection agency
Wage garnishments, statement of claim judgments

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you need help with your budgeting or you are filing for Bankruptcy, you can be assured they will have your best interest in mind.

Additional Resources

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2 - Consumer Proposals vs Bankruptcy

info@debtmatters.ca (Debt Matters Team) — Thu, 19 Aug 2021 07:00:00 +0000

The economic fallout from the COVID-19 pandemic has affected everyone. Many Canadians are carrying more debt than they can handle and are exploring all the options that may be available to them. In today’s podcast, Licensed Insolvency Trustee, Jillian Taylor-Mancusi, looks at two of the most popular debt relief options. She explains the difference between filing a Consumer Proposal and Bankruptcy.

In this episode Jillian talks about at what point you may need to consider either one and answers some of the most frequently asked questions:

How does a Consumer Proposal differ from a debt consolidation loan?
If I have equity in my home should I file a Consumer Proposal or a Bankruptcy?
How do I get a Stay of Proceedings that will stop wage garnishment and all other collection activity?
Who do I turn to for advice and what is the first step I should take?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast is a great starting point to get the facts from an experienced debt expert before you make any decisions.

Additional Resources:

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1 - Bankruptcy During Covid-19

info@debtmatters.ca (Debt Matters Team) — Mon, 2 Aug 2021 02:52:21 +0000

The economic effects of the COVID-19 pandemic on Canadians have varied wildly. Some have thrived while others are hanging on by a thread. Licensed Insolvency Trustee, Derek Chase, talks about the financial challenges that many are facing and what options Canadians with overwhelming debt have.

In this episode, Derek goes through the do’s and don’ts of managing debt and answers some of the most frequently asked questions:

Should I cash in my RRSPs to pay down my debt?
Do you actually lose everything when you file a Bankruptcy?
What’s the difference between filing a Consumer Proposal and a Bankruptcy?
What actually happens when I make that first call to a Trustee?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast is a great starting point to get the facts from an experienced debt expert before you make any decisions.

Additional Resources:

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Coming Soon: The DebtMatters Podcast

info@debtmatters.ca (Debt Matters Team) — Mon, 3 May 2021 20:06:03 +0000

A podcast dedicated to discussing consumer and household debt and strategies and ways of dealing with uncontrolled or problematic debt. Featuring debt experts with decades of experience in helping Canadians recover from the burden of debt.

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