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...
Apr 20, 2025•20 min•Ep. 161
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 ...
Apr 19, 2025•17 min•Ep. 162
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 hol...
Oct 14, 2024•20 min•Ep. 160
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 prac...
Oct 14, 2024•19 min•Ep. 159
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 acti...
Sep 19, 2024•15 min•Ep. 158
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 ...
Sep 16, 2024•17 min•Ep. 157
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 to...
Jul 15, 2024•20 min•Ep. 154
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 topi...
Jul 12, 2024•19 min•Ep. 153
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:...
Jul 05, 2024•19 min•Ep. 152
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...
Jul 01, 2024•19 min•Ep. 151
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...
Jun 28, 2024•16 min•Ep. 150
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...
Jun 24, 2024•18 min•Ep. 149
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 fina...
May 27, 2024•18 min•Ep. 148
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 w...
May 24, 2024•16 min•Ep. 147
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 yo...
May 08, 2024•15 min•Ep. 146
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. Other topics covered: When ...
May 06, 2024•17 min•Ep. 145
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 se...
Apr 05, 2024•17 min•Ep. 144
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 Mye...
Apr 01, 2024•20 min•Ep. 143
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 p...
Mar 15, 2024•19 min•Ep. 142
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 quantitati...
Mar 12, 2024•16 min•Ep. 141
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 Insol...
Mar 06, 2024•15 min•Ep. 140
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 discu...
Mar 04, 2024•18 min•Ep. 139
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...
Feb 15, 2024•16 min•Ep. 138
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 Bankrupt...
Feb 13, 2024•18 min•Ep. 137
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 d...
Jan 31, 2024•18 min•Ep. 136
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 ...
Jan 29, 2024•18 min•Ep. 135
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 prep...
Jan 04, 2024•19 min•Ep. 134
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 ...
Jan 02, 2024•20 min•Ep. 133
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 T...
Dec 29, 2023•17 min•Ep. 132
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 Eva...
Dec 21, 2023•16 min•Ep. 131
