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 ...
Jan 08, 2022•19 min•Ep. 26
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...
Jan 07, 2022•19 min•Ep. 25
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 a...
Jan 07, 2022•15 min•Ep. 24
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 de...
Jan 02, 2022•17 min•Ep. 23
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 ...
Dec 22, 2021•18 min•Ep. 22
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 Bankr...
Dec 20, 2021•18 min•Ep. 21
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...
Dec 10, 2021•19 min•Ep. 20
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 oth...
Dec 08, 2021•20 min•Ep. 19
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 p...
Dec 02, 2021•16 min•Ep. 18
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 difference...
Nov 30, 2021•17 min•Ep. 17
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, Lice...
Nov 18, 2021•17 min•Ep. 14
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 th...
Nov 18, 2021•17 min•Ep. 13
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 throug...
Oct 22, 2021•16 min•Ep. 12
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 Truste...
Oct 21, 2021•17 min•Ep. 11
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:...
Oct 20, 2021•17 min•Ep. 10
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 ...
Oct 19, 2021•16 min•Ep. 9
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 ...
Sep 27, 2021•15 min•Ep. 8
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 Chas...
Sep 18, 2021•15 min•Ep. 7
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: ...
Sep 17, 2021•15 min•Ep. 6
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 ...
Sep 03, 2021•22 min•Ep. 5
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 ...
Sep 02, 2021•22 min•Ep. 4
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 intere...
Aug 26, 2021•13 min•Ep. 3
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 s...
Aug 19, 2021•12 min•Ep. 2
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 everythi...
Aug 02, 2021•19 min•Ep. 1
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.
May 03, 2021•51 sec
