DebtMatters Podcast

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 deb...

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 se...

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 profession...

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 finan...

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...

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, Matt...

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...

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 Ban...

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 sy...

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 th...

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 m...

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 finan...

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...

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 abo...

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...

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 off...

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...

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 financi...

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. Tod...

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...

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 crea...

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 c...

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...

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 loan...

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...