Is credit repair a scam? Learn the truth from experts about repairing damaged credit, understanding credit scores, and managing debt. Doug Hoyes and Ted Michalos explain essential topics like credit utilization rate, responsible credit card usage, and when you should worry about your credit score.

Whether you’re working to rebuild your credit or aiming to maintain a healthy score, this episode is full of practical advice on credit and debt management for all Canadians.

Timestamps:

(0:00) Humorous introduction: Doug Hoyes and Ted Michalos on modern credit

(2:00) Should you worry about your credit score?

(5:10) Credit utilization rate and access to debt

(7:40) How many credit cards are too many? 

(11:10) Can items be removed from your credit report?

(12:25) How often should you check your credit report?

(14:00) Practical strategies for reducing debt  

(17:10) What is a consumer proposal? How does it impact your credit score?

(20:00) Why saving cash is more important than you think  

(21:50) The importance of paying your bills on time  

(24:00) The “223 Rule” explained

(26:00) Two new “trade lines” and additional credit repair tips   Subscribe to the DFI30 Newsletter here (only one email per month!) 

Follow: Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTokHoyes Michalos Twitter (X)Hoyes Michalos LinkedIn Episode Resources:

Rules to Master Your Credit with Richard Moxley

Why Are Credit Reports Always Wrong? Fixing Errors w/ Richard Moxley “The Credit Game: Play To Win – Richard Moxley”

Straight Talk On Your Money – Doug Hoyes

Hoyes Michalos YouTube Hoyes Michalos Blog Doug Hoyes on X Find a Hoyes Michalos Office in Your Area Here Disclaimer:The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.