Have you ever wondered what life would look like if your credit score didn’t exist? Licensed Insolvency Trustees Doug Hoyes and Ted Michalos compare Canada’s score-driven system with France’s radically different, no-score approach.

You’ll learn:

• How France decides who can borrow—without a three-digit score.
• The cultural attitudes that shape lending and spending in France and Canada
• Why credit-report errors and identity theft are bigger issues than most Canadians realize.
• Whether Canada could (or should) adopt parts of France’s model—and what you can do right now to work the system in your favour.

(00:00)  Intro – How Canada Tracks Credit with TransUnion & Equifax 

(04:45)  France’s “No-Score” System: How Trustworthiness Is Judged 

(07:10)  Lending Culture in France: Relationships Over Ratings 

(09:00)  Lending Culture in Canada: Why Scores Still Rule 

(13:00)  Could Canada Move Toward a French-Style Model? 

(15:50)  Credit-Report Errors: The Hidden Cost of Scores 

(19:00)  Building Rapport with Lenders: Help or Hindrance? 

(20:30)  Identity Theft Risks: Centralized Data vs. Decentralized Files 

(22:00)  Which System Carries Less Bias—France or Canada? 

(26:30)  Is Canada’s Credit Reporting Actually Working? 

(28:00)  Takeaways: How to Navigate Canada’s System to Your Advantage 

  The Big Credit Score Scam Solutions for Maxed-Out Credit Cards Hoyes Michalos FREE Credit Rebuilding Course and Learning Resources Sign Up For The Monthly Debt Free Digest The Best Canadian Personal Finance and Debt Management TikToks

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 personal guidance from 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, strategies, or digital tools/apps discussed.

Zombie memberships are real – and they’re feasting on your budget every month.

Forgotten fitness app? Digital subscription you thought was cancelled? Auto-renewals can quietly drain your finances if you're not paying attention.

Doug Hoyes and Ted Michalos discuss why some subscriptions are so easy to miss, and how to track, cancel, and avoid them going forward. This episode includes real examples, expert tips, and even a personal story from the Hoyes Michalos team, proving it can happen to anyone.

(00:00) Are You Paying for Subscriptions You Forgot About?

(03:00) Fitness Classes, Digital Apps & Other Zombie Memberships 

(07:00) Why Auto-Renewal Is a Red Flag 

(12:00) How to Identify What’s Draining Your Cash 

(16:00) Our Own Zombie Membership Story 

(17:30) Why Cancelling Is So Hard 

(19:30) Track It and Cancel It Fast 

(21:00) Use the “One In, One Out” Rule 

(24:00) Try Before You Buy: Avoid Entering Credit Card Info 

(27:00) You Don’t Have to Give Up What Works for You  Hoyes Michalos FREE Credit Rebuilding Course and Learning Resources Balancing Needs Vs Wants When Budgeting What To Do About Credit Card Debt In Collections Sign Up For The Monthly Debt Free Digest Get A Personalized Debt Plan

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 personal guidance from 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, strategies, or digital tools/apps discussed.

What legal actions can creditors take if you stop paying your debts? From collection calls to lawsuits and wage garnishments, Licensed Insolvency Trustees explain the real timeline of creditor actions—including how the CRA (Canada Revenue Agency) collects without going to court, and how to avoid scams when seeking help.

✅ Know your rights✅ Understand the legal process✅ Learn when (and how) to take action with confidence 00:00 – Can You Go to Jail for Not Paying Debt in Canada? 03:00 – When Do Creditors Start Calling After Missed Payments? 06:45 – When Can Creditors Start Legal Action Against You? 09:40 – Understanding the Statute of Limitations on Debt in Canada 12:20 – Debt Collections vs. Debt Buyers: Why Debts Are Sold 16:00 – How to Know If You're Actually Being Sued 17:00 – Superior Court vs. Small Claims Court: What If You Ignore It? 20:00 – CRA Collection Powers: Wage Garnishment Without Court 24:00 – Court-Ordered Support Payments (e.g., Child or Spousal Support) 26:00 – Practical Tips for Dealing with Debt Collectors 27:30 – What to Do If You're Facing a Wage Garnishment 29:00 – Avoiding Debt Relief Scams: Why You Need a Licensed Insolvency Trustee

How To Find Legitimate Debt Help in Canada Legal Actions Creditors Can Take When You Don’t Pay

Hoyes Michalos YouTube: Will a Debt Collector Sue Me?

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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 personal guidance from 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, strategies, or digital tools/apps discussed.

Denied credit when you need it most? Learn why creditors reject credit and loan applications and what steps you can take next. This guide covers real solutions to dealing with emergency credit denial, from avoiding payday loan traps to protecting yourself financially in tough times. Doug and Ted also recommend using the links below to access your free credit reports, a right for all Canadians! You do not need to pay for your credit score, and finding the free report option on these websites can sometimes be tricky: Link to access your FREE Equifax Credit Report

Link to access your FREE TransUnion Report Sign Up for the Debt Free Digest (A monthly financial-motivation newsletter to your inbox!) (00:00) - Why You May Be Denied Credit 

(02:35) – What Is and Is Not on Your Credit Report 

(05:30) – Why Banks Prefer Lending Large Amounts 

(07:00) – How Lending Criteria Differs Between Lenders 

(08:00) – Why People Are Relying on Credit in Emergencies

(10:00) – What to Do Before Considering a Payday Loan 

(13:00) – The Payday Loan Cycle: Why It’s Hard to Escape 

(15:00) – Credit-Building Tips to Improve Your Chances 

(19:00) – Should You Cash Out an RRSP or TFSA? Pros and Cons 

(22:30) – Talking to Creditors: Can You Defer a Payment? 

(25:00) – Emergency Solutions When All Else Fails 

(27:00) – How to Protect Yourself Financially in a Survival Situation  Break the Payday Loan Cycle 13 Myths About Credit Card Debt in Canada What Debt Relief Options Are Available in Ontario?

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 personal guidance from 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, strategies, or digital tools/apps discussed.

What does it mean to be house poor in today’s Canadian economy? With home prices rising much faster than wages, more people are stretching their finances to buy property, only to find themselves stressed, overleveraged, and without a financial safety net. We explore how the definition of "house poor" has evolved, the role gig work and income instability play, and whether it's ever worth it to stretch your finances for a home. Most importantly, we share practical tools to help you avoid becoming house poor—or to recover if you’re already there. (0:00) Defining "House Poor": Understanding the Basics (2:00) The Changing Definition of House Poor Over Time (3:45) House Prices vs. Wages & Inflation (6:00) Gig Work & the Modern Workforce (8:30) When Is Being House Poor Acceptable? (13:00) Rethinking Homeownership as Investment (14:30) Practical Advice: How to Avoid Becoming House Poor (19:30) Financial Planning Tools: Calculating Your Homeownership Affordability (22:00) The Link Between Homeownership & Unsecured Debt (26:00) Getting Out of the House Poor Situation: Actionable Strategies What To Do If You Can’t Pay Your Mortgage Second Mortgage Home Equity Loan or Interest Free Consumer Proposal?

Can You Get A Mortgage With Bad Credit? DEBTASIZED - How Our Reliance on Credit Leads to Price Inflation FREE YouTube Doc Sign Up for the Debt Free Digest E-Newsletter Debt Free in 30 Podcast YouTube Channel Hoyes Michalos YouTube Channel  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 personal guidance from 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, strategies, or digital tools/apps discussed.

Loans are getting longer, interest rates are getting higher, and that shiny new car? It could lead to serious debt. We dive into Canadian data to help you make informed choices when it comes to buying, leasing, or walking away from a car loan that no longer makes sense. 

Can I Buy a Car With Bad Credit? Car Buying Options Keep You In a Debt Cycle How GMC Revolutionized the Car Loan Industry DocumentaryWhat Not To Do When Getting a Car Loan DEBTASIZED - How Our Reliance on Credit Leads to Price Inflation FREE YouTube Doc Sign Up for the Debt Free Digest

(00:00) – How to Get a Car Loan in Canada (02:00) – Exchange Rates & the Canadian Dollar Impact (03:30) – Used Car Prices Explained (04:30) – What Influences Interest Rates? (12:00) – Is Your Car Loan Secured? Risks of Repossession (13:30) – What Happens If You Miss Car Loan Payments? (15:00) – When and Why Do Lenders Repossess Cars? (19:00) – Smart Car Buying Tips: Save Money with Strategic Choices (22:00) – Car Leasing in Canada: Pros and Cons Compared (25:00) – How to Get Out of a Car Loan Legally and Strategically Visit us on social media for the best clips from the show and more!  Instagram Tik TokX Facebook LinkedIn 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 personal guidance from 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, strategies, or digital tools/apps discussed.

Saving money: the basic idea is easy, but the reality for Canadians often presents unexpected challenges. Join trusted Ontario experts Doug Hoyes and Ted Michalos as they discuss “saving” in today’s challenging economy. Learn how to calculate your personal savings rate, understand the obstacles many face (and strategies to overcome them!), and discover the true priorities, aspirations, and concerns driving those hard-earned Canadian dollars.

(0:00) Defining Savings: More Than Just Money in the Bank (2:20) Calculating Your Personal Savings Rate (4:00) The History of Canadian Savings Rates: Trends and Insights (8:45) Canadian Savings Today: Analyzing Current Rates (11:00) Understanding Financial Vulnerability: Populations Struggling to Save in Canada (16:00) What Canadians Are Saving For: Current Financial Priorities (19:00) Setting Savings Goals: How Much Should You Aim to Save? (24:00) Practical Tips for Easier Saving (28:00) Debt vs. Savings: Prioritizing Your Financial Health

4 Personal Finance Ratios That Measure Debt Risk Debt Repayment Calculator How To Deal With Debt in Retirement Sign Up for the Debt Free Digest FREE Credit Rebuilding Course 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 personal guidance from 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, strategies, or digital tools/apps discussed.

Artificial intelligence is no longer just a futuristic concept – it's actively reshaping the landscape of scams and posing a significant threat to your financial well-being. Are you prepared for this new era of fraud?

In this episode, we delve into the alarming ways AI is being used to create more sophisticated and personalized scams that could directly impact your debt. We'll explore how even familiar cons are evolving and, crucially, equip you with the knowledge you need to recognize the red flags and protect yourself online. (0:00) The Rise of AI Scams (2:00) The Growing Sophistication of Granny Scams (5:45) How Scammers Obtain Your Personal Information: Protecting Your Data (6:45) The Pig Butchering Scam: Understanding This Long-Term Financial Con (10:20) AI-Powered: How Technology Targets You (11:40) Recognizing Scam Red Flags: What to Do If You Suspect Fraud (16:30) Avoiding False Government Notices: Spotting Official-Looking Scams (21:00) Identifying False Advertisements: Protecting Yourself from Misleading Offers (23:30) Online Safety Tips: Protecting Your Finances (29:10) The Double-Edged Sword of AI: Benefits and Risks in the Digital Age Fraud Can Cause Debt Problems: Here’s How To Stay Protected How To Find Legitimate Debt Consultants in Canada Sign Up for the Debt Free Digest

FREE Credit Rebuilding Course

Debt Repayment Calculator

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 personal guidance from 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, strategies, or digital tools/apps discussed.

Ever feel like managing money comes with its own set of challenges? If you're neurodivergent, those challenges can sometimes feel amplified. In this episode, we welcome Licensed Insolvency Trustee Maureen Parent and dive into the crucial intersection of neurodivergence and debt, exploring how executive dysfunction, time blindness, and impulse spending can impact your financial life. Discover the power of habit stacking, mind mapping, "body-doubling" (hello, budget buddy!), and how tech can be a tool for embracing simplicity. Plus, we'll discuss guilt-free spending and why it's okay to invest in what truly supports you.  Tune in for actionable advice and a fresh perspective on navigating your finances! (0:00) - Understanding Neurodivergence: Impact & Why It Matters (4:45) - The Impact of Executive Dysfunction on Debt Management(7:00) - Strategies for Reducing Decision Fatigue in Finances(9:00) - Building Low-Effort Financial Habits with Habit Stacking(10:45) - How Time Blindness Can Affect Your Financial Planning (12:50) - Using Mind Mapping for a Visual Approach to Finances (14:00) - The Power of Body Doubling: Finding Your Budget Buddy (15:30) - Reframing Your Perspective on Financial Management (17:00) - Leveraging AI and Tech (or Simplicity) for Financial Success (20:00) - Coping Strategies for Impulse Spending (23:00) - Practical Financial Advice for Neurodivergent Individuals (and Everyone!) (27:10) - The Importance of Guilt-Free Spending and Investing in Your Needs Hoyes Michalos Effective Money Management Strategies Explore Credit Card Debt Relief Why We Overspend and How To Break Bad Money Habits Sign Up for the Debt Free Digest

FREE Credit Rebuilding Course

Debt Repayment Calculator 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 guidance from a qualified 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.