DebtMatters Podcast

If you are like the average Canadian who will carry some level of debt, your 3 digit credit score can have a lot of influence on your life. It is a financial gauge that tells you and others how you are doing financially and if you can be trusted to use credit responsibly. How credit worthy are you? Licensed Insolvency Trustee, Mary-Ann Marriot explains the difference between credit worthiness and what your credit score is. She talks about the 3 elements that can ensure the best score.

Other topics covered include: 

• Why a good credit rating matters
• How to improve your score
• Credit utilization and the optimum amount of balances
• Increasing your credit limit for a better score
• The biggest mistake people make with their credit score

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of finances and debt management. Whether you need help improving your credit score or you are filing for Bankruptcy, you can be assured they will have your best interest in mind.

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Understand the Power of Your Credit Score
• What Does Your Credit Report Say About You?

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To be discharged from Bankruptcy means that you are released from your obligations to repay all debts that have been included in the Bankruptcy filing. Although this is an important step in eliminating debt, the process is not complete until you receive your discharge. After you have gone through all of the requirements, your Licensed Insolvency Trustee will issue you a Certificate of Discharge. What actually happens after you have been discharged from your Bankruptcy? Is there a possibility of getting credit? How do you reestablish your credit score - if in fact you are able to obtain credit.  

Licensed Insolvency Trustee, Mary-Ann Marriot answers some of these questions and more. She discusses:

• The different types of Bankruptcy discharges
• Prepaid credit cards versus secured credit cards
• Requirements to obtain a discharge
• Steps to rebuild your credit
• How long Bankruptcy lasts

Speaking with a Licensed Insolvency Trustee ensures that you are getting the best qualified help with your debt. They are the only federally regulated debt advisors in Canada. From budgeting to Bankruptcy, you can be assured you are receiving unbiased advice.

Mary-Ann Marriot has been working in the insolvency field for over 25 years. She received her Chartered Insolvency & Restructuring Professional designation in 2005 and her Licensed Insolvency Trustee license in 2014.

Mary-Ann is passionate about helping people become financially literate. She feels honoured to be able to help individuals discover solutions to overwhelming situations and find peace-of-mind in their lives. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• What Happens When You File Bankruptcy & How to File Bankruptcy in Canada
• Declaring Personal Bankruptcy in Canada

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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 debt. Debt is debt whether you are disabled or not, but there are programs and tax benefits specifically set up to help.

Topics covered include:

• Short and long term disability insurance
• Earning money while on disability 
• Repossession laws and consequences of stopping your payments on a secured loans
• Disability tax credits
• When to seek the advice of a Licensed Insolvency Trustee 

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest advice and help you find a solution to your debt problem.

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.  

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• When Should I Seek Debt Relief?
• Get Financial Assistance or Debt Forgiveness Through a Debt Relief Program

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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 set to help people get a fresh financial start and not to cause hardship.

Derek also explains:

• How the Bankruptcy process works
• The exemption amounts for homes, vehicles, and tools of the trade 
• What kind of RRSPs and company pensions contributions are exempt
• Bankruptcy duties and the discharge process
• How court mediation works

Bankruptcy laws are in place to give the honest debtor a chance to break free from the cycle of debt. Licensed Insolvency Trustees are federally regulated and the only professionals licensed to administer Consumer Proposals and Bankruptcies.

Derek Chase is a Licensed Insolvency Trustee in British Columbia. He has been helping individuals and corporations restructure their debt since 1997. His areas of practice include personal and corporate insolvency including Consumer Proposals and Bankruptcy. The best part of his work is to be able to witness lives change for the better when the heavy burden of unmanageable debt is lifted.  

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• BC Bankruptcy Exemptions: Will I Lose Everything if I File for Bankruptcy?
• Bankruptcy Myths: Debunking the Misconceptions of Bankruptcy

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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 professionals that may be able to help and what they offer. He also covers:

• The first step to taking back control of your finances
• Understanding the different debt relief options that are available
• What Licensed Insolvency Trustees do and how they can help
• Strategies to reduce debt
• What happens in an initial consultation with a Licensed Insolvency Trustee

Licensed Insolvency Trustees are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. They can help you take control of your debt and offer full services from budgeting to Bankruptcy. 

Leigh began his career as an Official Receiver with the Office of the Superintendent of Bankruptcy. He is a Certified Professional Accountant and attained his license as a  Licensed Insolvency Trustee in 1980. 

LCTaylor’s mission is to help people get out of debt through compassionate care and professional service. With over 40 years experience in the insolvency field, Leigh and his staff have helped over 50,000 Manitobans solve their debt problems. 

• LCTaylor Licensed Insolvency Trustee
• Six Top Tips That Help Avoid Debt
• How to Get Out of Debt Fast: Debt Help for Your Debt Problems

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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 finances can alleviate the stress. Leigh talks about some of the options to deal with debt.

Other topics covered include:

• Current rates of insolvencies and what the future may hold
• How government programs have affected Canadian’s finances
• The first step to taking back the control of your finances
• The importance of getting all the family onboard with budgeting
• The role of a Licensed Insolvency Trustee and how they can help

Licensed Insolvency Trustees are considered to be some of the best financial advisors. They are licensed and regulated by the federal government of Canada and can help you take control of your debt.

Leigh began his career as an Official Receiver with the Office of the Superintendent of Bankruptcy. He is a Certified Professional Accountant and attained his license as a  Licensed Insolvency Trustee in 1980. 

LCTaylor’s mission is to help people get out of debt through compassionate care and professional service. With over 40 years experience in the insolvency field, Leigh and his staff have helped over 50,000 Manitobans solve their debt problems.

• LCTaylor Licensed Insolvency Trustee
• $200 Away from Bankruptcy
• How to Avoid Financial Difficulty When Good Intentions Leave You Broke

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Canadian’s consumer debt has climbed to $2.3 trillion over the last year. With this spike many are realizing how bad their debt is and now is the time to do something about it. With the internet full of so many different resources, it can be mind boggling. Where do you go for help? The first thing to do is to get over the stigma associated with debt. Bad debt can happen to anyone, for any number of reasons. Seeking help doesn’t mean you have failed - it means you are being proactive in taking the first step in eliminating the stress of carrying too much debt.

Today’s podcast features Licensed Insolvency Trustee, Daniel Maksymchak from LCTaylor in Winnipeg. Daniel guides us through the ins and outs of finding the right type of help for your unique situation.

Daniel also discusses:

• Different types of financial advice available
• What to look for in a financial consultant
• The role of a Licensed Insolvency Trustee
• What to be wary of when you speak to an advisor
• The advantages of dealing with a local professional

A Licensed Insolvency Trustee is a federally regulated, highly qualified debt professional. They are considered some of the best financial advisors in the country. You can be assured that they will give you honest advice about how you can take control of your debt. Booking a consultation will not cost you anything. What do you have to lose - other than the stress of carrying too much debt?

Daniel has worked in the bankruptcy and insolvency field since 2010. His career began in accounting, receiving his Chartered Accountant designation in 2009. He attained his Licensed Insolvency Trustee accreditation in 2014. 

Daniel is a member of the Canadian Association of Insolvency and Restructuring Professional (CAIRP) and has volunteered his time with numerous causes in the community. 

• LCTaylor Licensed Insolvency Trustee
• Meet the LCTaylor Team of Local Manitoba Debt Help Experts
• 5 Ways a Licensed Insolvency Trustee Can Help

With the rising cost of living and higher interest rates, Canadians are struggling to keep up. Increasingly they are adding to their debt load in order to cover their day to day living expenses. Consolidating multiple debt payments into one can be a way to simplify finances. But not all consolidation loans are created equal. When is a debt consolidation loan the right option when you’re dealing with debt that has got out of control? Could this be the right choice for you? Licensed Insolvency Trustee, Daniel Maksymchak talks about the ins and outs of consolidation loans. He also covers:

• Why people take out consolidation loans and the advantages
• Using your house to obtain a Home Equity Line of Credit (HELOC)
• Where to start when applying for a consolidation loan
• How to evaluate if the terms of the loan are good 
• The similarities of a Consumer Proposal and its benefits

Licensed Insolvency Trustees are debt experts. They are federally regulated and approved by the Canadian government. With their extensive knowledge they will give you honest advice and help you find a solution to your debt problem. 

Daniel has worked in the bankruptcy and insolvency field since 2010. His career began in accounting, receiving his Chartered Accountant designation in 2009. He attained his Licensed Insolvency Trustee accreditation in 2014. 

Daniel is a member of the Canadian Association of Insolvency and Restructuring Professional (CAIRP) and has volunteered his time with numerous causes in the community. 

• LCTaylor Licensed Insolvency Trustee
• Pros and Cons of Debt Consolidation
• What is Debt Consolidation?

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 do. Licensed Insolvency Trustee, Matthew Fader, sees people who have had lasting consequences when co-signed loans have defaulted or money has not been paid back. He gives his advice on:

• How to protect yourself when lending money or co-signing loans
• What to can do when the money you lend is not paid back
• The percentage of the loan you are liable for when you co-sign
• When a request for money gives you an opportunity to get involved with their finances
• Possible lasting consequences to your finances when things go sideways

If you are in financial trouble, speak with a Licensed Insolvency Trustee. They are federally regulated and approved by the Canadian government. With their extensive knowledge of financial services, they will give you honest advice and help you find a solution to your debt problem.

Matthew has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Licensed Insolvency Trustee Services – Become Debt Free
• Payday Loans: Instant Loans or Fast Loans to Be Wary About

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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, Matthew Fader, talks about mortgage and debt. He goes through the different refinancing options available and explains some of the terms used to describe them. He also covers:

• The basics of conventional mortgages
• The pros and cons of Home Equity Lines of Credit (HELOC)
• Your mortgage’s paper equity 
• Shopping for mortgage insurance
• Options for 2nd and 3rd mortgages

If you are struggling with your mortgage payments, Licensed Insolvency Trustees can help you take control of your debt. They are considered some of the best financial advisors in the country and the only ones licensed by the federal government of Canada. 

Matthew has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect. 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Preparing for Higher Interest Rates When You Have Mortgage Debt
• Is a Home Equity Line of Credit (Heloc) A Good Way to Get Out of Debt?

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