DebtMatters Podcast

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 long?
• What debts are not covered in a bankruptcy?
• What are the other options I should be considering?

Today’s attitudes have shifted due to the change in the economic conditions in our country. There is no shame in using this legal procedure to deal with unmanageable debt. Bankruptcy should be a strategic decision rather than a stigma. 

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. 

• Licensed Insolvency Trustee - Bankruptcy Trustee BC: Derek Chase & Associates
• Will Anyone Know If I Declare Bankruptcy? | Declaring Bankruptcy In BC
• Personal Bankruptcy Services From Bankruptcy Trustee BC | Filing Bankruptcy

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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 Chase, Licensed Insolvency Trustee, in this podcast as he talks about: 

• What percentage of your income should be going towards housing
• Suggestions of how to reduce your housing costs
• The value of tracking expenses and budgeting
• One of the most popular debt relief options

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They will give you honest advice about all the options available to you if you find yourself with unmanageable debt. 

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.  

• Licensed Insolvency Trustee - Bankruptcy Trustee BC: Derek Chase & Associates
• Vancouver Bankruptcy | Vancouver Island Debt Relief
• Canadian Debt Relief: A Proven Debt Solution To Track Expenses & Save Money

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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:

• Refinancing your home with your mortgage lender
• Taking out a second mortgage
• Home Equity Line of Credit (HELOC)
• Risks involved in using the equity in your home 

Licensed Insolvency Trustees should be your first point of contact when you are looking for help with unmanageable debt. They are federally licensed and regulated which ensures you get unbiased advice.

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.  

• Licensed Insolvency Trustee - Bankruptcy Trustee BC: Derek Chase & Associates
• BC Bankruptcy Exemptions When You File For Bankruptcy
• Mortgage Foreclosure Myths | Mortgage Payment & Interest Options To Consider

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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 credit counselling

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. 

• Allan Marshall & Associates - Licensed Insolvency Trustee | Bankruptcy Trustee
• Payday Loan Debt Relief | Possible Solutions for Payday Advances & Fast Loans
• Debt Consolidation & Debt Solutions | Consolidation Loan & Debt Help

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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 topics covered are:

• The implications of retiring with debt
• Borrowing money to fund RRSP’s
• Balancing saving for retirement with sacrificing the quality of life
• Developing a structured plan for saving

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. This podcast is a ‘must listen’ if you are like millions of Canadians that are wondering how to navigate saving for their retirement. 

• Allan Marshall & Associates - Licensed Insolvency Trustee | Bankruptcy Trustee
• Licensed Insolvency Trustee Services | Become Debt Free | We Can Help
• Ready, Set, Go! Your Path to Debt-Free Living - We Can Help

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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 interest
• What happens when your file is sent to a collection agency
• Wage garnishments, statement of claim judgments

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

Additional Resources

• LCTaylor - Licensed Insolvency Trustee in Winnipeg | Bankruptcy Trustee Canada
• Manage your credit card debt and avoid a money crisis
• Get These Six Top Tips That Help Avoid Debt

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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 some of the most frequently asked questions:

• How does a Consumer Proposal differ from a debt consolidation loan?
• If I have equity in my home should I file a Consumer Proposal or a Bankruptcy?
• How do I get a Stay of Proceedings that will stop wage garnishment and all other collection activity?
• Who do I turn to for advice and what is the first step I should take?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast is a great starting point to get the facts from an experienced debt expert before you make any decisions.

Additional Resources:

• LCTaylor – Licensed Insolvency Trustee in Winnipeg | Bankruptcy Trustee Canada
• Consumer Proposals Winnipeg – What Is A Consumer Proposal
• Bankruptcy Winnipeg & Bankruptcy Trustee Winnipeg – Bankruptcy Services

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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 everything when you file a Bankruptcy?
• What’s the difference between filing a Consumer Proposal and a Bankruptcy?
• What actually happens when I make that first call to a Trustee?

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you honest advice about all the options available to you. This podcast is a great starting point to get the facts from an experienced debt expert before you make any decisions. 

Additional Resources:

• Derek Chase & Associates Licensed Insolvency Trustee Website
• Personal Bankruptcy Services From Bankruptcy Trustee BC
• Consumer Proposal in BC – What Is A Consumer Proposal?

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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.

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