DebtMatters Podcast

Debt cycles are easy to fall into but with a little planning and some discipline, you don’t have to keep spinning your wheels. Acknowledging that you’re trapped in a cycle of debt is a good place to start. In this timely podcast, Licensed Insolvency Trustee, Derek Chase, talks about strategies for managing debt. Other topics covered include:

• Payday loans and line of credit traps.
• Looking deeper into Intergenerational debt cycles 
• Strategies to build momentum for savings
• Ways to increase your financial literacy
• Importance of a cash flow review

If you are looking for a way to break your debt cycle, speak with a Licensed Insolvency Trustee and be assured that you will get qualified advice. They are regulated and licensed by the Canadian government and will give you information you can trust. 

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.  

• Chase & Associates Licensed Insolvency Trustee
• How to Break the Debt Cycle
• When Should I Seek Debt Relief?

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

If you are already under stress as a result of your financial situation, it’s difficult to decide where to turn when looking for debt relief. Meeting with someone in person who has an office where you live can be helpful. Licensed Insolvency Trustee, Derek Chase explains the benefits of seeking out a local Trustee firm that you feel comfortable with. Meeting face to face can be reassuring, avoiding the pitfalls of doing business on the internet. 

Derek also discusses:

• The benefits of consulting with a Licensed Insolvency Trustee
• The strict code of ethics LIT’s must follow
• Why Bankruptcy is the last option discussed
• When to seek help
• Getting fair and honest advice from a local LIT

Licensed Insolvency Trustees are federally regulated and experts in debt management solutions. They follow a strict code of ethics as well as government regulations. 

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.  

• Chase & Associates Licensed Insolvency Trustee
• Code of Ethics for Licensed Insolvency Trustees
• Three Things to Know About Insolvency

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Anyone can fall behind on debt payments especially in these uncertain economic times. Having unpaid debt turned over to a debt collector is a worst-case scenario for the majority of Canadians. But when this happens, it’s important to know how to minimize the impact if a debt collection agency does come calling. Licensed Insolvency Trustee, Mary-Ann Marriott knows that having a debt collector call can put more pressure on top of the debt itself.

In this podcast she talks about:

• The first thing you need to do when you get a call
• Why you need to keep a log of all communication
• The options available when an account is in collections
• How to negotiate a settlement
• When to contact a lawyer
• Reducing the impact on your credit score
• Where to find out about your rights

Licensed Insolvency Trustees are considered to be the best debt advisors in the country and are licensed by the federal government of Canada. If you are concerned about your debt, book a free consultation to find out what options are available to you. They can help get your finances back on track. 

Mary-Ann Marriott 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
• How Should I Handle Creditor Calls and Harassment?
• Rebuilding Credit: How Long Will It Take to Get My Credit Back?

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Thousands of Canadian businesses exit the marketplace every year whether through filing Bankruptcy or just closing their doors. Many more are on a razor’s edge with the rising cost of servicing their debt due to higher interest rates. Today’s podcast looks at the cost of putting a business through Bankruptcy and other options that may be available. Licensed Insolvency Trustee, Mary-Ann Marriott also discusses how individual Bankruptcy differs from business Bankruptcy. 

Other topics covered:

• When filing for Bankruptcy is the best option
• Difference between filing as a sole proprietor vs an incorporated business
• Number one mistake businesses make when in financial trouble
• Process involved in filing a Business Bankruptcy
• What happens when business loans are personally guaranteed 
• How to protect yourself when starting out

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. If you are considering filing for Bankruptcy, either personal or business, you can be assured they will have your best interest in mind.

Mary-Ann Marriott 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
• Are You a Small Business Owner? What You Need to Know About Business Bankruptcy and Other Options
• Canadian Business Bankruptcies Surge – Support Your Local Small Businesses

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

While most Canadians view student loans as an investment rather than an expense, they can become a burden after graduation. As the years go by and more unsecured debt is added, it can be a struggle to keep up. If you are contemplating filing for personal Bankruptcy in the hopes of discharging your student loan debt, you need to make sure your timing is right. Licensed Insolvency Trustee, Francyne Myers goes through the rules for including student loans in a Bankruptcy. She also discusses:

• The seven- year rule
• The importance of accurate study period ending dates
• When it makes sense to keep paying student loans
• Single date approach & multiple date apreach
• The 5 year court application rule
• Chances of obtaining further student loans after Bankruptcy

If you are unsure of where to turn, a Licensed Insolvency Trustees should be your first call. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. The initial consultation is always free and you can be assured that you will receive unbiased advice.

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.  

• Allan Marshall & Associates Licensed Insolvency Trustee
• Student Loan Repayments: What to Do to Afford Them
• National Student Loans: How Repayment Assistance Plan (RAP) Works

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Under the Canadian Bankruptcy & Insolvency Act there are two options that allow consumers to eliminate debt, filing a Bankruptcy or a Consumer Proposal. The option you chose is based on your personal situation at the time of filing. But what happens if your financial circumstances change? Can you switch from a Bankruptcy to a Consumer Proposal or if you have filed a Consumer Proposal can you change to a Bankruptcy? When would it make sense to switch?

Licensed Insolvency Trustee, Francyne Myers walks us through these two debt relief options and explains when it may be beneficial to have your LIT make the change. She also discusses:

• How an inheritance, sudden windfall or increase in your salary could affect your insolvency
• Three options you have if you can’t keep up with your Consumer Proposal payments
• Advantages and disadvantages of making changes
• How your credit score will be affected when you make a switch
• Why it’s important to work closely with your LIT to make the right choices

Licensed Insolvency Trustees are regulated by the federal government of Canada and are the only professionals who can administer a Consumer Proposal or Bankruptcy. With their extensive knowledge, you can be assured they will give you honest advice to help you make the best possible decision.

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.  

• Allan Marshall & Associates Licensed Insolvency Trustee
• Understanding the Top 5 Reasons for Declaring Bankruptcy
• What Is the Consumer Protection Act?

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Living paycheque to paycheque can be stressful, to say the least. A recent poll by Leger found that almost half of Canadians are living that way. Stepping off that treadmill is possible with a few sacrifices and a bit of hard work. Licensed Insolvency Trustee, Leigh Taylor talks about the paycheque trap - how it can slowly happen if we don’t pay close attention and become a bit more proactive. He also discusses:

• Advertising tricks we may not be aware of
• The slippery slope that can lead to debt problems
• How lack of budgeting can be one of the biggest factor
• Steps to creating a realistic budget
• High interest lenders
• Talking to a Licensed Insolvency Trustee to find out your options

You can be assured that the advice you receive from a Licensed Insolvency Trustee will be unbiased and have your best interests in mind. They are licensed by the federal government and follow a strict code of ethics. 

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
• 9 Debt Warning Signs to Watch Out for
• How to Get Out of Debt Fast: Debt Help for Your Debt Problems

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Even though Canada’s economy is thriving in many ways, the rising cost of living is putting pressure on Canadian’s finances. As the price of goods continues to rise, household budgets are getting squeezed from all angles. Rising inflation is affecting most of us and in this podcast, Licensed Insolvency Trustee, Leigh Taylor discusses how we can protect ourselves. Topics covered:

• How the cost of living is measured by the consumer price index 
• Deflation and the effects on the economy 
• How quantitative easement controls inflation
• Ways to protect ourselves as the cost of living rises
• Talking to a Licensed Insolvency Trustee sooner rather than later

Federally regulated, Licensed Insolvency Trustees should be the first call you make when you are struggling with unmanageable debt. They will discuss with you all the options available to you and help you determine the best way forward. Your initial consultation is always free. 

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
• How Your Habits Can Impact Your Finances
• Maximum Rent Increases In Manitoba

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The top 2 insolvency options that provide debt relief in Canada are personal Bankruptcy and Consumer Proposals. Both resolve debt problems and provide legal protection from your creditors. However, they are significantly different from each other. Everyone’s situation is different and there is no one size fits all solution in determining which is the best option for you. Your assets, income and the total amount of debt are some of the key factors to be considered. 

In this podcast, Licensed Insolvency Trustee, Julie Drane looks at the differences and how she helps determine the best way forward. Topics include:

• When a filing a Bankruptcy is the best option
• When filing a Consumer Proposal is better
• The effect on your credit rating
• Paying your Consumer Proposal off quicker
• How choosing to file Bankruptcy or a Consumer Proposal can affect different professions and the ability to sit on a board

Licensed Insolvency Trustees are regulated by the federal government of Canada and are the only professionals who can administer a Consumer Proposal or Bankruptcy. With their extensive knowledge, you can be assured they will give you honest advice to help you make the best possible decision.

Julie began her career in the insolvency industry in 1997 with Canada Trust, Citi Financial and then with a corporate trustee. She achieved her goal of becoming a Licensed Insolvency Trustee in 2008 and now focuses on consumer insolvency. 

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

• Allan Marshall & Associates Licensed Insolvency Trustee
• Debt Consumer Proposal: What Types of Debt Can It Pay Off?
• Considering Hiring a Financial Advisor to Help Manage Your Money? Here’s What You Need to Know

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The mere mention of the word Bankruptcy can send shivers down most people’s spines, but it doesn’t have to be a scary process. As with most fears, they stem from the ‘unknown’. Most people who have been through a Bankruptcy don’t tend to share their experiences. This podcast is meant to lift the curtain on this debt relief option and take the mystery out of it. 

Julie Drane, Licensed Insolvency Trustee describes the steps involved, before, during and after you have filed for Bankruptcy.

 She discusses:

• How to tell when it’s time to seek help
• Steps you should take before filing for Bankruptcy
• Process of filing with your Licensed Insolvency Trustee
• What a Stay of Proceeding does
• Rebuilding credit after your discharge

If you are unsure of where to turn, a Licensed Insolvency Trustees should be your first call. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. The initial consultation is always free and you can be assured that you will receive unbiased advice.

Julie began her career in the insolvency industry in 1997 with Canada Trust, Citi Financial and then with a corporate trustee. She achieved her goal of becoming a Licensed Insolvency Trustee in 2008 and now focuses on consumer insolvency. 

Julie’s depth of knowledge and commitment to service allows her clients to find the best option for a fresh start. She is now working in the Victoria, BC offices.

• Allan Marshall & Associates Licensed Insolvency Trustee
• Why You Should Open a New Bank Account Before Filing a Bankruptcy or Consumer Proposal
• FAQ about Bankruptcy

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.