DebtMatters Podcast

Financial literacy is the ability to understand and effectively use skills such as budgeting, saving, taxation, and investing. When you are financially literate you have the foundation of a relationship with money. Achieving financial literacy is crucial in today’s world as we navigate through everyday facets of life, such as student loans, mortgages, credit cards, investments and at some point - retirement. But not all of us can afford the time to get a degree in finance. The old joke of how you eat an elephant - just one bite of a time comes to mind when Licensed Insolvency Trustee, Derek Chase breaks financial literacy down for us. 

Derek discusses:

• A starting point to change the family lineage financial illiteracy
• Importance of finding a mentor
• Where to find resources with good Canadian content
• Strategies to make time to learn
• The payoff of families and partners pulling together and getting onboard

If you are struggling with your finances, Licensed Insolvency Trustees can help you get back on track. From budgeting to Bankruptcy, they are considered one of the best resources to consult, licensed and regulated by the federal government of Canada. 

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
• Financial Literacy in Canada
• How to Break the Debt Cycle

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 overwhelmed with credit card debt, student loans, tax debt, payday loans or any other unsecured liabilities filing a Consumer Proposal may be your best option. A Consumer Proposal is a debt settlement solution where an offer is made to your unsecured creditors to settle your debts. When the terms are agreed upon, you will then make affordable monthly payments with no interest for up to 5 years. A proposal is based on your financial circumstances at the time of filing. But what happens if your circumstances change or you simply change your mind? Can you cancel or withdraw? 

These are questions answered by Matthew Fader, a Licensed Insolvency Trustee at Allan Marshall & Associates. Along with cancellation information, Matthew also discusses:

• Why a Consumer Proposal in a good alternative to Bankruptcy
• How long creditors have to approve a proposal
• The importance of being properly informed before you file
• Withdrawing a Consumer Proposal before 60 days
• What happens when there is joint debt
• Consequences of defaulting payments for 3 months
• Filing for Bankruptcy while in a Consumer Proposal

Licensed Insolvency Trustees can help you make the best decision about how to get your finances back on track. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. 

Licensed Insolvency Trustee Matthew Fader 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
• Consumer Proposals in Canada
• What Is a Consumer Proposal?

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

Canadians think they need savings of $1.7 million to retire according to a recent BMO survey. WIth a large majority of people struggling to make ends meet, saving for retirement seems out of reach. Realistically, how much do you need to retire? And what happens if you don’t have enough money saved? How much longer will you have to keep working before you can retire?

Licensed Insolvency Trustee, Matthew Fader talks about what Canadians are doing to prepare and how you can budget for your retirement. Other topics covered are:

• Why slowing down may be the new version of retirement
• Shifting perception and retirement trends
• Saving while in debt
• Options to get you back on track
• Free or cost effective resources available

Licensed Insolvency Trustees are federally regulated and approved by the Canadian government. They are the ones that will give you unbiased advice about your finances and options for managing your debt. 

Licensed Insolvency Trustee Matthew Fader 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
• Are You Retiring With Debt in Canada?
• Retirement Planning Tools: Old Age Security (OAS), RRSP’s & Pension Plans

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

Most of us have experienced money stress to some degree, but left unchecked, it can put you in a state of fear which can prevent you from facing your situation and moving forward. Financial worries can have an adverse effect on both your psychological and physical health. Taking measurable action to improve your economic situation can help you overcome financial stress. These are unprecedented times we are living in as rising prices are putting even more pressure on fragile finances. 

Francyne Myers, Licensed Insolvency Trustee, talks about the financial stress most Canadians are dealing with. She covers:

• How conventional wisdom does not apply anymore in this
• Mortgage renewal advice and negotiating with your bank
• Tracking your expenditures - even the small ones
• Government savings programs for homebuyers
• Money saving tips 

If you are struggling with debt and can’t seem to find a way out, contact a Licensed Insolvency Trustee where you live. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines. 

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
• Reduce Your Financial Stress & Experience Debt Relief
• Learn How to Survive a Personal Financial Crisis

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

A will is a legal and binding document that allows you to determine how you want to have your assets distributed after you die. Having a will in place gives you a chance to clearly communicate your intentions and to name an Executor that will manage your estate according to your wishes. Do you actually need a will if you don’t have a lot of assets? The short answer is ‘absolutely’. Licensed Insolvency Trustee, Francyne Myers, will tell you why. 

This podcast covers:

• The importance of having a will and what happens if you don’t
• How not having a will affects common law partners and step children
• Cost of preparing a will
• Using a will kit versus an estate lawyer
• Why naming an Enduring Power of Attorney and Executor is important

Licensed Insolvency Trustees do more than file insolvencies. They are licensed and regulated debt professionals that can give you unbiased advice about your financial affairs. 

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
• Licensed Insolvency Trustee Services – Become Debt Free
• Declaring Personal Bankruptcy in Canada

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

Very few Canadians are 100% debt-free. Debt is normal but over the past year consumer debt has notably increased. Even though inflation is slowly easing, it is still relatively high. Unfortunately wages haven’t grown with inflation leaving the average Canadian with less money to spend. This means many have had to  increase their reliance on credit cards to purchase necessities. This timely podcast features Licensed Insolvency Trustee, Leigh Taylor, discussing the rise of consumer debt in Canada and what the future might look like. What can you do when your debt is mounting and where you can turn. 

Leigh also covers:

• How past low interest rates are contributing to insolvencies
• The possible effects of a looming recession
• Insolvency statistics
• First signs of debt becoming and problem and steps to take
• Why a Licensed Insolvency Trustee should be your first port-of-call

Federally regulated, Licensed Insolvency Trustees are knowledgeable in all aspects of debt management. Whether you require assistance in creating a better budget or need to file for Bankruptcy, you can be assured they will go through all of the options available before you make a decision. 

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
• Changing Financial Times
• Post-Covid Inflation and Its Effect on Individuals, and Businesses, Including Farms

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

As the cost of living continues to rise, more Canadians are finding themselves in financial trouble. While it’s normal to have some level of debt, it becomes a problem when it becomes unmanageable. According to a recent report from Equifax, the average credit score of Canadians is between 600 and 650. People with scores equal or above 650 are considered to be financially stable and those above 760 are considered excellent.

But what happens to your credit score if you file for Bankruptcy or a Consumer Proposal? How is your credit rating affected and how can you rebuild it? 

Licensed Insolvency Trustee, Mary-Ann Marriot answers those questions and more. She also covers:

• How long it takes to rebuild your score 
• The difference between your credit score and your credit worthiness
• Common mistakes made when rebuilding credit scores
• How often you should check your score
• Credit reporting services: Borrowell and Credit Karma
• Applying for credit after an insolvency and secured credit cards

If you need advice about anything from budgeting to Bankruptcy contact a Licensed Insolvency Trustee. They are federally regulated and licensed by the Canadian government and will give you honest, 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
• Rebuilding Credit: How Long Will It Take To Get My Credit Back?
• 3 Forms of Payment That Help Build Credit After Bankruptcy

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

A spending freeze is simply a commitment you make to not spend money on anything that isn’t necessary. You would still pay your bills and make sure your family is fed and taken care of, but no other spending is allowed. Taking this challenge can reset the way you think about money. Licensed Insolvency Trustee, Mary Ann Marriott speaks from personal experience, setting up her own personal spending freeze. She talks about the pros and cons and how being aware of your spending habits can help you reevaluate what is important. 

Mary Ann also covers:

• Using the spending freeze as a learning tool
• Identifying needs from wants and shedding light on spending habits
• The benefits of practicing delayed gratification 
• Fun ways to make the freeze affective
• Choosing a realistic time frame 

If you are having financial difficulties and need advice about budgeting or how to get out of debt, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines. 

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
• Canadian Debt Is Rising – Here’s How It Affects You & What You Can Do About It
• Canada Inflation: Find Out What You Can Do About Today’s Soaring Prices

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

If you earn income from a sole proprietorship or partnership, in other words self employed, you’re responsible for tracking your income and expenses and paying taxes. But as you know or will find out, self employed taxes are a bit more complicated than regular taxes. Ideally, to keep on top of your taxes, they should be paid quarterly or annually to avoid any interest charges or penalties. But many self employed people don’t live in that ideal world and struggle with bookkeeping and accounting. 

Derek Chase has been a Licensed Insolvency Trustee for over 25 years and shares his knowledge about filing taxes and avoiding tax debt. In this podcast he covers:

• Different types of taxes for the self employed  
• Consequences of missing deadlines or not filing taxes
• Fines, penalties, and interest rates charged by the CRA
• Strategies to stay on top of your taxes
• Advantages of hiring a bookkeeper

If you are struggling with tax debt and need advice, a Licensed Insolvency Trustee should be your first call. They are licensed and regulated by the Canadian government and adhere to strict ethical guidelines. 

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
• Tax Debt Help – What You Need to Know
• How Your Income Tax Return Is Filed During Bankruptcy

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

Money management isn’t always easy but teaching it to our kids can be just as difficult. But if they grow up without a proper understanding of their finances it can create a gap in their life skills. Although some schools do teach the basics of financial literacy, we can still have an impact on our kids' understanding of money. Talking about finances and finding teachable moments can give them the leg up that may make all the difference in their lives. 

Licensed Insolvency Trustee, Derek Chase, shares his thoughts about how to better prepare our kids for their financial future. He covers the following topics and more:

• When is the right time to start
• The practically of handling their own money
• Teaching the different acronyms and explaining their functions
• Advantages and eventual outcomes of starting to save early
• The cost of holding debt and not filing taxes
• Resources such as The Wealthy Barber

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. With their knowledge and expertise you can be assured they will give you the best 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. 

• Derek L Chase & Associates Ltd. Licensed Insolvency Trustee
• Young Adults and Credit Card Debt
• Help With Student Loan Debt

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