What is a Licensed Insolvency Trustee?

Ted Michalos student loan debt
Posted in Bankruptcy Trustee
Posted by Ted Michalos, BA, CPA - LIT

Bankruptcies and consumer proposals in Canada are debt restructuring options available under the Bankruptcy & Insolvency Act. Increasingly today consumers are choosing to file a consumer proposal and avoid declaring bankruptcy. In order to help consumers more easily recognize and identify individuals licensed to provide debt restructuring services (both bankruptcies and consumer proposals) under the […]

Who Do Licensed Insolvency Trustees Work For?

Ted Michalos student loan debt
Posted in Bankruptcy Trustee
Posted by Ted Michalos, BA, CPA - LIT

The market is currently flooded with debt advice businesses offering to help consumers with excessive debt.  The vast majority are unlicensed and unregulated 'debt consultants' not licensed insolvency trustees. Many simply charge a substantial fee and then simply refer debtors to a licensed insolvency trustee to deal with their debts. A bankruptcy trustee is now called […]

The True Cost of Debt With Meg Penstone

Podcasts
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

Payday lenders charge 500% interest, or more. On this episode of Debt Free in 30, Meg Penstone explains the cost and gives advice for recognizing the warning signs of debt.

The Cost Of Debt - Full Transcript - Show #74

J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

Meg Penstone, Manager of the financial health and literacy unit at Family Counselling & Support Services Guelph explains why it's so easy to get into debt and gives advice and tips to get out of it.

Debt Snowball Method vs High Interest First

J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Help
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

When it comes to getting out of debt many popular authors like Gail Vaz-Oxlade have developed effective systems and offered great suggestions that can help you get out of debt and, most importantly, help you avoid going back into debt. One of the more common get out of debt methods found throughout the internet is the “Debt Snowball” […]

You Are Not A Loan. You Are Not Alone.

Podcasts
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

Debt isn't always about the numbers. On this episode of Debt Free in 30, Melanie Lockert explains how to overcome the emotional side of debt & why we shouldn't internalize our feelings about it.

The Emotional Side Of Debt With Melanie Lockert - Full Transcript - Show #73

J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

On this episode of Debt Free in 30, Melanie Lockert explains why it's important to address the emotional side of debt and how a side hustle can increase your income to help you pay off debt.

Debt Settlement: Which Option Lets You Rebuild Your Credit Faster?

Ted Michalos student loan debt
Posted in Debt Help
Posted by Ted Michalos, BA, CPA - LIT

All forms of debt settlement appear on your credit report in the same way. They are listed as an R7 to show that you have entered into some form of settlement agreement for the debt. This agreement might be a debt settlement plan, a credit counselling plan or a consumer proposal. That means that initially, […]

Consumer Proposal or Bankruptcy: Decision Factors

Posted in Consumer Proposals

Both bankruptcy and a consumer proposal will eliminate debt, both provide protection from creditors and stop collection calls. However not everyone should file bankruptcy and a consumer proposal won't work in every situation either. Our infographic below explains some key differences between a proposal and personal bankruptcy and there are many factors to consider when deciding […]

Budgeting Your Money - Full Transcript - Show #72

J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, CIRP, CBV - LIT

On this episode of Debt Free in 30 host Doug Hoyes talks to Gail Vaz-Oxlade about budgeting & gives his opinion about why traditional budgeting can be a waste of time.