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 […]
Doug Hoyes & Ted Michalos discuss a common fear about who will be notified when you file a bankruptcy or consumer proposal and why it doesn't matter.
Household debt is rising rapidly in Canada. While much of the blame can be attributed to the attractiveness of super low interest rates, mortgage debt and rising house prices, individually you may have more debt because of the way you borrow and make payments. People frequently do not know the full terms and conditions of […]
On Debt Free in 30, we talk with Ben Rabidoux about how the next changes in mortgage lending rules will affect the cost of your mortgage, refinancing and the housing market.
5 Debt No-Go’s in your senior years Carrying debt into retirement is risky. An early retirement due to illness or job loss can derail your repayment plans. Making debt payments on a fixed income is difficult. Here are 5 types of debt you should never carry into retirement: Credit card debt Car loans Payday loans […]
Does financial literacy belong in high schools? On today's podcast we ask this question of Prakash Amarasooriya, who, along with the Toronto Youth Cabinet, presented a petition for the inclusion of new material into the Ontario high school curriculum.
As you enter your 30’s and 40’s, your likely entering a period of many milestones: marriage, family, a new home, perhaps a career change. If you had good financial habits during your 20’s you will have paid down most of your student debt, avoided high credit card balances, built a small emergency fund and set […]
Air Miles has changed their loyalty program, which brought up a question from our listeners: What happens to my Air Miles, loyalty points and cash-back program if I file bankruptcy?
Starting out on your own is exciting, but it comes with the responsibility to make decisions. Making good financial choices from a young age will have an impact on your financial health for years. Lesson Plan Save more money Separate needs from wants. Pay off student loans asap Start an emergency fund. Use credit wisely. […]
One possible solution to poverty reduction, and possibly high consumer debt levels, is the concept of basic income. Doug Hoyes talks with David McDonald, senior economist with the Canadian Centre for Policy Alternatives to help us better understand the costs and consequences of a guaranteed income program,
Transcript: Debt. Most people don’t realize how big debt can become even when they think they’re being responsible. Debt usually starts small, with a few reasonable expenses put on credit – but it can grow quickly from there. If you’re a recent high school graduate, you probably just got a credit card. If you’re heading […]