Credit Card Debt: Make a Plan and Deal with Your Credit Card Debt

Hoyes.com Radio Show #5: Dealing with Your Credit Card Debt (Opens in a new window. Optimized for Windows Media Player 6.4 and later versions. )

To listen to the show live, tune in to AM 570 from noon to 1:00 pm or, if outside of Kitchener, visit www.570news.com.

Show Topic:

On today's show we discuss credit card debt. Credit cards are the easiest form of borrowing, and they can cause a lot of trouble. Today we discuss how to deal with your credit card debt.

Today's Guests:

Our guest on the show today is Ted Michalos, a licensed bankruptcy trustee at Hoyes, Michalos & Associates Inc.

Show Summary:

Ted will answer many questions about how to make a plan to deal with credit cards, including:

• What is a credit card?
• What's good about credit cards?
• What's bad about credit cards?
• What are some of the common "tricks" or "traps" that credit card companies employ to get us to use their credit card?
• How many credit cards are there in Canada today?
• How much debt do Canadians carry on their cards?
• Why are there so many credit cards out there, and why do the credit card companies keep issuing more of them?
• Will a a consumer proposal work to deal with credit cards debts?
• If I file bankruptcy, will that get rid of my credit card debt?

Rebecca and Douglas will also take your calls and answer your questions.

Helpful Resources:

• How many bankrupts have credit card debt?
• What happens to a supplementary credit card holder if I go bankrupt?
• Using a secured credit card to repair your credit, even after bankruptcy

For additional information and help in dealing with credit card debt, please contact one of our Ontario bankruptcy offices.