143 – Debt Consultants: Avoid the Extra Cost

143 – Debt Consultants: Avoid the Extra Cost

Author: Doug Hoyes May 27, 2017 Duration: 37:28

For the first time ever, the federal government just issued a BOMBSHELL report, saying that it appears that two very large debt consulting firms in Canada are taking advantage of vulnerable consumers.  They charge large upfront fees, and often they only service they provide is to refer you to a Licensed Insolvency Trustee.

On today's show we discuss what the government reports says about unlicensed debt consultants, and we provide practical advice for consumers on how to avoid paying for a service that you don't need.


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
Podcast Episodes
594 – Why Even High-Income Earners Struggle with Debt [not-audio_url] [/not-audio_url]

Duration: 30:17
More and more high-income Canadians are finding themselves under financial pressure. Doug Hoyes and Ted Michalos examine the shift they are seeing firsthand and challenge some common assumptions about who struggles with…
590 – Will Your Investments Survive Serious Debt? [not-audio_url] [/not-audio_url]

Duration: 29:52
If you're carrying serious debt but also have money in an RRSP, TFSA, or other investments, one of the biggest fears is this: Will I lose everything if I get help? Doug Hoyes and Ted Michalos, Licensed Insolvency Trustee…
588 – Are You Financially Fit Enough to Invest? [not-audio_url] [/not-audio_url]

Duration: 32:17
Start investing because your numbers say "go," not because the internet says "now." This episode will remove the guesswork from entering the world of investing and provide a straightforward way for you to judge your read…
587 – Should Parents Help Adult Children with Debt? [not-audio_url] [/not-audio_url]

Duration: 30:00
With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical real…
586 - Should You Use Your Home Equity to Pay Off Debt in This Market? [not-audio_url] [/not-audio_url]

Duration: 34:52
Turn your home equity into a plan, not a panic button! This episode gives a clear, practical checklist for using a HELOC or second mortgage wisely: how they work, what they cost, when they help, and when alternatives (li…
585 – Small Business: Mixing Personal and Business Debt Pros & Cons [not-audio_url] [/not-audio_url]

Duration: 32:14
Many Ontario small business owners use personal credit to get a venture off the ground, because banks rarely lend to brand-new businesses. That convenience can help with early cash-flow gaps and sometimes costs less than…