197 – Reviving a Consumer Proposal

197 – Reviving a Consumer Proposal

Author: Doug Hoyes June 9, 2018 Duration: 25:00

Repaying debt requires a stable income. Even when you're in a debt relief plan like a consumer proposal, you need money coming in each month to make your payments. But what if you are faced with a sudden job loss and can no longer keep up with payments on your consumer proposal? Could you revive it after you find another job? What if you don't find work until after several months, could you restart your proposal then?

My guest today says it is possible to revive a consumer proposal. Richard Howell is a bankruptcy lawyer, certified by the Law Society of Upper Canada. He has over 20 years of experience helping people resolve this exact issue, and has yet to face a situation where a proposal could not be restarted.


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
395 –  Back to Work in the Office – What's the Cost? [not-audio_url] [/not-audio_url]

Duration: 33:09
After two years of working from home, many people are being called back to work in the office. But since 2020, costs, like gas, have soared. How much more expensive is it going to be to go back to the office? Is it a goo…
392 –  What Issues Do Women in Debt Face? [Panel Discussion] [not-audio_url] [/not-audio_url]

Duration: 37:48
Our latest bankruptcy study revealed that the average female debtor's unsecured debt increased 6.5%, while her male counterpart only had a 0.7% increase in his unsecured debt load in 2021. Why is this? What are specific…
389 –  Getting Paid Earlier Might Not Help Your Budget [not-audio_url] [/not-audio_url]

Duration: 25:03
We know how hard it can be to live paycheque to paycheque or not have money available when a bill payment is due. Fintech is also recognizing this issue and developers have now created what's called 'early wage access' o…
388 –  The Biggest Trick Lenders Use: Weekly and Bi-Weekly Payments [not-audio_url] [/not-audio_url]

Duration: 31:20
Lenders sometimes 'trick' us by posting only the weekly cost of borrowing a loan (which is a much smaller number) than the monthly cost in their ads. Or they offer you an 8-year term on a car loan, which stretches the co…
387 –  How To Deal With Higher Interest Rates [not-audio_url] [/not-audio_url]

Duration: 29:57
Although the Bank of Canada held interest rates steady in their January 26, 2022 announcement, rates are expected to increase in 2022. When that happens, will you be financially ready for higher borrowing costs? Could yo…
386 –  Ontario Debt Experts Discuss What's Happening Right Now [not-audio_url] [/not-audio_url]

Duration: 39:56
For the first time ever on Debt Free in 30, we've gathered some of our Licensed Insolvency Trustees from across Ontario to share what they're seeing on the ground. How has the pandemic impacted indebted individuals? Has…