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
584 – Top Mistakes Debtors Make and How to Avoid Them [not-audio_url] [/not-audio_url]

Duration: 31:22
Drawing on experience from 25+ years and 73,000+ filings, Doug and Ted break down the top debt mistakes Canadians make, and how to avoid them. They explain how problems creep up, why waiting narrows your options, high-co…
583 – Job Loss: What to Do Financially in Your First 30 Days [not-audio_url] [/not-audio_url]

Duration: 30:52
Laid off or let go? Your first 30 days matter. This is a practical, Canada-specific guide to unemployment, covering everything from applying for EI to discussing when upskilling or a pivot makes sense, as well as the ris…
582 – How to Prioritize When Every Expense Feels Urgent [not-audio_url] [/not-audio_url]

Duration: 31:01
When money is tight, everything feels urgent. Rent, groceries, a credit card bill, and that unexpected car repair. In this episode, we walk through a survival-mode framework for prioritizing essentials, organizing a bare…
581 – Why the Best Financial Advice Sounds Boring – But Works [not-audio_url] [/not-audio_url]

Duration: 31:09
Ever feel like the best financial advice sounds... boring and hard to stick to? Doug Hoyes and guest Licensed Insolvency Trustee Maureen Parent discuss why the most effective money habits are often the least exciting. Fr…
580 – Can You Really Live Debt Free in Canada? [not-audio_url] [/not-audio_url]

Duration: 31:04
Can you live without debt in today's Canada? In this myth-busting episode, Doug and Ted explore the real cost of going debt-free. They unpack the difference between credit and debt, challenge the necessity of mortgages a…
579 – Budgeting Without Burnout: Finding the Right Tracking Method [not-audio_url] [/not-audio_url]

Duration: 32:13
Is tracking every single expense the key to taking control of your finances, or just a fast track to burnout? What are the pros and cons of meticulous money tracking? Doug Hoyes and guest Charlie Kovacs debate who benefi…
578 – Student Loan Struggles in Canada: Paying Debt Years Later [not-audio_url] [/not-audio_url]

Duration: 30:10
Student loans can follow Canadians for years after graduation, sometimes delaying life milestones like buying a home or starting a family. In this episode, Doug Hoyes and Ted Michalos explain why student debt is so diffi…
577 – How to Break Free from the Minimum Payment Trap [not-audio_url] [/not-audio_url]

Duration: 30:40
Making only the minimum payment on credit cards may feel manageable, but it's one of the riskiest financial habits for Canadians today. Doug Hoyes and Ted Michalos explain the real math behind minimum payments and share…