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
184 – Debt: Why is No-One Listening? [not-audio_url] [/not-audio_url]

Duration: 40:59
Household debt to income levels in Canada continue to rise. We now owe $1.71 for every dollar earned. But, with no shortage of experts discussing the risks of high debt and how to repay it, why is it that we continue to…
183 – A Balanced Look at the Real Estate Market [not-audio_url] [/not-audio_url]

Duration: 35:12
Talking real estate isn't a first for the Debt Free in 30 podcast. We've had many experts like Hilliard Macbeth, Ben Rabidoux, and Alex Avery provide their insight on whether renting is better than buying and vice versa.…
182 – Why Payday Loans Won't Go Away [not-audio_url] [/not-audio_url]

Duration: 30:00
In early February, we released updated research that shows 3 in 10 Ontario insolvencies involve payday loans. Payday loans have been a fairly popular discussion in 2018, as the Government of Ontario changed laws lowering…
181 – The Rule of 72 [not-audio_url] [/not-audio_url]

Duration: 8:34
On more than one occasion, we've said that compound interest is great for savings, but terrible for debt. On today's show, Ted Michalos shares a simple math trick to help you easily calculate the impact interest has on t…
180 – How to Use Loyalty Programs to Balance Your Budget [not-audio_url] [/not-audio_url]

Duration: 25:19
With the launch of the new PC Optimum program, we're taking the opportunity to examine just how Canadians can make the most of loyalty cards and points programs. While there are advantages to in-store reward programs, if…
179 – Talking Debt with Scott Terrio [not-audio_url] [/not-audio_url]

Duration: 32:47
Trying to make debt an everyday topic is difficult. What's more, most people who are in my line of work have an accounting background. As such, there's a tendency to be more numbers-focused than say, story-telling, for e…
178 – How to Pay Down Massive Debt [not-audio_url] [/not-audio_url]

Duration: 16:13
You hear the stories about the person who paid off $100,000 in debt in just 3 years; sounds great, but how did they do it, and is that realistic for the average person? The short answer is no, if you earn $25,000 per yea…
177 – Minimum Payments on Credit Cards are Keeping You in Debt [not-audio_url] [/not-audio_url]

Duration: 12:09
If you think your finances are under control because you're keeping up with minimum monthly payments on credit card debt, think again. To become debt free, you need to pay down more of your balances. How do minimum payme…
176 – The Wealthy Renter with Alex Avery [not-audio_url] [/not-audio_url]

Duration: 40:30
We hear the same thing repeatedly. If you rent, you're throwing away your money. Why? Because you have nothing to show for it at the end of the month. On the other hand, if you own your home, you're paying down your mort…
175 – Which Debts Should You Pay First? [not-audio_url] [/not-audio_url]

Duration: 17:42
Because it's not the level of debt that causes the problem necessarily. It's whether or not you can service it. On show #174, we gave the example of someone with a $500,000 mortgage and 25-year amortization. If the inter…