282 – Identifying and Avoiding Loan Scams

282 – Identifying and Avoiding Loan Scams

Author: Doug Hoyes January 25, 2020 Duration: 28:46

Ted Michalos returns to discuss loan scams, including advance fee loans, savings loans, and "pay off your consumer proposal" loans.  Listeners may quibble with our characterization of these loans as "scams", but we explain why we believe they should be avoided, and we give our suggestions on better alternatives for people who want to improve their credit and are tempted to get these types of loans.


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
604 – The Dangers of Installment Loans [not-audio_url] [/not-audio_url]

Duration: 30:46
Installment loans are often marketed as a safer alternative to payday loans because payments are predictable and structured. However, fixed payments do not always mean lower cost or less financial risk. Learn the warning…
603 – Prevent Tax Debt and Mistakes 2026 [not-audio_url] [/not-audio_url]

Duration: 19:57
Tax issues are not just about deductions. They come down to timing, habits, and the small decisions that add up over the year. This episode focuses on the practical systems that help you stay organized and avoid costly s…
601 – The Most Dangerous Financial Advice on the Internet [not-audio_url] [/not-audio_url]

Duration: 30:39
Financial advice is everywhere online. Some of it is mathematically correct, but that does not mean it is right for your situation. Popular tips can sound smart, but if money is already tight, those strategies can someti…
600 – Debt Misunderstandings Keeping Canadians Stressed [not-audio_url] [/not-audio_url]

Duration: 31:12
In this milestone episode, Doug Hoyes and Ted Michalos discuss the biggest myths about debt that refuse to die, the one behaviour that most reliably predicts insolvency, and explain what people who successfully recover f…
599 – What Happens When You Can't Afford to Stay in Your Home? [not-audio_url] [/not-audio_url]

Duration: 30:46
Owning a home is supposed to bring stability, but for many Canadian households, the numbers are getting harder to manage. Mortgage renewals at higher rates, unexpected repairs, and rising day-to-day costs can quietly shi…
596 – What To Do First When You're Behind On Bills [not-audio_url] [/not-audio_url]

Duration: 30:55
Behind on bills and not sure where to start? If money is tight and payments are stacking up, this episode gives you a clear starting point. Doug Hoyes and Licensed Insolvency Trustee Maureen Parent break down what to pri…