285 – Today's Bankrupt Debtor: 4 Key Debt Trends Explained

285 – Today's Bankrupt Debtor: 4 Key Debt Trends Explained

Author: Doug Hoyes February 15, 2020 Duration: 29:36

Once a year we crunch the numbers and release our annual Hoyes Michalos Joe Debtor Bankruptcy Study.  It's the only study that exists that looks at real numbers from actual people (it's a study, not a survey) so every year it generates a lot of media attention.  Today's podcast is the only interview Ted and I do together on Joe Debtor, and we explain the four key trends we identified this year:

Income are up (but not because our clients are getting big pay increases).

Expenses are also up, so there is less cash available to pay debt.

As a result the credit profile of our clients is deteriorating, leading to more payday loans and high interest instalment loans.

The student loan crises is leading to more younger people going bankrupt or filing a consumer proposal.

Full explanations and more on today's show.

Full details with all of the charts can be found here: https://www.hoyes.com/press/joe-debtor/


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
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