589 – Debt Collectors Busier Than Ever? - What They Are Really Looking For from You

589 – Debt Collectors Busier Than Ever? - What They Are Really Looking For from You

Author: Doug Hoyes December 13, 2025 Duration: 30:43

Debt collectors are contacting Canadians more than ever. In this episode, Doug Hoyes and Ted Michalos explain why activity is increasing, what collectors are actually looking for, and how to respond without accidentally restarting the clock on old debts. They also cover how to spot scams, understand your rights, and know when it's time to get professional help.

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(00:00) Why debt collectors are busier than ever
(02:00) What's driving higher delinquencies in Canada
(04:10) When creditors typically begin collection efforts
(06:00) What collectors want besides money
(08:00) How small payments or acknowledgments reset the 2-year clock
(10:00) Why collectors ask for employer and contact information
(12:00) Should you answer if you can't pay?
(14:00) How to verify a real collector vs. a scam
(17:00) Your rights when dealing with collection calls
(19:00) When it's time to speak with a Licensed Insolvency Trustee


Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.


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: 100

Debt Free in 30
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