590 – Will Your Investments Survive Serious Debt?

590 – Will Your Investments Survive Serious Debt?

Author: Doug Hoyes December 20, 2025 Duration: 29:52

If you're carrying serious debt but also have money in an RRSP, TFSA, or other investments, one of the biggest fears is this: Will I lose everything if I get help?

Doug Hoyes and Ted Michalos, Licensed Insolvency Trustees, break down what actually happens to your investments when debt becomes unmanageable. They explain which assets are protected under Canadian insolvency law, which are at risk, and when cashing out savings can do more long-term harm than good.

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Bankruptcy & Insolvency Act, paragraph 67 

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(00:00) Debt and investments: will savings survive serious debt?
(02:10) The fear of "losing everything" when seeking debt help
(04:20) Pressure to cash in investments before asking for help
(06:30) Using a TFSA to pay debt: when it makes sense
(09:10) RRSP withdrawals and the real tax consequences
(12:45) Why multiple RRSP withdrawals don't reduce total tax owed
(15:30) What happens to RRSPs and pensions in bankruptcy
(18:40) Which investments are not protected in insolvency
(21:30) Consumer proposals vs. bankruptcy: what you keep
(24:30) Can you still invest while repaying debt?

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


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

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