596 – What To Do First When You're Behind On Bills

596 – What To Do First When You're Behind On Bills

Author: Doug Hoyes January 31, 2026 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 prioritize first, what can safely wait, how to handle creditor calls, and when it makes sense to look at a more permanent fix.

A practical, no-panic roadmap for protecting the basics, stabilizing cash flow, and making informed next steps when the math isn't working.

If debt is keeping you up at night, you don't have to endure forever – Start Here

Free Hoyes Michalos Budgeting Workbook

Debt Relief Repayment Calculator

Subscribe to the Debt Free Digest – A free monthly e-newsletter

Learn more about Canadian debt relief on the Hoyes Michalos YouTube channel!

(00:00) Falling behind doesn't mean you failed
(03:10) The first 48 hours: what to pay first
(07:00) Rent, mortgage, and car payments: how to prioritize
(11:00) Utilities, phone, and internet: hardship options
(14:30) Credit cards and lines of credit: what can wait
(17:45) Payday loans and why they make things worse
(20:30) Taxes and CRA debt: what actually helps
(23:00) Calling creditors: what to say and what to track
(25:30) Building a 30-day survival budget
(28:00) When to consider a formal solution


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: 50

Debt Free in 30
Podcast Episodes
588 – Are You Financially Fit Enough to Invest? [not-audio_url] [/not-audio_url]

Duration: 32:17
Start investing because your numbers say "go," not because the internet says "now." This episode will remove the guesswork from entering the world of investing and provide a straightforward way for you to judge your read…
587 – Should Parents Help Adult Children with Debt? [not-audio_url] [/not-audio_url]

Duration: 30:00
With housing costs, student loans, and everyday expenses skyrocketing, more young adults are turning to their parents for financial support. Doug Hoyes and Ted Michalos unpack the emotional, financial, and practical real…
586 - Should You Use Your Home Equity to Pay Off Debt in This Market? [not-audio_url] [/not-audio_url]

Duration: 34:52
Turn your home equity into a plan, not a panic button! This episode gives a clear, practical checklist for using a HELOC or second mortgage wisely: how they work, what they cost, when they help, and when alternatives (li…
585 – Small Business: Mixing Personal and Business Debt Pros & Cons [not-audio_url] [/not-audio_url]

Duration: 32:14
Many Ontario small business owners use personal credit to get a venture off the ground, because banks rarely lend to brand-new businesses. That convenience can help with early cash-flow gaps and sometimes costs less than…
584 – Top Mistakes Debtors Make and How to Avoid Them [not-audio_url] [/not-audio_url]

Duration: 31:22
Drawing on experience from 25+ years and 73,000+ filings, Doug and Ted break down the top debt mistakes Canadians make, and how to avoid them. They explain how problems creep up, why waiting narrows your options, high-co…
583 – Job Loss: What to Do Financially in Your First 30 Days [not-audio_url] [/not-audio_url]

Duration: 30:52
Laid off or let go? Your first 30 days matter. This is a practical, Canada-specific guide to unemployment, covering everything from applying for EI to discussing when upskilling or a pivot makes sense, as well as the ris…
582 – How to Prioritize When Every Expense Feels Urgent [not-audio_url] [/not-audio_url]

Duration: 31:01
When money is tight, everything feels urgent. Rent, groceries, a credit card bill, and that unexpected car repair. In this episode, we walk through a survival-mode framework for prioritizing essentials, organizing a bare…
581 – Why the Best Financial Advice Sounds Boring – But Works [not-audio_url] [/not-audio_url]

Duration: 31:09
Ever feel like the best financial advice sounds... boring and hard to stick to? Doug Hoyes and guest Licensed Insolvency Trustee Maureen Parent discuss why the most effective money habits are often the least exciting. Fr…