578 – Student Loan Struggles in Canada: Paying Debt Years Later
Release Date: 09/27/2025
596 – What To Do First When You’re Behind On Bills
Debt Free in 30
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 – (00:00) Falling behind...
info_outline
595 – Mortgage Renewal Shock: What Homeowners Need to Know for 2026 | Ron Butler
Debt Free in 30
Millions of Canadian mortgages taken out at ultra-low rates between 2020 and 2022 are now coming up for renewal – at much higher rates. That reality has led many to warn about a “mortgage renewal cliff” in 2026. Doug Hoyes is joined by Ron Butler (Butler Mortgage, Angry Mortgage Podcast) to unpack what’s behind the renewal headlines, why renewal is a cash-flow test (not a crystal ball) and how homeowners can think clearly about their options as low-rate mortgages reset. A clear look at who may feel pressure at renewal, and how borrowers can think through their options before renewal...
info_outline
594 – Why Even High-Income Earners Struggle with Debt
Debt Free in 30
More and more high-income Canadians are finding themselves under financial pressure. Doug Hoyes and Ted Michalos examine the shift they are seeing firsthand and challenge some common assumptions about who struggles with debt. They discuss how rising costs, borrowing capacity, and income complexity can quietly change financial outcomes, even for people who appear financially secure. Need Help with...
info_outline
593 – Never Thought About Financial Planning? Where to Start With Debt
Debt Free in 30
Financial planning doesn’t have to start with investing or retirement, and it doesn’t require everything to be “under control” first. This is a practical, non-judgmental conversation that explains what financial planning really means, how it differs from budgeting, and where to start when money is tight or debt is part of the picture. You’ll be able to understand cash flow, set priorities, and reduce stress by knowing what to tackle first – even during a consumer proposal or bankruptcy. Need Help with Debt? If debt is keeping you up at night, you don’t have to endure forever. ...
info_outline
592 – The Wealthy Barber on Debt Free in 30: Financial Issues Canadians are Struggling with Most
Debt Free in 30
David Chilton, author of The Wealthy Barber and one of Canada’s most influential voices on personal finance, joins Doug Hoyes on Debt Free in 30 for an extra special double–long episode. Doug and David dig into the issues Canadians are struggling with most: the true cost of inflation, a “K-shaped” economy, housing affordability, rising student debt, the growing gap between financial knowledge and financial discipline, and more. 00:00 – David Chilton on the updated Wealthy Barber book 02:27 – Why storytelling works for personal finance (and how he tested it) 06:52 –...
info_outline
591 – Why Debt Is Rising, but Bankruptcies Aren’t (Yet) — and 2026 Insolvency Predictions for Canadians
Debt Free in 30
Debt is at record highs, yet insolvencies are flat. Why? In this episode of Debt Free in 30, Licensed Insolvency Trustees Doug Hoyes and Ted Michalos explain a financial paradox that’s leaving millions of Canadians stressed, exhausted, and confused. The answer isn’t that people are okay. It’s that people are enduring. If you’re paying your bills but still feel like you’re drowning, this episode is for you. Coming Up Next Next episode: a special double episode with David Chilton (The Wealthy Barber) — a practical conversation about money, debt, and what Canadians are really facing...
info_outline
590 – Will Your Investments Survive Serious Debt?
Debt Free in 30
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. (00:00) Debt and investments: will savings survive serious debt? (02:10) The fear of “losing everything” when seeking...
info_outline
589 – Debt Collectors Busier Than Ever? - What They Are Really Looking For from You
Debt Free in 30
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. Search the Ontario government’s website to verify that a collection agency is licensed (00:00) Why debt collectors are busier than ever (02:00) What’s driving higher delinquencies in Canada (04:10) When creditors...
info_outline
588 – Are You Financially Fit Enough to Invest?
Debt Free in 30
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 readiness. Using simple math in layman’s terms (think “why paying 20% interest beats chasing a maybe 10% return”), we discuss what to do first, how to keep bills safe from market swings, and when it makes sense to get professional help. (00:00) Welcome Charlie Kovacs from Hoyes Michalos (02:00) Do Canadians need to take big risks to get ahead? Myth vs. Reality...
info_outline
587 – Should Parents Help Adult Children with Debt?
Debt Free in 30
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 realities behind “helping” adult children, including why many parents feel compelled to assist, and break down the real risks of co-signing, lending money, or tapping home equity to solve a child’s debt issues. (00:00) How costs, debt, and housing pressures shape young adults’ expectations (03:10) Why parents feel compelled to help financially (06:20) When helping becomes...
info_outlineStudent loans can follow Canadians for years after graduation, sometimes delaying life milestones like buying a home or starting a family. In this episode, Doug Hoyes and Ted Michalos explain why student debt is so difficult to repay in Canada, the risks of borrowing for education, and the Supreme Court’s latest ruling on the “7-year rule” for government student loans. If you’re still paying off your education years later, this conversation sheds light on the challenges and options for relief.
00:00 – Why student loans in Canada are a massive problem
04:00 – When can government student loans be included in insolvency?
05:00 – Why does it take so long to pay off student loans?
06:15 – The future of specific jobs—and risks of student debt
08:50 – The hidden risks of borrowing for education
11:35 – Interest on student loans: federal vs. provincial rules
12:30 – Practical tips to pay off student loans faster
13:30 – The hidden costs of prolonged repayment
16:00 – How a consumer proposal might help with student loan repayment
18:45 – The Supreme Court’s decision and the 7-year rule explained
25:00 – Planning for the future beyond student debt
Section 178(1)(g)(ii) of the Bankruptcy & Insolvency Act
Piekut v. Canada (National Revenue).
National Student Loan Service Centre (NSLSC)
Bank of Canada Inflation Calculator
University of Toronto Tuition Fees Info 2025
DIY Credit Repair Strategies and Free Course
Sign Up for the Monthly Debt Free Digest
Hoyes Michalos YouTube Channel
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.