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591 – Why Debt Is Rising, but Bankruptcies Aren’t (Yet) — and 2026 Insolvency Predictions for Canadians

Release Date: 12/27/2025

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...

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...

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. ...

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 –...

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...

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...

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...

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...

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...

586 - Should You Use Your Home Equity to Pay Off Debt in This Market?

Debt Free in 30

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 (like a consumer proposal) will protect your cash flow and your home better. Listen first, then decide with the numbers. (00:00) Toronto condo stress and Welcome to Scott Terrio (05:00) What a HELOC is and how it works (07:30) Second mortgages: key risks (09:00) Home “value” is changing in this market (11:00) HELOC pitfalls and personal risk (15:30) Why many homeowners resist...

More Episodes

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 heading into 2026.

2025 Predictions Show

Office of the Superintendent of Bankruptcy, Insolvency Statistics

Statistics Canada, Household debt levels (including credit cards)

Statistics Canada, CPI (Inflation)

Mortgage Rates, Bank of Canada

Hoyes Michalos Homeowners Bankruptcy Index

TransUnion, Canadian Consumer Debt Continues to Grow Despite Macroeconomic Relief

Hoyes Michalos Credit Repair Strategies and Rebuilding Course

Sign Up for the Monthly Debt Free Digest

Hoyes Michalos YouTube Channel

Learn About Debt Relief Options in Ontario

In This Episode, You’ll Learn:

· Why people don’t file when debt rises — they file when cash flow breaks

· How inflation pushed credit card balances higher without immediate defaults

· Why paying the minimum isn’t a solution — it’s a delay

· How balance transfers and mortgage equity are masking financial stress

· Why insolvencies tend to stay flat, then jump

· What would trigger a surge in personal insolvencies

· Our 2026 insolvency predictions for Ontario

· Why relief isn’t failure — and how getting advice early preserves options

(00:00) You’re Not Failing — You’re Enduring
(02:30) Debt Is Exploding, So Why Aren’t Bankruptcies Rising?
(05:20) People Don’t File When Debt Rises — They File When Cash Flow Breaks
(08:10) Why Credit Card Debt Is Rising Without Defaults
(11:00) Paying the Minimum Is Buying Time — Not Solving the Problem
(14:00) Who’s Carrying the Debt Now (And Why That Matters)
(17:10) Why Inflation Changed How Insolvencies Work
(20:20) The Hidden Delay: Interest Rates Haven’t Fully Hit Yet
(23:40) Mortgage Equity Is Masking Financial Stress
(27:00) Why Insolvencies Don’t Rise Gradually — They Snap
(30:00) Why Convexity Shows Up Later
(32:40) The Paperclip Effect: Endurance vs. Breaking
(34:10) What Would Trigger a Surge in Insolvencies?
(35:30) Our 2026 Insolvency Predictions
(38:00) Relief Isn’t Failure — It’s a Reset

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.

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