421 episodes

Each week Doug Hoyes talks to industry experts about debt, money, and personal finance. Don't be confused; listen as the guest experts cut through the jargon and share practical advice.

Debt Free in 30 Doug Hoyes

    • Business
    • 4.6 • 134 Ratings

Each week Doug Hoyes talks to industry experts about debt, money, and personal finance. Don't be confused; listen as the guest experts cut through the jargon and share practical advice.

    Mortgage Challenges After Record Rate Hikes + Advice with Ron Butler

    Mortgage Challenges After Record Rate Hikes + Advice with Ron Butler

    Interest rates are at 18-year highs in Canada and if you got a mortgage in the last few years, you’re probably dealing with higher mortgage payments today. If rates keep rising, what potential challenges will come up for mortgage holders? What happens when you hit a trigger rate? What do costly mortgages mean for renters? On today’s podcast, mortgage expert extraordinaire Ron Butler returns to discuss the impact five straight interest rate hikes have had on mortgages and whether now is a good time to buy. Ron also shares a special announcement at the end of the podcast – be sure to tune in for some great insights and practical advice.
    Links:
    Ron Butler on Twitter: https://twitter.com/ronmortgageguy
    High Interest Rates and Debt: What Can You Do/ https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/
    Average Toronto House Prices: https://wowa.ca/toronto-housing-market
    Butler Mortgage (Mortgage Rates): https://www.butlermortgage.ca/mortgage-calculator/
    Show 293: Debt, HELOCs, and The New World of Mortgage Lending with Ron Butler https://www.youtube.com/watch?v=VDSd6z5EJzA
    Show 334: Mortgages & Home Equity Refinancing: What Are The Risks in 2021? https://www.youtube.com/watch?v=-CSt5J7CIQ0
    Show 376: Should You Help Your Child Get a Mortgage? with Ron Butler https://www.youtube.com/watch?v=INc3t7ikv-w
    Show 403: What’s Happening Now that Mortgage Rates Are Up? https://www.youtube.com/watch?v=Iw-HtqgOgJM

    • 41 min
    Rising Rates, Callable Debts, Tighter Credit & What They Mean For You

    Rising Rates, Callable Debts, Tighter Credit & What They Mean For You

    We’ve now had our fifth interest rate hike in 2022 alone. Mortgages are costing more to service. And so are callable debts – which are debts that can have their repayment terms changed whenever at the lender’s discretion. On today’s podcast guest Scott Terrio returns to discuss how rising rates are putting more homeowners at risk of serious debt issues and even insolvency, especially as credit tightens. Scott also explains what callable debts are, how they work, and the dangers of carrying high balances on them when rates are rising. Scott and Doug also share lots of practical advice to help you spot when your own finances may be at risk. Tune in for a great discussion!
     
    Related Links:
     
    Rising Interest Rates and Debt – What Can You Do? https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/
    Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/
    Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/

    • 33 min
    The Government Wants to Fight Predatory Lending. What Could Go Wrong?

    The Government Wants to Fight Predatory Lending. What Could Go Wrong?

    The Criminal Code of Canada says that it’s a criminal offence to charge an interest rate of more than 60%. The federal government is considering lowering that rate. Is this a good idea? What could go wrong? On today’s podcast, Ted Michalos returns to discuss whether this plan by the Government of Canada will make any meaningful difference, and what the unintended consequences of the proposal may be. Doug and Ted also share their four recommendations to the Government to better protect consumers when it comes to usury laws. Please note that the government will be accepting your comments until October 7, 2022, so tune in to this podcast to understand the issue and then send them an email with your thoughts at consultationconsumeraffairs.consultationconsommation@fin.gc.ca with ‘Predatory Lending Consultation’ as the subject line.
    Resources Mentioned in the Show:
    Department of Finance Canada Issues Consultation Paper on Criminal Rate of Interest: https://www.mccarthy.ca/en/insights/blogs/techlex/department-finance-canada-issues-consultation-paper-criminal-rate-interest
    Garland vs. Consumers’ Gas Company: https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/2138/index.do
    Criminal Code, section 347, criminal interest rate: https://qweri.lexum.com/w/calegis/rsc-1985-c-c-46-en#!fragment/sec347/BQCwhgziBcwMYgK4DsDWszIQewE4BUBTADwBdoJC4BmAFgHYBKAGmW1MIgEVFDcBPaAHIhzSmFwIefQSLGEJCAMp5SAIUEAlAKIAZbQDUAggDkAwtuakwAI2ilscRoyA
    Bank of Canada posted interest rates, chartered banks: https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/
    Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/

    • 34 min
    Season Premiere: Navigating This Crazy Economy

    Season Premiere: Navigating This Crazy Economy

    It’s Season #9 of Debt Free in 30! Life is changing fast – there’s no question about it. How can you navigate this crazy economy? How do you deal with an ever-limited budget? Doug Hoyes returns in this short season premiere rant to share what you can expect from our show this season and helpful resources to get you through these tough times. Tune in.
     
    Resources Mentioned in the Show:
    How One Man Retired Debt-Free at Age 48: https://www.hoyes.com/blog/how-one-man-retired-debt-free-at-48/
    Debt Free in 30 Newsletter Archive & Sign Up: https://www.hoyes.com/newsletter-archive/
    Insolvency Updates Newsletter Sign Up: https://lp.constantcontactpages.com/su/wAp31r4/insolvencyupdates
    How to Rebuild Credit course: https://courses.hoyes.com/

    • 12 min
    REBROADCAST - Protect Yourself from Job Loss with These 3 Truths

    REBROADCAST - Protect Yourself from Job Loss with These 3 Truths

    It’s our final rebroadcast episode of the summer, and today we rebroadcast episode 400 of the Debt Free in 30 podcast and Doug Hoyes shares his wisdom on how to protect yourself against job loss. If the pandemic has taught us anything it’s that no job is secure. So, what can you do to avoid getting financially burned if you’re out of work? If you’re unhappy with your job, should you switch? What’s the smartest way to go about making a change? On today’s podcast Doug discusses three basic work truths and lots of practical advice you should understand to help you navigate the employment world.
    Links:
    Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/
    Follow Doug Hoyes on Twitter: https://twitter.com/doughoyes

    • 23 min
    REBROADCAST - When is CRA Going to Ramp Up Tax Debt Collections? [Panel Discussion]

    REBROADCAST - When is CRA Going to Ramp Up Tax Debt Collections? [Panel Discussion]

    When the pandemic first started, the Canada Revenue Agency slowed their collection efforts on income tax debt owing. But with the economy reopened, we are starting to see notices filed by the CRA to individuals owing on income tax, including CERB and CRB debts. Is this a sign that the CRA is ramping up efforts again? What are your options if your employer is served with a Requirement to Pay notice from the government? What if you get a notice that you were overpaid for CERB/CRB or ineligible? Tune in to this panel discussion with Ian Martin, CPA, LIT and Scott Schaefer, CPA, LIT (our in-house tax experts) and host Doug Hoyes for lots of practical advice!
     
    Additional Resources:
     
    CRA Collection Letters for CERB Ineligibility or Overpayment. Can You File Bankruptcy? https://www.hoyes.com/blog/cra-collection-letters-for-cerb-ineligibility-repayment/
    What To Do If You Owe Back Taxes to CRA: https://www.hoyes.com/blog/what-to-do-if-you-owe-back-taxes-to-cra/
    Should I Borrow to Pay Taxes to CRA? https://www.hoyes.com/blog/should-i-borrow-to-pay-taxes-to-cra/

    • 35 min

Customer Reviews

4.6 out of 5
134 Ratings

134 Ratings

REIexpert101 ,

Awesome Podcast!

Doug’s podcast is packed with knowledge and the expert guests he brings on his show makes this a must listen! 10/10

Lifelikenoother ,

Great podcast

Although I don't have any debt myself, this podcast is full of great resources and useful information. Especially enjoyed the episode with Robin Taub back in the spring.

user783d ,

Great Episode

Do more of these guys. Well done, informative. Like to hear facts from people that are actually out there on the ground.

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