Debt Free In 30

As of August 31st, 778,000 Canadians with a mortgage at Canada’s big banks deferred or skipped a payment on their mortgage. The deferral periods for many mortgages and other credit loans and products have now come to an end. What does this mean for your debt? On today’s podcast, Ted Michalos and Doug Hoyes review different credit products (mortgages, credit cards, lines of credit, auto loans) and discuss what may happen to your balances and debt carrying costs now that the deferral periods are over. They also share practical advice for how to negotiate with your creditors and steps you can take if you don’t have the cash to start making your debt payments again. Tune in to this very timely and helpful episode!

Helpful Links:

Dealing with the Consequences of Loan Deferrals When the Deferral Period Ends: https://www.hoyes.com/blog/dealing-with-the-consequences-of-loan-deferrals-when-the-deferral-period-ends/

What To Do If You Can’t Pay Deferred Mortgage Payments: https://www.hoyes.com/blog/what-to-do-if-you-cant-pay-deferred-mortgage-payments/

CMHC Residential Mortgage Industry Report: https://assets.cmhc-schl.gc.ca/sites/cmhc/data-research/publications-reports/residential-mortgage-industry-report/2020/residential-mortgage-industry-report-2020-en.pdf

CBA Fast Facts on Bank Measures in Response to COVID-19: https://cba.ca/fast-facts-on-bank-measures-in-response-to-the-covid-19-pandemic

Scotiabank Auto Loan Payment Relief Terms: https://www.scotiabank.com/ca/en/personal/scotia-support/terms-and-conditions/auto-loan-spl-payment-relief.html


View full episode
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. This description is from Debt Free In 30.

What is debt free in 30? Doug Hoyes and Ted Michalos, licensed insolvency trustees, explain the Hoyes Michalos “Debt Free in 30?” approach to solving debt problems. Give us 30 minutes to review your situation and answer your questions, and we can help you make a plan to be debt free. Let’s get started.


Business podcasts Visit podcast A random podcast 🎲

Latest Posts

“It’s me again, Hank the Cowdog!” -- this opening statement has been the start of over 74 children’s books…

Read more

Brittany Luse, Eric EddingsIn the wake of recent protests, media organizations are facing criticism for the lack…

Read more

Featured

Your podcast here? →it's PodMust Plus

About

Well, the bad news is: we're French. But the good news is: we built a top podcast directory that you can now enjoy in english. And voilà!

Navigation