Have you ever wondered what life would look like if your credit score didn’t exist? Licensed Insolvency Trustees Doug Hoyes and Ted Michalos compare Canada’s score-driven system with France’s radically different, no-score approach.

You’ll learn:

• How France decides who can borrow—without a three-digit score.
• The cultural attitudes that shape lending and spending in France and Canada
• Why credit-report errors and identity theft are bigger issues than most Canadians realize.
• Whether Canada could (or should) adopt parts of France’s model—and what you can do right now to work the system in your favour.
  
  

(00:00) Intro – How Canada Tracks Credit with TransUnion & Equifax

(04:45) France’s “No-Score” System: How Trustworthiness Is Judged

(07:10) Lending Culture in France: Relationships Over Ratings

(09:00) Lending Culture in Canada: Why Scores Still Rule

(13:00) Could Canada Move Toward a French-Style Model?

(15:50) Credit-Report Errors: The Hidden Cost of Scores

(19:00) Building Rapport with Lenders: Help or Hindrance?

(20:30) Identity Theft Risks: Centralized Data vs. Decentralized Files

(22:00) Which System Carries Less Bias—France or Canada?

(26:30) Is Canada’s Credit Reporting Actually Working?

(28:00) Takeaways: How to Navigate Canada’s System to Your Advantage

The Big Credit Score Scam

Solutions for Maxed-Out Credit Cards

Hoyes Michalos FREE Credit Rebuilding Course and Learning Resources

Sign Up For The Monthly Debt Free Digest

The Best Canadian Personal Finance and Debt Management TikToks

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.

Zombie memberships are real – and they’re feasting on your budget every month.

Forgotten fitness app? Digital subscription you thought was cancelled? Auto-renewals can quietly drain your finances if you're not paying attention.

Doug Hoyes and Ted Michalos discuss why some subscriptions are so easy to miss, and how to track, cancel, and avoid them going forward. This episode includes real examples, expert tips, and even a personal story from the Hoyes Michalos team, proving it can happen to anyone.

(00:00) Are You Paying for Subscriptions You Forgot About?

(03:00) Fitness Classes, Digital Apps & Other Zombie Memberships

(07:00) Why Auto-Renewal Is a Red Flag

(12:00) How to Identify What’s Draining Your Cash

(16:00) Our Own Zombie Membership Story

(17:30) Why Cancelling Is So Hard

(19:30) Track It and Cancel It Fast

(21:00) Use the “One In, One Out” Rule

(24:00) Try Before You Buy: Avoid Entering Credit Card Info

(27:00) You Don’t Have to Give Up What Works for You


Hoyes Michalos FREE Credit Rebuilding Course and Learning Resources

Balancing Needs Vs Wants When Budgeting

What To Do About Credit Card Debt In Collections

Sign Up For The Monthly Debt Free Digest

Get A Personalized Debt Plan

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.

What legal actions can creditors take if you stop paying your debts? From collection calls to lawsuits and wage garnishments, Licensed Insolvency Trustees explain the real timeline of creditor actions—including how the CRA (Canada Revenue Agency) collects without going to court, and how to avoid scams when seeking help.

✅ Know your rights
✅ Understand the legal process
✅ Learn when (and how) to take action with confidence

00:00 – Can You Go to Jail for Not Paying Debt in Canada?
03:00 – When Do Creditors Start Calling After Missed Payments?
06:45 – When Can Creditors Start Legal Action Against You?
09:40 – Understanding the Statute of Limitations on Debt in Canada
12:20 – Debt Collections vs. Debt Buyers: Why Debts Are Sold
16:00 – How to Know If You're Actually Being Sued
17:00 – Superior Court vs. Small Claims Court: What If You Ignore It?
20:00 – CRA Collection Powers: Wage Garnishment Without Court
24:00 – Court-Ordered Support Payments (e.g., Child or Spousal Support)
26:00 – Practical Tips for Dealing with Debt Collectors
27:30 – What to Do If You're Facing a Wage Garnishment
29:00 – Avoiding Debt Relief Scams: Why You Need a Licensed Insolvency Trustee

How To Find Legitimate Debt Help in Canada

Legal Actions Creditors Can Take When You Don’t Pay

Hoyes Michalos YouTube: Will a Debt Collector Sue Me?

Sign Up For The Debt Free Digest (A monthly financial-motivation newsletter to your inbox!)

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.