Ep. 19 - What to do when you're in too much debt

Would you like a FREE one-on-one financial health checkup? Visit https://investwithvision.caWant to get on our mailing list to be notified of new episodes? Sign up on our website: https://retireinbc.ca/ Drowning in debt? You’re not alone—and you have more options than you think.In this episode of The Retire in BC Podcast, Ben and Arnold break down high‑interest debt—what to worry about, what not to worry about, and the real, practical paths out of it. From budgeting strategies and debt snowballs to consolidation, consumer proposals, and even bankruptcy, we walk through the full spectrum of options Canadians should understand before making a move.We also reframe the conversation: not all debt is bad. Mortgages, business loans, and education debt can build wealth—but high‑interest debt can quietly work against you fast. Most importantly, we remove the shame and focus on clarity, control, and forward momentum.In this episode, you’ll learn: - The difference between good debt and dangerous debt - How to list and prioritize your debts the smart way - Snowball vs. avalanche repayment strategies (and which fits you best) - When DIY consolidation makes sense—and when it doesn’t - How creditors, CRA, and consolidation companies may work with you - What consumer proposals and bankruptcy actually mean in Canada - Why doing nothing is often the worst option🔔 Subscribe so you don’t miss future episodes filled with practical advice, insights, and wisdom!Trademarks owned by Investment Planning Counsel Inc. and licensed to its subsidiary corporations. Investment Planning Counsel is a fully integrated wealth management company. Mutual funds available through IPC Investment Corporation and IPC Securities Corporation. Securities available through IPC Securities Corporation, a member of the Canadian Investor Protection Fund. Insurance products available through Visionvest Wealth Management Ltd. Hosted on Acast. See acast.com/privacy for more information.