EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman

Linda Stern is a Senior Manager and Licensed Insolvency Trustee at Crowe Soberman Inc. With over twenty-five years of experience working in Canada, primarily in consumer insolvency matters consulting with individuals overwhelmed with debt, Linda helps people find solutions that work best for their financial and personal situations. In this episode, she joins the show to share her advice on what to do if you find yourself in debt, as well as how not to get overloaded with debt as you move forward in life.

Listen in as Linda explains the importance of patience within her profession and why it is essential to understand the advice you are receiving from your Insolvency Trustee. (If you are unsure, ask questions!) You will learn the current landscape of debt and bankruptcy in Canada, why creating a budget for your spending is important, and success tips for managing your finances.

“Providing information clearly and with patience is key.” – Linda Stern

This Week on Young Money:

• What a licensed insolvency trustee is.
• What Linda is seeing with respect to Canadians and debt levels.
• Whether there have been more people filing for bankruptcy as of late.
• What you need to know about working successfully with an insolvency trustee.
• Common missteps to avoid when it comes to debt.
• The importance of understanding your spending.

Key takeaways:

1. Be patient.
2. Ask questions.
3. Create a budget.
4. Understand your spending.
5. Seek professional advice.

Connect with Linda Stern:

• LinkedIn
• Website
• Twitter

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