Episode 5 // Doubling Down On Daunting Debt

Championed by our friends at Community Futures Manitoba

Do you get a lump in your throat anytime people talk about debt? You’re not alone.

In this episode of The Gab Lab, NTN Pro, Pamela Meger, Senior Vice President, MNP Ltd., does a deep dive into debt (we see you cringing ); because the first step to managing debt is to confront it. Debt can feel like a never-ending black hole. But today, we learn taking action and ownership of your numbers will help you find the way out!

As Founders, optimism is entrenched in our DNA. It also tends to be embedded in our financial forecasts. We budget for things to go well, but forget to account for hidden expenses (i.e. interest charges) or prepare for inevitable down turns and dry spells. That’s why today, we uncover the costs and consequences of debt so you can plan to get yourself out of the hole and into a better financial position.

Give this episode a listen so you can take your first step toward getting rid of daunting debt!

Part 1 // Unleash Your Debt Load

Debt… that one responsibility you wish you could shake off, right?

The first step in getting it under control is to understand it. In this segment we go over the types of debt businesses accrue and take a dive into the costs of consequences to you and your business. Don’t let debt immobilize you or your operation.

Today's the day Pamela emboldens us to confront the dread we feel towards debt.

Part 2 // Simple Solutions to Deal With Debt

As Taunya likes to say, “Fear's rooted in uncertainty, and anxiety, in inaction.”

The best way to start managing debt is to move on it.

Encouragement to take the first small step is what Pamela offers up in segment. She reminds us, the sooner we reach out for help, the more options we have available to us.

We’re covering multiple solutions for dealing with debt, so that YOU can start to gain control of your finances and your future. We know it can be intimidating, so give this segment a listen to (no one need know) and take action on the options available to you to help lift the load.

Part 3 // Alternate Avenues to Explore

If your bottom line is heading in the wrong direction, it’s never too early to get steered right-side up. Because debt is such an overwhelming topic, Pamela urges Founders to reach out and talk to the professionals ASAP! The first call is often FREE! Different consolidation methods work for different businesses and levels of debt.

Listen to this segment to uncover what paths are available to you.

// Download the free tools and templates

About the Pro // Pamela Meger, CIRP, LIT

Senior Vice President, MNP Ltd.

SUPERPOWER // Navigating Daunting Debt

Pamela Meger is a Senior Vice President with MNP’s Insolvency and Corporate Restructuring group. Working out of the Regina office, Pamela delivers advice and solutions to individuals and organizations experiencing financial difficulties, helping them assess their options and achieve their goals. She travels to work with clients in Estevan, Weyburn, Moose Jaw, Yorkton and Swift Current.

Pamela’s services include consulting, restructuring, developing proposals and managing receiverships and bankruptcies and she is available for both private and court appointments. Her main focus is for individuals and organizations to learn about their options early — before some avenues are no longer available. Pamela helps clients with consumer proposals, consumer bankruptcy, corporate recovery and receiverships.

Remember, it's never to early to each out for help. Connect with Pamela directly at PAMELA.MEGER@MNP.CA or MNPDEBT.CA

About the Champ // Community Futures Manitoba

Community Futures Manitoba Inc. (CFM) is an association representing 16 Community Future organizations (CFs) established throughout rural and northern Manitoba. The Community Futures Manitoba Board of Directors is comprised of one representative from each of these organizations. Community Futures operates across rural and Northern Canada as a grassroots-driven program created to strengthen rural economies by enabling entrepreneurship and assisting in community economic development.

There are 16 Community Futures organizations (CFs) established throughout rural and northern Manitoba. The goal of each CF is to assist the communities in their region to develop their economic potential.

WEBSITE // www.cfmanitoba.ca

PHONE // 1.888.303.2232

EMAIL // info@cfmanitoba.ca

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