Debt Relief Experts
Scammers May Mention Personal Information to Look Legit
Fake debt collectors often mention personal information they have learned about you to make them appear legitimate. We explore how scammers may know you and what to do if you receive a call.
Ontario Bankruptcy Blog
Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our blog includes podcasts, videos, articles, case studies and Industry Insights about consumer proposals and bankruptcy in Ontario as well as personal finance, credit rebuilding and other money management tips for anyone looking to get out of, or stay out of, debt.
My Child Has a Lot of Debt. How Can I Help?
When your adult child is struggling, you still want to help. However when it comes to money, you need to think carefully about what it may cost you to loan them money or co-sign a loan.
Should I Use My RRSP to Pay Off Debt?
We often hear from clients who cashed in their RRSP to keep up with debt payments. The problem is, that doesn't always help. We explore 3 reasons not to use money from your RRSP to pay down debt.
Why is Walmart Really Fighting Visa?
Walmart expressed their opinion that Visa was charging too much for their interchange fees in 2016 and wanted to remove the platform from their stores completely. Find out the real reason Walmart did this.
Why the Ontario Government Didn’t Come Down Hard Enough on the Payday Loan Industry
Payday loans are a large part of severe debt problems in Canada, and the Ontario government is not addressing the issue adequately. Learn about payday loan costs and what we believe will help mitigate this industry.
Should You Get A Wedding Loan?
After you pop the big question, the next big question might be how are you going to pay for the wedding? Dress? Honeymoon? We explore wedding loans vs credit cards, pre-martial debts and affordability.
When Is Overdraft Protection A Bad Idea?
Overdraft protection is when you have access to funds that aren’t in your actual bank account, thus avoiding bounced payments. Find out how this form of loan can get costly and what alternatives you may have.
When A Debt Management Plan Doesn’t Work
Credit counsellors use a program called a debt management plan which are not always successful. We explore a case study from one of our clients in this situation and offer some alternative solutions.
Student Debt: Facts, Lessons & Solutions
Post-secondary tuition in Ontario is on average the highest among all the provinces in Canada. Find out more about student debtors and what solutions are available if you are struggling with student debt.
30 Practical Tips To Avoid Debt
Are you struggling to stay on top of debt? Or curious about ways you can avoid overwhelming debt in the future? Doug Hoyes provides 30 practical tips you need to become and stay debt free.
Why Delaying Your Bankruptcy Can Cost You More
Are you delaying bankruptcy because you’re scared of what it entails or what it may change in your life? Find out what can happen if you continue to delay the process and why you don’t need to be afraid.
Skirting the Essence of Ontario’s Debt Settlement Laws
The key purpose of Ontario’s debt settlement laws is to diminish consumer abuse by debt settlement companies. We explore how these agencies have changed their tactics but not for your benefit.
Renting Vs Buying: Which One Makes More Sense?
One of the most popular conversations we explore at Hoyes Michalos is if you should rent or buy a home. In this blog we compare renting versus buying from the perspective of a debt expert.
Bankruptcy vs Insolvency. What’s the Difference and Does it Matter?
Being in debt does not mean you need, or are eligible to file bankruptcy. We look at what it means to be insolvent, a requirement to declare bankruptcy in Canada.
What Happens To Debt When House Prices Fall?
Are you deciding if it’s a good time to enter the real estate market? Real estate expert, Ben Rabidoux, explores Canada's current housing market, household debt and things to consider before buying.