Bankruptcies and consumer proposals in Canada are debt restructuring options available under the Bankruptcy & Insolvency Act. Increasingly today consumers are choosing to file a consumer proposal and avoid declaring bankruptcy. In order to help consumers more easily recognize and identify individuals licensed to provide debt restructuring services (both bankruptcies and consumer proposals) under the […]
Hoyes Michalos has pre-released our 2017 Joe Debtor study results as they relate to payday loan usage by insolvent debtors in time for the Standing Committee on Social Policy to conduct a review of Bill 59: Putting Consumers First Act. We have also submitted our concerns about the prevalent use of payday loans by heavily […]
Sean worked up to 80 hours a week for many years to save for a down payment, and then he managed to pay off his mortgage in less than four years. He held a mortgage burning party that was covered by the CBC, and that's where the fun began.
We don't just have a financial literacy problem in Canada, we have a debt literacy problem. Household debt in Canada continues to skyrocket, reaching a "gravity-defying" $2 trillion in December 2016. While it's true that we carry significant mortgage debt (it increased 5.9% last year), my biggest concern is that consumer debt increased roughly 3.4% from […]
Is it true that if you just ignore an old debt it will go away? Not exactly. There are a few misconceptions about the Ontario Limitations Act. Let's separate fact from fiction.
With Valentine’s Day approaching I thought it was a good opportunity to write about financial problems and how they affect relationships. Marriage might start out as cinnamon hearts and expressive hard candies but, when faced with pressures of every day life, will it survive or will it fail? Usually when we meet with individuals who […]
Today's guest David Trahair provides practical steps to move ahead financially and put yourself in the best possible position after experiencing job loss.
One of the many benefits of choosing Hoyes Michalos is that you're not only choosing one person to help you get out of debt, you're choosing a team. Our Licensed Insolvency Trustees have a variety of skill sets and each one of them brings something different to the table. We're able to pull from each […]
In today's show our expert panel of personal finance professionals will answer questions on four recent issues within the personal finance realm. Each expert brings something different to the table, which gives us a well rounded view at these issues from all angles.
Many people who come to Hoyes Michalos have debt that is just simply beyond repayment. They end up insolvent and file bankruptcy to absolve their debts and get a fresh start. There are many ways to tackle debt before it gets out of hand. If you are simply struggling with debt, there are options available […]
If you're like most Canadians, you dream of a long and enjoyable retirement. Is it possible to retire early and achieve that by the age of 48? While it is an anomaly, my guest today did just that.