4 Stages of A Consumer Proposal


Posted in Consumer Proposals

If you are wondering how a consumer proposal works, our infographic makes the process easy to understand by looking at the 4 stages of a proposal:

Stage 1: Assessment & Payment Plan
Stage 2: Filing & Voting
Stage 3: Making Payments
Stage 4: Completion & Credit Repair

Nov 13, 2014

CHYM Father Daughter Ball 2015


Posted in In The News

Hoyes, Michalos & Associates is excited to sponsor the upcoming 6th Annual CHYM Father Daughter Ball on Thursday April 16, 2015.  I have been fortunate to attend the previous five Father Daughter Balls with my daughters.  This year will be extra special as Alexis and Katelyn will joint me as Honorary Co-Chairs for the evening. […]

Mar 2, 2015

Who Does What In A Bankruptcy and Consumer Proposal?


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Today I sat down with Scott Schaefer, Chartered Accountant, Consumer Proposal Administrator, and Trustee in Bankruptcy at Hoyes, Michalos and Associates to discuss the roles of specific parties during a bankruptcy and consumer proposal. Scott explains the meaning of a debtor, creditor, and trustee, and breaks down the filing process, step by step.

Feb 28, 2015

Show 26 - Full Transcript - FAQ Show Bankruptcy and Proposal Process


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Listen to the podcast: Who Does What In A Bankruptcy and Consumer Proposal? Doug H:            Welcome to Debt Free in 30, the show where every week, we talk to industry experts about debt, money, and personal finance. I’m Doug Hoyes. Today it’s time for yet another Frequently Asked Questions show. This will be show number […]

Feb 28, 2015

How Do I Know if I Have Too Much Debt


Howard Hayes, Licensed Bankruptcy Trustee Cambridge and Brantford Ontario
Posted in Debt Help
Posted by Howard Hayes, Btec, CIRP - TRUSTEE

There’s no magic number that defines how much debt is “too much debt”.  It’s your ability to repay your debt that matters; regardless of the size of that debt. From a lenders perspective, they often consider you to have too much debt if your monthly payments, including lines of credit, car payments, mortgage payments and property taxes,  exceeding […]

Feb 26, 2015

Show 25 - Full Transcript - Crushing Debt with David Trahair


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Transcript from the podcast: Crushing Debt: Why Canadians Should Drop Everything and Pay Off Debt Doug:              Welcome to "Debt Free in 30" the show where every week we take 30 minutes and talk to industry experts about debt, money, and personal finance. I'm Doug Hoyes. Today my guest happens to be an expert in all of […]

Feb 21, 2015

Crushing Debt. Why Canadians Should Drop Everything and Pay Off Debt


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Today's guest is David Trahair, Chartered Professional Accountant and author of several books about personal finance including the book we talked about today: Crushing Debt: Why Canadians Should Drop Everything and Pay Off Debt. David makes an excellent case for why consumers should pay off their debts rather than save money.

Feb 21, 2015

Consumer Proposal Story: Two Sisters, Similar Debt


Rebecca Martyn, Licensed Bankruptcy Trustee Chatham, Leamington & Windsor Ontario
Posted in Consumer Proposals | Success Stories
Posted by Rebecca Martyn, CPA, CGA, CIRP - TRUSTEE

Five years ago I met with two sisters.  I will call them Betty and Jane, although those are not their real names. What is interesting about this case study is the fact that both sisters experienced a similar debt problem, but each took a different path to dealing with that debt; leading to different results for […]

Feb 19, 2015

High Cost of Credit Card Debt


Posted in Debt Help

Despite the fact that more Canadians are making debt repayment a high priority, more than half still carry a balance on their credit cards. Our infographic takes a look at the landscape of credit card use and debt in Canada and highlights the true cost of using credit cards to borrow.

Feb 17, 2015

Good Debt Vs Bad Debt. Experts Weigh In.


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Taking on debt is a choice. The right choice may be different for different people. We talk with several experts on what they consider good debt versus bad debt, or even if debt can be considered good at all.

Feb 14, 2015

Show #24 - Full Transcript - Good Debt Vs. Bad Debt


J. Douglas Hoyes, Bankruptcy Trustee Ontario
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CPA, CIRP, CBV - TRUSTEE

Listen to the Podcast: Good Debt Vs Bad Debt. Experts Weigh In. Doug Hoyes: Welcome to Debt Free in 30 where every week we talk about debt, money and personal finance. I’m Doug Hoyes. So here’s a question for you, is there such a thing as good debt? If you ask financial advisors that question […]

Feb 14, 2015