Make Your "Get Out of Debt Plan": Start by Calling Hoyes Michalos at 310-PLAN

I have more debt than I can handle - I need a PLAN!

If you have so much debt that you feel overwhelmed and don't know where to turn, you need to come up with a Get Out of Debt Plan that can work for you.

You may have debt because you lost your job and used credit to survive, or because you went through a marriage break-up, or perhaps had medical problems that prevented you from working. How you got into debt is less important than what you can do to get out of debt.

The first step in your plan for dealing with debt: arrange for a no charge and no obligation consultation

At Hoyes, Michalos & Associates Inc. we realize that everyone's situation is different, so no one plan is right for everyone.

Your plan starts with a call to us at 310-PLAN (that's 310-7526 - no area code required in Ontario), or with sending us an e-mail to start the process.

If you call during the day you will speak to one of our trained counsellors who will ask you a few simple questions. We will then arrange to meet with you, in person, at one of our conveniently located offices in Ontario.

At our first meeting - which is at no charge and no obligation - we will discuss the different elements of a plan to deal with your debts, including:

Using your personal budget to determine if you can increase your income or reduce your expenses each month to deal with your debts on your own. For many of the people who contact us some simple adjustments to their budget are enough to get them back on track.
We will then explain debt consolidation as a way to deal with your debts. This is a great option if you have equity in your house, or if you have enough income to repay your debts in full.
If you don't qualify for a debt consolidation loan, the next option is credit counselling where a non-profit credit counsellor combines all of your debts into one monthly payment, so that you repay your debts, in full, over a three to five year period, through a debt management plan.
If you cannot offered a debt management plan, the next option is a consumer proposal to creditors.
If all else fails, the final option to consider is filing for Ontario bankruptcy.

Please note that at Hoyes Michalos we do NOT recommend bankruptcy as your first option. We believe all debt plans should consider all options first, and personal bankruptcy should be considered only as a last resort.

For more information on bankruptcy alternatives available to you, please watch our Bankruptcy and Alternatives to Bankruptcy Video (3:04 min).

What do I do now?

Debt problems will not get better on their own.

If you are experiencing money problems and can't pay your bills, you need a plan to get out of your debt; we recommend that you call one of our Ontario offices or contact our bankruptcy trustees directly today and arrange for a no-charge consultation.

Don't put off peace of mind - call us today at 310-PLAN and let's get started.

Our bankruptcy offices in Ontario
Contact a bankruptcy trustee
About bankruptcy trustees at Hoyes Michalos