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.
I often see clients who want to file for bankruptcy or a consumer proposal to eliminate their debt but worry about how filing will impact their ability to travel for work, vacation, or to visit... Read more »
Groceries are expensive. It’s no wonder they make up the second biggest expense for most families. With the rising cost of food, is it possible to meet your family’s nutritional needs and avoid breaking the... Read more »
Ice cream is seasonal. Fruit is seasonal. Boating – certainly seasonal. Housing can be seasonal. But insolvency filings? Yes – they really are quite seasonal too. Consumer insolvencies are also subject to cyclicality, secularity, and... Read more »
Your bank has just sent you a pre-approval credit limit offer. Should you accept credit limit increases? When should you think twice about accepting a credit offer from your bank or credit card company? While... Read more »
There is no question that carrying a lot of debt can be stressful. People who come to see me wonder if they will ever be able to break free from their debt obligations. We talked... Read more »
Today we are going to take an in-depth look at credit counselling and debt management plans as one of your options when dealing with debt. To help you decide if credit counselling can help you... Read more »
If you are looking to get out of debt with the help of a professional, you may be considering the pros and cons of credit counselling vs a consumer proposal. Credit counselling offers a consolidation... Read more »
How often does a salesperson persuade you to buy something? Do discounts at stores encourage you to shop more? Advertisements and salespeople will always try to manipulate us into taking action. In this month’s digest,... Read more »
If you are deep in debt you may be struggling with the question: should you file bankruptcy? We know that making a choice to declare personal bankruptcy is not easy, nor is it always the... Read more »
A debt collection agency will often threaten to sue you to get you to pay your outstanding debt. While a collection agency does have the legal right to take you to court to collect on... Read more »
You owe taxes to CRA and haven’t been able to make payment arrangements with a CRA account manager. One of the collection rights available to the Canada Revenue Agency is the ability to freeze bank... Read more »
What moves you to make certain money decisions? Needs, habits, fashion, susceptibility, bias, knowledge – all these traits influence how you deal with money. In this month’s digest, we’re helping you learn about your ‘money... Read more »
More young Canadians are getting into trouble repaying their student debt than ever before. A study by Hoyes Michalos found that almost 1 in 5 insolvencies involve student loan debt, and this number is rising.... Read more »
For the fifth year in a row, Hoyes Michalos is happy to sponsor the LaSalle Stompers boys soccer team for the season. This particular sponsorship is near and dear to my heart, as my son has... Read more »
If you are struggling with debt, you may need debt forgiveness as opposed to a repayment plan. Determining this can be assessed by answering three questions: Are you barely making the monthly minimum payments on... Read more »
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