Debt Relief Experts
Buying and Maintaining an Affordable Car
The best way to control your auto expenses is to buy a car you can afford. This keeps your monthly car loan payments low (since you borrow less) and ensures that you don’t over-finance. But... Read more »
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.
The Benefits of Making Small Micropayments Towards Debt
Debt accumulates over time, a little bit here, a little bit there. You don’t notice the balance growing until it’s too late. Why not take the same approach to pay off debt? Making multiple, small... Read more »
Getting Out Of Debt Requires A System, Not Just A Goal
Every financial guru says that achieving success starts with setting a goal. I disagree. While there is some benefit to setting goals, you are more likely to achieve success if, instead of focusing on goals,... Read more »
10 Key Canadian Debt Statistics for 2018
This past year may prove to be a turning point for household debt in Canada and not in a good way. As of October 2018, Canadian household debt reached a whopping $2.158 trillion. Undoubtedly, this... Read more »
Consumer Debt Crisis is Looming: Predictions for 2019
It’s been a long time coming, longer than Ted Michalos and I predicted in our past year-in-review podcasts. We predicted that 2014 and 2015 consumer insolvencies would remain flat, and they did. However, last year,... Read more »
Should You Use Your Bonus To Pay Off Debt?
If you just earned a bonus from your employer or received an unexpected sum of money, how should you use that bonus if you also have debt? I talk with Scott Terrio and we outline... Read more »
Chatbots: Helping Your Finances or Up-selling?
Financial technology, or fin-tech, has come a long way. Much more than just a budgeting app, now you can do your banking, money management, investing and even borrowing, online. In addition to apps, fin-tech companies... Read more »
Avoid Last-Minute Holiday Money Splurges | Debt Free Digest December 2018
Welcome to our Hoyes Michalos Debt Free Digest where we round up personal finance topics from around the web to help you live, and remain, debt free. Christmas is around the corner. Hopefully you’re done... Read more »
Christmas Etiquette When You’re Dealing With Debt
When you have debt, Christmas is a stressful time. With pressure to spend on family, friends, co-workers, and maybe even your barber, the season turns into more of a financial burden than a time to... Read more »
Bad Credit Debt Consolidation Loans: Are They Worth It?
If you have a lousy credit score, chances are you already carry high-interest debt. Your ability to obtain a debt consolidation loan at a reasonable rate when you have bad credit is severely compromised. You... Read more »
Protecting Yourself Financially from Unexpected Life Events
The death of a spouse and divorce bring an emotional burden, but sadly such catastrophic events also cause financial trauma. In fact, the death of a spouse or divorce are both common reasons why people file... Read more »
How Bankruptcy Works for Debtors and Creditors in Canada
The way a bankruptcy filing works in Canada is that the debtor assigns non-exempt assets for the benefit of his creditors, in exchange for which he will be discharged from most debts. This is the... Read more »
Retraining for a Second Career while Dealing with Debt
If you are out of work or laid-off and need to upgrade your skills to improve your employment potential, how can you do this without incurring more debt? The Ontario government has a Second Career... Read more »
Can You Do A Consumer Proposal Twice?
It’s not as uncommon as you think for someone to become debt free by filing a consumer proposal, and then, years later, face financial hardship again and require another plan to pay off debt. The... Read more »
The Cold-Hard Truth About Unlicensed Debt Consultants
Indebted Canadians pay at least $24 million a year for what is often unnecessary debt advice. How does this happen? Well, when you have overwhelming debt, you’re not just thinking about the money. There’s also... Read more »