Debt Relief Experts
Walking Away From A Mortgage in Canada
If you are over-mortgaged and facing negative equity in your home, can you walk away from your mortgage in Canada? We explain what you can do when you can’t pay off the entirety of your... 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.
Guide to Student Debt Forgiveness
Did you know it takes the average post-secondary student more than 10 years to repay their student debt? One in six insolvencies in Canada involved someone looking for student loan forgiveness. Why? Because after years... Read more »
Are You Having a Personal Financial Crisis?
A recent Twitter headline claimed that actor Charlie Sheen is having a ‘dire financial crisis‘ with less than $10 million to his name. While that might be a bit extreme, no matter how much money... Read more »
Easy Money Challenges | Debt Free Digest September 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. Sometimes it’s the little things that can really... Read more »
What is Financial Hardship for Student Loans?
Student loans are only automatically discharged when you file bankruptcy in Canada if you have ceased to be a student for more than seven years at the time you file. However, there are cases in which... Read more »
Can You Switch Between Bankruptcy and Consumer Proposal?
There are two insolvency options in Canada under the Bankruptcy & Insolvency Act that allow consumers to eliminate overwhelming debt: a bankruptcy and a consumer proposal. The choice to file a consumer proposal or bankruptcy... Read more »
Welcome to Season 5 of Debt Free in 30
September is a time for a fresh start. The kids are back in school, everyone’s back to work after their summer vacations, and it’s a whole new season here on Debt Free in 30. I... Read more »
Consumer Proposal vs Debt Consolidation
Are you looking for a way to consolidate credit card debt, overdue bill payments or other unsecured debts? A debt consolidation loan may not be your best option when it comes to consolidating and reducing... Read more »
The 80/20 Rule of Money Management
Money management is hard. That’s why so many people don’t do it. Over the years at many credit counselling sessions with clients I’ve explained budgeting, and spreadsheets, and budgeting apps, and lots of other techniques... Read more »
Which Debts Should You Pay First?
Here’s a bold statement for you: debt levels don’t matter. Why? Because it’s not the level of debt that causes the problem necessarily. It’s whether or not you can service it. On our year-end review... Read more »
Can I Negotiate a Debt Settlement on My Own?
Not everyone facing a debt problem needs to file a consumer proposal or turn to bankruptcy. There are ways you can negotiate your way out of debt. The key is to do so carefully, making... Read more »
How to Pay Down Massive Debt: A Realistic Approach
You’ve probably heard the stories of how a $90,000 debt was paid off in just 3 years. Or a $115,000 debt was paid down in just 2.5 years. While these are certainly inspiring events, they’re... Read more »
Tackling School Expenses | Debt Free Digest August 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. In August, we’re sharing resources to help you... Read more »
Minimum Payments on Credit Cards are Keeping You in Debt
If you think your finances are under control because you’re keeping up with minimum monthly payments on credit card debt, think again. To become debt free, you need to pay down more of your balances.... Read more »
Why You Need an Emergency Fund
What is an emergency fund? An emergency fund is money that is available to meet unexpected expenses. You may be managing your current budget, but life tends to throw curveballs. Emergencies like a job loss... Read more »