If you're carrying multiple high-interest debts like credit cards and loans, this detailed guide will help you understand whether you should consolidate debt or do a debt settlement to achieve debt relief.
Bankruptcy and credit counselling are two commonly compared options to deal with debt problems. Understand the benefits and downsides of each alternative and which would best suit your financial situation.
It's possible to stave off bankruptcy or choose better debt relief alternatives. Doug Hoyes explains how you can deal with debt on your own, and what other alternatives you have if you have too much debt.
Not-for-profit credit counselling agencies still have to get paid, and they earn kickback fees mostly from banks. Learn 5 reasons why these agencies are now just debt collectors and why it matters to you.
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 »
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 »
With the rapid rise in the real estate market, you may now find yourself with significant equity in your home, yet you are also carrying high interest unsecured debt. On paper you have equity in... Read more »
Hoyes, Michalos & Associates Inc. is not a bankruptcy firm – we are a “fresh start” organization. We know that bankruptcy is not your only option. When you call us for help with overwhelming debt,... Read more »
Does it ever make sense for retirees to go bankrupt? For many seniors, yes. Almost 30,000 seniors and baby boomers filed a bankruptcy or consumer proposal in Canada in 2018. The numbers for Ontario are... Read more »