Learn effective strategies for managing and overcoming debt in Canada. Discover practical tips for creating a budget, prioritizing debts, and negotiating with creditors. Understand the importance of distinguishing between good and bad debt. Explore techniques for reducing expenses, increasing income, and avoiding common debt traps. Get information on how to read and understand your credit report, and learn about your rights when dealing with collection agencies. Discover the psychological impacts of debt and strategies for maintaining financial well-being. This section provides valuable insights and actionable advice to help you take control of your finances and work towards a debt-free future.
Struggling to manage your debt? Book a free consultation with Hoyes Michalos. Our Licensed Insolvency Trustees can provide expert advice on dealing with debt and help you develop a personalized action plan.
Banks want you to pay more in interest, which is why they only ask you to pay the minimum balance each month. Find out how minimum payments keep you in debt and how to pay down credit card debt successfully.
Category: Dealing with Debt
Learning how to successfully avoid debt is an important step towards having a financially stable life. We asked our team of experts for their input and they came up with 52 easy-to-use tips for avoiding debt!
Category: Dealing with Debt
Do you have a loved one asking you for financial support? Learn about three personal stories from our clients, questions to ask yourself before lending money, and other ways you can help them out.
Category: Dealing with Debt
CRA tax debt problems can build up. Our experts, Doug Hoyes & Ian Martin talk about how to avoid a big tax obligation and what to do if you do face a large amount of taxes owing.
Category: Dealing with Debt
Have you turned to credit cards or payday loans to help with your monthly expenses? Explore the warning signs that you're falling into debt, how to re-balance your budget and options you have to deal with your debts.
Category: Dealing with Debt
When your adult child is struggling, you still want to help. However when it comes to money, you need to think carefully about what it may cost you to loan them money or co-sign a loan.
Category: Dealing with Debt
Small business owners face unique financial challenges. Find out our top financial tips for avoiding small business debts, how to keep tax debts under control and what you can do if you owe years of taxes.
Category: Dealing with Debt
A highly debated conversation we have with our social media following is the consequences of unpaid debts. Our experts explore this topic, discussing credit cards, payday loans, taxes, mortgages and more.
Category: Dealing with Debt
Drug addiction and accruing some form of debt is not uncommon. In this blog, we explore a scenario of one of our clients in this hardship and how eliminating debts through bankruptcy was part of his recovery.
Category: Dealing with Debt
There is a difference between government student loans like OSAP and Canada Student Loans and a line of credit at a bank or credit union when it comes to insolvency. Learn more here.
Category: Dealing with Debt
Struggling debtors all have their own breaking point when it comes to taking action. In this blog, our experts explore trigger points for insolvency and the options you may have if you have unpaid debts.
Category: Dealing with Debt
If you're planning on borrowing money, its’s important to consider how much debt you can take on. Find out more about debt-to-income ratios, warning signs of too much debt and available debt relief options.
Category: Dealing with Debt
Is your small business facing financial hardship? Are the unpaid debts piling up? In this blog, we offer 5 possible solutions you can use to help keep your business afloat during tough times.
Category: Dealing with Debt
What happens when bills start piling up and you can't meet your monthly debt payments? What actions can lenders take? Discover what options you have to recover your finances.
Category: Dealing with Debt
It is more common than ever to see individuals filing for insolvency for unmanageable student debt, in Ontario. Find out what happens if you can’t repay your student loans and options for debt relief.
Category: Dealing with Debt
