Industry insights from Hoyes Michalos co-founders Doug Hoyes and Ted Michalos on bankruptcy, debt relief and consumer debt issues that affect Ontarians. Doug and Ted are strong advocates of a fair, equitable and transparent process for those dealing with overwhelming debt problems.
Struggling with debt? Go directly to a Licensed Insolvency Trustee. Unlicensed debt consultants like York Credit Services will charge you extra fees just for a referral to an LIT. Here's a real story of someone who was scammed into paying an extra $800 for nothing.
Use a Licensed Insolvency Trustee if you need help to deal with your debts via consumer proposal. Trust Advisory Service cannot provide these services and charge unnecessary fees. Learn more about it here.
Want to learn about the role the pandemic played in altering household debts? Read along as Doug Hoyes explores the unprecedented debt and insolvency trends as a result of Canada’s lockdowns, and his future predications.
Ted Michalos explores the asset profile of the average insolvency debtor from our annual bankruptcy study and explains why most insolvent debtors have very little assets at the time they file insolvency.
This year marks the 8th Financial Literacy Month in Canada, which begs the question: has our financial literacy improved in eight years? Total household debt is at record highs while personal savings rates are at... Read more »
On today’s show, recorded in July, 2018, I give my thoughts on what the bankruptcy of Tesla Inc., the electric car company, can teach us about how we manage our own personal finances. And yes,... Read more »
For as long as debt has existed, society has judged people for failing to pay back their debts. Over the years I’ve heard hundreds of honest, but unfortunate debtors tell me they are stressed out... Read more »
Everyone knows the statistics: Canadians are carrying more debt than ever before. And yet, based on a review of data from my clients, it takes less unsecured debt to force individuals to file a consumer... Read more »
At the end of last year, Ted Michalos and I predicted three types of bankruptcies we expect to see more of in 2018: People will be denied for debt consolidation and refinancing. Ontarians will be... Read more »