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.

Do Banks Accept Consumer Proposals?

Your bank may be your biggest creditor in a consumer proposal. In this post, Doug Hoyes discusses what banks look for when reviewing proposals and Hoyes Michalos' process for ensuring consumer proposals are accepted by creditors.

Credit Cards After Bankruptcy: What You Need to Know

We know it can be hard to go without a credit card when you file a bankruptcy or consumer proposal. We explain whether it's a good idea to get a credit card during your filing or immediately after and if you do get a card, which credit card issuers are best to start with.

Why and How Does Someone Go Bankrupt?

There are a lot of misconceptions surrounding why someone is driven to file for bankruptcy. In this post, we share a realistic sequence of events that leads someone down a path of financial instability and into our office for debt relief. We also explain what you can expect when you declare bankruptcy.

GEM Debt Law Contract Review

This is yet another case of an individual struggling with debt, told to pay exorbitant fees to a debt settlement firm to deal with their debts. This time, the company was GEM Debt Law. We review the terms of the contract and explain why these debt consultants should be avoided.

York Credit Services Contract Review

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.