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.
A separation or divorce cannot change who is responsible for joint credit card debt. See why your credit card agreement trumps your divorce agreement.
Doug Hoyes explains the legal duties of the supplementary card holder in the event the primary card holder files for bankruptcy or a consumer proposal.
Are you a medical doctor in Canada and experiencing overwhelming financial hardship? Will you still be able to practise and what debt relief options are best for you? Ted Michalos explains.
The Workplace Safety and Insurance Board coverage is a mandatory requirement for businesses in Ontario, including small businesses. Learn what happens to WSIBS debts if you file for insolvency.
Consumer proposals are a very flexible tool when it comes to debt settlement. If you receive a lump sum before or during a proposal, find out how this can impact your proposal terms.
Bankruptcy deals with unsecured and secured creditors differently. We define each type of creditors and explain how these debts are handled in a bankruptcy or consumer proposal.
We explain what you need to know about credit card use before bankruptcy, when you can get a credit card after filing bankruptcy and more in this guide to credit cards and bankruptcy.
Have you signed a voluntary wage assignment with a payday loan company or other creditor? Find out how you can revoke this assignment or stop a garnishment by filing bankruptcy if you can't repay.
Bankruptcy is a legal process and in rare situations you may need to attend bankruptcy court. Find out when this can happen and what you should do if this is a requirement before your discharge.
It’s not that unusual for people to avoid filing taxes because they are scared large tax debts will arise from it. Find out what can happen if you have unpaid debts to the CRA and what you should do.
If you have unpaid tax obligations, CRA can place a lien on your home or other property to collect that money. Learn how a consumer proposal or bankruptcy can prevent a lien and erase your tax debt.
Your mortgage might be affordable when you bought your home but things happen that can increase your housing costs to the point of financial hardship and sometimes insolvency.
It’s our job at Hoyes Michalos to advise you on what the best strategy for your fresh financial start will be. Find out how our process works, from a debt assessment to reviewing all debt relief options available.