Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
Have you been contacted or threatened by a debt collector, and are curious about what you can do moving forward? We explore two types of debt relief options you can use and how they can protect you.
Category: Debt Relief
Learn steps to take if you're struggling to repay a payday loan in Canada and what to do if your loan is sent to collections.
Category: Creditor Actions
Wondering if you can pay one credit card with another? Learn the pros and cons, smarter alternatives to reduce balances, and what to do if credit card debt feels unmanageable.
Category: Dealing with Debt
Hoyes, Michalos has been tracking and reporting on homeowner insolvencies since 2007. See what has been happening with homeowners struggling financially.
Category: Viewpoints
Worried about your mortgage renewal? Learn how the renewal process works, why lenders may deny renewal, what steps to take if it happens, and where to find professional help to protect your home.
Category: Dealing with Debt
Old tickets and debts can still affect your credit score. Learn how collection notices work, when debts expire, how long they stay on your credit report, whether to pay, and why checking your credit report matters.
Category: Viewpoints
Wondering how a consumer proposal affects secured debt? Learn the difference between secured and unsecured debts, whether secured creditors are included, and how proposals impact mortgages, car loans, and leases.
Category: Consumer Proposals
A consumer proposal offers a structured way to deal with debt. This overview explains who qualifies, how the filing process works, and provides a practical example of what a consumer proposal looks like in action.
Category: Consumer Proposals
A payday loan may be tempting, especially when you are in need of an emergency expense but beware! They do more harm then good and can put you into serious debt. Doug Hoyes explains the pros and cons of using payday loans for emergencies.
Category: Loans & Borrowing
A consumer proposal is an affordable way to eliminate overwhelming debt. Any fees are included as part of the proposal process. Doug Hoyes explains the costs of a consumer proposal and how payments are calculated to fit your budget.
Category: Consumer Proposals
No one wants to be a fraud victim. It causes tremendous stress and we have also seen it lead to serious debt problems in some cases. In this post, learn how fraudsters use tricks and deceptions to steal your hard-earned money so you stay protected.
Category: Money Management
Revolving credit means credit cards and lines of credit. You probably use it everyday but it's important to understand all of its benefits and risks so you avoid financial trouble. Doug Hoyes explains in this post.
Category: Loans & Borrowing
You're probably familiar with Canada's credit bureaus already. After all, they provide you with your credit report. But how do credit bureaus collect your information and what more should you know about credit reporting agencies? Scott Schaefer explains in this post.
Category: Credit Repair
If you own a business and had to borrow the Canada Emergency Business Account (CEBA) loan during the COVID-19 pandemic, but are now struggling to repay, what are your options? Doug Hoyes explains how CEBA loan forgiveness works in this post.
Category: Dealing with Debt
A consumer proposal is a debt settlement plan. But what if you change your mind after filing? How do you withdraw a proposal and what does a cancelled proposal mean for your debts and credit report? Maureen Parent explains in this post.
Category: Consumer Proposals
Let's say you're in the middle of a consumer proposal plan and your financial situation changes, like you gain an inheritance, win the lottery, or get a big bonus from work, or if you become unemployed - what's the impact on your proposal? Maureen Parent explains in this post.
Category: Consumer Proposals
Many homeowners have expressed that they are facing financial hardship as a result of record interest rate hikes. So why are homeowner bankruptcy rates so low? Doug Hoyes explains the cycle in this post and when he expects homeowner insolvencies to rise.
Category: Viewpoints
Yes, the courts are involved in a consumer proposal - but only to an extent. In this post, we explain how exactly the courts are involved in a proposal, what a court approval means and whether you will have to go to court.
Category: Consumer Proposals
If you're in a cycle of debt, you know that inflation hasn't been helping your budget. In this post, we show you how to manage your monthly budget to successfully get out of debt. We also explain other way to achieve debt relief.
Category: Dealing with Debt
If you were hoping to pay down debt through a consolidation loan but were denied, fear not. In this post, we explain the common reasons why your lender may not have approved a debt consolidation and outline your debt relief alternatives.
Category: Dealing with Debt
You may already know that a consumer proposal can help you eliminate debt. In this post we explain the top laws and rules that come with a proposal filing so you have a better understanding of the process.
Category: Consumer Proposals
