There are several options available for dealing with your debts in Ontario, but today I want to discuss bankruptcy versus credit counselling. There could not be two debt relief programs viewed more differently by consumers.... Read more »
If you have a few problem debts, perhaps an outstanding credit card balance, a cell phone bill, or unsecured financing loan, what can you do to pay off that debt faster? Should you consolidate your... Read more »
Credit counselling is a program to repay your debts in full. Many people choose credit counselling because they think the program is less harmful to their credit. The problem is, in a significant number of... Read more »
Payday loans become the loan of last resort for a lot of people struggling to keep up with credit card and other debt payments. In fact, 4 in 10 of our clients use payday loans... Read more »
If you are looking to get out of debt with the help of a professional, you may be considering the pros and cons of credit counselling vs a consumer proposal. Credit counselling offers a consolidation... Read more »
A debt collector does just what the name suggests: they collect on unpaid debt. They won’t review all your debt relief options with you or give you a plan that makes debt repayment realistic and... Read more »
Generally, the reason people contact us at Hoyes Michalos is to see what their options are for dealing with their debts. They’re looking for debt relief so they can get a fresh start. However sometimes what prompts... Read more »
In recent years we’ve seen an increase in the number of people contacting us for help after a failed debt management plan. A DMP requires that you repay 100% of your debt. If you can’t... Read more »
Today we are going to take an in-depth look at credit counselling and debt management plans as one of your options when dealing with debt. To help you decide if credit counselling can help you... Read more »
What exactly is credit counselling and why do I have to take it if I file for bankruptcy or a consumer proposal? Credit counselling is the term used to describe the two money management sessions... Read more »
One of the duties and responsibilities of filing for either bankruptcy or a consumer proposal is the requirement to attend two financial counselling sessions. The Office of the Superintendent of Bankruptcy (OSB) is currently conducting... Read more »
Not everyone who contacts us needs to file a bankruptcy or proposal. In many cases we direct people to a better solution based on their situation. An option we review with you is a debt... Read more »
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