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At Hoyes, Michalos & Associates Inc., our local Bankruptcy Trustees and Consumer Proposal Administrators are here to help.
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Hoyes Michalos Bankruptcy and Consumer Proposal Offices:
If you are overwhelmed by debt, are receiving threatening phone calls from collection agents or are living on debt to pay the bills, we can help.
We help you review your debt relief solutions.
Should I file bankruptcy? Bankruptcy is a last resort. If you can no longer keep up with your debt payments and do not have enough income to support a consumer proposal, bankruptcy can help you eliminate unsecured debt and get a fresh start.
What is a consumer proposal? A consumer proposal is a formal arrangement with your creditors to pay back a percentage of your debts. It can make sense if you can afford to pay back some of what you owe and need time to make those payments. You keep assets you might lose in a bankruptcy, arrange a realistic interest-free repayment plan and get the same creditor protection of a bankruptcy without filing bankruptcy.
Debt consolidation. A consumer proposal is a good debt consolidation option for those who are juggling multiple minimum payments, can’t see a way out of debt and do not have the credit capacity or equity to refinance.