Check out our new documentary DEBTASIZED.

Check out our new documentary DEBTASIZED.

Debt Relief Solutions in Guelph
Licensed Insolvency Trustees & Credit Counsellors
Consumer Proposal • Debt Consolidation • Bankruptcy
Get a Personalized Debt Free Plan

300 Willow Rd
Guelph, Ontario

Toll Free: 1-866-747-0660

Call us today: (519) 823-0330

Book A Free Consult

Get expert debt elimination advice in Guelph, Ontario from one of the co-founders of Hoyes Michalos. Individuals experiencing debt problems will meet personally with co-founder and Licensed Insolvency Trustee Ted Michalos. Our Guelph debt help location provides expert advice on the following debt relief services:

Ted will listen carefully to all the details of your situation, and then explain your options. You will also meet with credit counsellor Meg Penstone, a long-time resident of Guelph and experienced financial expert. Many of our clients avoid bankruptcy by filing a consumer proposal. If a debt consolidation loan or debt management plan make more sense, Ted will tell you.

“I take a keen interest in my client’s life, find out what went wrong, find out what it is that they really want us to help them do. I became an LIT so I could provide a better and kinder service to individuals wanting relief from their debts. – Ted”

We make sure you have all the facts and understand all available debt repayment options so you can make an informed decision.

Book your FREE confidential debt assessment with Ted by calling toll free at 1-866-747-0660 or fill in the form on this page to send us an email.

Meet Our Guelph Debt Experts

Ted Michalos, Licensed Insolvency Trustee

Ted Michalos is a Licensed Insolvency Trustee and Consumer Proposal Administrator. He is also co-founder of Hoyes, Michalos & Associates. Ted is a strong believer in debt management advice that is delivered without gimmicks and without tricks. He is enthusiastic about ensuring that individuals understand all of their options and that Hoyes Michalos helps them develop a custom-tailored plan to deal with their debts. Ted attended Trent University and has a long history with in the Guelph region in which he helps clients. Ted is also a prolific writer, contributing answers and advice on our blog and on several insolvency and debt relief sites, including He has appeared as an expert on bankruptcy and debt related matters including appearances on CBC News, Global TV and Business News Network. 

Meg Penstone BIA Insolvency Counsellor

Meg Penstone is a Certified Credit Counsellor and Client Service Specialist. She attended the University of Guelph and has spent most of her life in this region. She has seen the changes in the community over the years. Meg has worked with individuals experiencing financial difficulty since 1994. She recognizes that money stress can impact many areas of life such as relationships and emotional well-being. That’s why she is dedicated to helping her clients get the support and relief they deserve so they can achieve a fresh financial start. When she is not at the office, Meg enjoys spending time with her family and volunteering. 

What Our Clients Say

Our concept is simple. If you give us 30 minutes of your time, our knowledgeable, experienced team will help you build a plan to become debt free. Our debt professionals meet with clients in Guelph and nearby regions such as Milton, Halton Hills, Fergus, Harriston, Erin, Mount Forest, and Bellwood.

Ashley Grierson Avatar
I highly recommend anyone looking for help go pay off debts to contact Hoyes, Michalos & Associates! They are amazingly kind and fast to respond and very thoughtful. They really do care and make sure you understand exactly what is going on. 10/10
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Ashley Grierson 5/22/2024
Allison Gray Avatar
Ted & Meg have made this process amazingly easy and stress free!! I wish I hadn’t been so hesitant for so long to do a proposal! They have both be so friendly, and helpful… thank you guys!
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Allison Gray 3/26/2024
Kelly Grant Avatar
I was relieved after I reached out, I was made to feel very comfortable and especially appreciated that there was absolutely no judgement on their part. I would definitely recommend them without hesitation
read more
Kelly Grant 10/05/2023

Find Our Guelph Bankruptcy Office

DIRECTIONS: Hoyes Michalos’ Guelph office is located near the corner of Willow Road and Silvercreek Parkway, in the building called the Cornerstone Building, across from Willow West Mall. We are the first office on the left side on the second floor. We also meet with individuals residing in Eramosa, Eden Mills, Aberfoyle, and Guelph Junction.

From the 401: Take Highway 6 North (approximately 14 kms) and turn right at the Willow Road exit.

Consumer Proposals in Guelph

A consumer proposal is a legal debt relief solution legislated with the federal government to consolidate and settle your debt for less than you owe.

Here are the top 10 benefits of a consumer proposal.

  1. write-off up to 80% of your debts
  2. stop collection calls
  3. stop a wage garnishment
  4. unfreeze your bank account
  5. legally binding on all unsecured creditors
  6. deals with CRA and payday loan companies
  7. you keep your assets including your tax refund
  8. reduce your monthly payment to something that is affordable
  9. no interest on monthly payments
  10. avoid bankruptcy

Hoyes, Michalos has a 99% success rate for consumer proposals we file. We work with you to craft an offer you can afford.

The cost of a consumer proposal is known upfront. What you pay is exactly, and only, what repayment you negotiate with your creditors at the beginning of the consumer proposal process. Once you complete your payments and the terms of your proposal, your debts are eliminated.

A consumer proposal can only be filed with a Licensed Insolvency Trustee like Hoyes Michalos. Learn how to file a consumer proposal or contact our Guelph team today to talk about how a consumer proposal can help you get out of debt and avoid bankruptcy.

Debt Consolidation vs Consumer Proposal

If you have significant credit card debt, tax debts or other unsecured debts, you may be wondering if a debt consolidation loan, home equity loan or second mortgage are a good option to consolidate your debts.

There are risks with consolidating with a debt consolidation loan. You may have equity but may not qualify for a second mortgage at reasonable rates. 

Our Guelph debt professionals can help you review your debt restructuring options and compare the pros and cons of a new loan or second mortgage with making a formal, debt settlement offer to your creditors through a consumer proposal.

Filing Personal Bankruptcy in Guelph

Personal bankruptcy should be a last resort, but sometimes it is the right solution to help you get out of debt. Our Guelph licensed insolvency trustee can help you decide if filing bankruptcy is the best option to eliminate your debt.

No matter how serious the debt problem, remember there are always debt relief options. At Hoyes, Michalos you always talk to an expert. Consultations are free and we offer flexible appointment times. Call our Guelph experts at 1-866-747-0660 or email us today.

A bankruptcy and consumer proposal can only be filed through a Licensed Insolvency Trustee. We are licensed by the federal government to help you deal with debt.

Guelph Debt Help

Guelph Licensed Insolvency Trustee location

Debt problems don’t go away on their own. If you cannot afford to repay your debts on your own, as Licensed Insolvency Trustees we help you explore all your options and choose the solution that is best for you.

Break Free From Credit Card Debt

If you are only making minimum payments on your credit cards it will take you years to pay off your balances, if at all. We can help you consolidate your payments and make a settlement offer that can lower your credit card balances by as much as 70%. Your credit cards are rolled into one reduced monthly payment.

This is not a new loan, it’s a government-approved interest-free debt settlement plan payable over up to five years.

Stop the Payday Loan Cycle

Payday loans cause financial stress because the interest accumulates faster than you can pay it off. Over time this eats away at your paycheque. Once you fall behind, payday lenders use aggressive collection tactics like calling your employer and garnishing your wages.

We can include payday loans in your program and help you break the payday loan cycle.

Get Tax Debt Relief

Only a Licensed Insolvency Trustee has the options that can help you reduce your tax debt liability. We can negotiate directly with CRA to create a repayment plan, stop interest and penalties and settle tax debt. If CRA has frozen your bank account or garnished your wages, we can reverse those actions.

Student Loan Debt Forgiveness

Looking for help resolving student loan debt? If you have been out of school for 7 years, your government student loan debt can be discharged through a bankruptcy or consumer proposal.

Eliminate High-Interest Installment Loans

You may have tried to consolidate or pay bills by taking out a high-cost financing loan. While these types of consolidation loans can help you deal with the immediate demand for repayment, they come with an interest rate of 39%, 49% and even 59%.  Installment loans meant for those already in debt or with poor credit just postpone, rather than solve the problem.

Unsecured loans, whether owed to a bank, credit union or financing company can be eliminated with payments determined based on what you can afford.

Why Talk with a Licensed Insolvency Trustee?

If like many of our clients, you are struggling with debt repayment, this is a cycle that is best broken by working with a Licensed Insolvency Trustee near you. We are licensed by the Government of Canada to help you with your debts.

We can help you break free from debt.

If you would like help becoming debt free, call our Guelph team today at 1-866-747-0660.

Office Address

300 Willow Rd
Guelph, Ontario

Toll Free: 1-866-747-0660

(519) 823-0330

Map & Directions