In consideration of COVID-19, consultations are now available by phone and video chat.

We are now available by phone and video chat.

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

8 King Street E, Suite 800
Toronto, Ontario

Toll Free: 1-866-747-0660

Call us today: (416) 815-7515

Book A Free Consult

Meet with experienced Licensed Insolvency Trustee and Hoyes Michalos co-founder, Doug Hoyes, in our Toronto Downtown office and get advice to eliminate your debt problems. Doug leads the team in the our City of Toronto debt help location and will work with you to explore several debt management solutions including:

Doug will take his time to listen to your story and he will guide you through the decision-making process of which debt repayment strategy is best for you. For over 20 years, Doug has been helping honest, hard-working Ontario residents get back on track with their finances. And he’s not the only passionate member of our team you’ll work with. Scott Terrio, Manager of Consumer Insolvency and Shelly Ann Redhead, Client Service Specialist, are also eager to walk you through the debt relief journey. 

“My goal is to help people understand how money works. I hear my clients tell me all the time that they didn’t know more than one option existed and I think, of course not. Lenders only care to tell you how to borrow money, not how to pay it off. I want my clients to feel empowered and know everything that’s out there and available to them. – Doug”

At Hoyes Michalos we will make sure you understand all of your alternatives, including consumer proposal and credit counselling before you make the final decision. Bankruptcy is not the only way to get rid of debt.

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

Meet Our Toronto Downtown Debt Experts

J. Douglas Hoyes, Licensed Insolvency Trustee

Doug Hoyes is a Licensed Insolvency Trustee, Consumer Proposal Administrator and a Chartered Insolvency and Restructuring Professional (CIRP). Doug is also co-founder of Hoyes, Michalos & Associates. Doug advocates for consumers needing debt relief to ensure they receive a fair and respectful debt management solution. He regularly comments in the media including publications and networks such as: Canada AM, Global News, CBC, The Globe and Mail, The Toronto Star, BNN Bloomberg, The Financial Post and CTV News. Doug is also the author of the personal finance book Straight Talk on Your Money – The Biggest Financial Myths and Mistakes…and How to Avoid Them. 

Julie Wildman, Licensed Insolvency Trustee

Julie Wildman is a Licensed Insolvency Trustee, Consumer Proposal Administrator and Chartered Insolvency Restructuring Professional (CIRP). Over the years, Julie has helped hundreds of Ontarians get relief from overwhelming debt. She brings a considerable wealth of financial knowledge and experience to her role as an LIT and loves that it’s her job to help ease the stress that comes with money problems. When she’s not in the office, Julie is an avid baker and busy mom to two boys.

Scott Terrio BA, Certified Credit Counsellor

Scott Terrio is a Certified Credit Counsellor and Manager of Consumer Insolvency. Scott lives with his wife and two sons in the Greater Toronto Area. A frequent media commentator, he has a passion for consumer debt issues and cares deeply about the financial well-being of the individuals he meets. Scott takes his time to explore all your debt relief options and is happy to answer as many questions as you can ask. His goal is to help you become more knowledgeable about your rights and help you overcome money problems. Outside of work, Scott spends time with his family and can also be found on Twitter sharing his thoughts on sports, food, and the state of personal finance in Canada.

Shelly Ann Redhead

Shelly Ann Redhead is a Coordinator and Client Service Representative. She attended Humber College and completed a diploma in Paralegal studies. A resident of the Greater Toronto Area, she is keenly aware of the challenges faced by individuals in the region. Shelly Ann is passionate about providing caring client service. Her favourite part of the job is seeing clients get a fresh start in life after they’ve faced personal setbacks. Outside of work, Shelly Ann likes to travel and read.

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.

ildi Avatar

Services are clear, concise, to the point all without losing sight of the sensitivity of the topic at hand. Very... read more

ildi 11/03/2020
C. C. Avatar

I would like to take this opportunity to thank
Hoyes, Michalos and associates for their professional
support and guidance during this difficult...
read more

C. C. 9/30/2020
Rita Maru Avatar

Very professional and helpful! I dealt with Scott Terrio and Doug Hoyes. They both offered great advice and information... read more

Rita Maru 9/18/2020

Find Our Downtown Toronto Bankruptcy Office


DIRECTIONS: Our Downtown King Street office is located at the corner of King Street and Yonge Street. It is the heritage Royal Bank tower and the entrance is on King Street just past Sleep Country. If this location is not convenient, we have 8 other Greater Toronto Area locations to serve you.

Consumer Proposals in Downtown Toronto

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 Downtown Toronto 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 Downtown Toronto 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 Downtown Toronto

Personal bankruptcy should be a last resort, but sometimes it is the right solution to help you get out of debt. Our Downtown Toronto 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 Downtown Toronto 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.

Downtown Toronto Debt Help

Toronto Downtown 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 Downtown Toronto team today at 1-866-747-0660.

Office Address

8 King Street E, Suite 800
Toronto, Ontario

Toll Free: 1-866-747-0660

(416) 815-7515

Map & Directions

Find an Office Near You

Offices throughout Toronto and Ontario