Check out our new documentary DEBTASIZED.

Check out our new documentary DEBTASIZED.

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

2 Bloor St E, Suite 3500
Toronto, Ontario

Toll Free: 1-866-747-0660

Call us today: (416) 921-3223

Book A Free Consult

When financial problems seem overwhelming, we can help you develop a plan to erase your debt. Our City of Toronto Bloor debt relief location, and all our 9 Greater Toronto Areas offices, provide expert advice on debt management solutions including:

Insolvency and debt management services in our Toronto Yonge and Bloor office are provided by Licensed Insolvency Trustee and Consumer Proposal Administrator, Sandra Sykora. A trustee since 2004, Sandra has a broad range of experience in dealing with lenders and knowing how creditors will respond to consumer proposal terms. Scott Terrio, Manager of Consumer Insolvency will also provide you with the support you need to become financially empowered.

Sandra will carefully review your financial situation with you and explain each of your options. She will be happy to answer any and all of your questions to help you feel comfortable with whatever option you decide is right for you. You can contact Sandra or Scott by phone or email. Flexible appointment times available.

“The best part of my job is meeting a variety of individuals and seeing the diversity of their life experience. I love working one-on-one with my clients, building a relationship, and helping them get on a better financial path. – Sandra”

Book your FREE confidential debt assessment with Sandra 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 Yonge & Bloor Debt Experts

Sandra Sykora, Licensed Insolvency Trustee

Sandra Sykora is a Licensed Insolvency Trustee, Consumer Proposal Administrator and Canadian Insolvency and Restructuring Professional (CAIRP). Sandra grew up in the Toronto region and completed her post-secondary education at University of Toronto. She knows her community and understands its challenges very well. For over 15 years, she has been helping hard-working individuals eliminate their debt problems. Sandra cares about making her clients feel comfortable and motivated and works closely with them to build a strong financial future. Outside of work, one her favourite pastimes is travelling and deep sea diving.

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.

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.

V Gray Avatar
I was a client with Hoyes through my financial re-set after the pandemic. I have received invaluable financial advise. I am now debt-free, have preserved my credit status, and have developed financial processes that are aligned with my long term goals. Thank you Sandra and team Hoyes~
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V Gray 6/04/2024
Colin Dickerhof Avatar
I called back in 2021 for some advice on my debt. Doug Hoyes himself called me and we had a great chat. I took his advice and got a debt consolidation loan to get my debts in order.

With time and any extra money from side jobs I was able to pay off $18000 in debt. I just made my last payment this past week! I listen to their podcast every week. It kept me focused on my goal.

There are few things that feel better than paying off your debt.

Give them a call, you won’t be disappointed!
read more
Colin Dickerhof 5/12/2024
Jung-Woo Kim Avatar
Sandra at Hoyes Michalos is such an amazing trustee. I recently got my proposal accepted and she was incredible throughout the process. Extremely professional and very responsive to any questions or concerns I had. She guided me throughout the entire process and explained things extremely well. She would reply quickly and helped me feel at ease. I would recommend Sandra 10 times out of 10!
read more
Jung-Woo Kim 2/01/2024

Find Our Toronto Bankruptcy Office

DIRECTIONS: Our Toronto Central office is conveniently located directly above the Yonge-Bloor subway station at the North East corner of Yonge Street and Bloor Street at 2 Bloor Street East, Suite 3500 at the Hudson’s Bay Centre. You need to take the elevators that are behind the Security Desk next to the Royal Bank. We are accessible by TTC on the Yonge or Bloor-Danforth subway lines (Bloor-Yonge stop), and also via the PATH.

Parking is a concern as there is a lot of construction going on and thus parking lots have been reduced and things change daily. There is parking in Yorkville at a public lot that you can access off of Cumberland or Yorkville. There is also parking for the Hudson’s Bay Store that you can access off of Bloor or Asquith (street behind the Hudson’s Bay Centre – north side). There is also street parking if you can find it. 

We have 9 locations throughout the Greater Toronto Area. For our other Toronto locations please see our Toronto bankruptcy page.

Consumer Proposals in Toronto Bloor

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 Toronto Yonge & Bloor 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 Toronto Yonge & Bloor 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 Toronto Bloor

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

Toronto Yonge & Bloor Debt Help

Toronto Yonge & Bloor

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 Toronto Yonge & Bloor team today at 1-866-747-0660.

Office Address

2 Bloor St E, Suite 3500
Toronto, Ontario

Toll Free: 1-866-747-0660

(416) 921-3223

Map & Directions