Hoyes, Michalos & Associates Inc. conducts regular research about debt relief in Ontario and how this affects Ontarians. This includes our bi-annual Joe Debtor research study.
Hoyes Michalos is a personal insolvency service firm strongly rooted in the communities we serve. That means not only being active in our communities, but advocating and informing Ontarians about the dangers of carrying too much debt.
As industry experts Doug Hoyes and Ted Michalos, co-founders of Hoyes, Michalos, were the only independent trustees to appear before the Senate Banking, Trade and Commerce Committee in February, 2008 to give testimony on proposed changes to bankruptcy legislation. Both Doug & Ted have appeared on radio and television providing commentary on bankruptcy, consumer proposal and debt issues.
Straight Talk on Your Money
Straight Talk on Your Money by Doug Hoyes
You deserve straight talk on your money but you don’t always get that when you walk into a bank or talk to a financial advisor.
Based on 30 years of experience helping individuals deal with debt, Doug Hoyes reveals 22 common money myths and provides the practical advice you need to make sound decisions so you can live a debt free and stress free life.Read about the book
Some straight talk about your money
Author Doug Hoyes talks with Jeff McArthur and Carolyn MacKenzie on The Morning Show about financial myths and mistakes and how to avoid them.
Homeowner's Bankruptcy Index
Homeowner’s Bankruptcy Index
Hoyes Michalos index tracking the percentage of insolvent debtors who own a home at the time they file a consumer proposal or bankruptcy. This index measure the impact of real estate prices and mortgage debt on personal insolvencies. Updated monthlySee the index
Interactive Map: Ontario Debt and Bankruptcy Statistics
How much consumer debt causes bankruptcy in your city or region?
How many personal bankruptcies were filed there in 2016?
Our interactive map shows average consumer debt and debt-to-income ratio for the average insolvent person in Ontario as well as total annual insolvencies filed in Ontario by major city and region.See Map
Debt Free in 30
Ontario Consumer Insolvency Statistics
Ontario Consumer Insolvency Statistics
Hoyes, Michalos summarizes the number of consumer insolvency filings (bankruptcies and proposals) for each major city in Ontario and provides commentary on the overall trend.See Ontario Insolvency Statistics
Consumer Alert Debt Settlement
Companies offering to settle your debts or fix your credit problems often do more damage than good. Sean O’Shea reports on how one Toronto financial company took thousands in fees, leaving consumers deeper in debt and talks with Doug Hoyes about why consumers should speak with a reputable Licensed Insolvency Trustee if they are experiencing debt problems.Watch Video
The Huffington Post
The Exchange with Amanda Lang
Doug Hoyes talks with Amanda Lang “How do I know when to declare bankruptcy?”Watch Video
Doug Hoyes appeared on BNN to discuss how Canadians are using second mortgages and home equity lines of credit to avoid bankruptcy.Watch Video
CTV News Kitchener
Ted Michalos talks with Frank Lynn about managing your money and improving your financial knowledge.Watch Video
Ted Michalos interviewed by Dan Matheson about seniors are carrying more debt and why more older Canadians are filing for bankruptcy.Watch Video
Hoyes, Michalos Senate Testimony
In 2008, Doug Hoyes & Ted Michalos appeared as expert witnesses before the Senate Standing Committee on Banking, Trade and Commerce to provide their testimony on the impact to debtors of amendments to Canadian bankruptcy law. This included what are now the current student loan bankruptcy rules, exemptions for RRSPs and the extension of the bankruptcy period for surplus income.See Testimony and Commentary
Hoyes, Michalos Community Involvement
Hoyes, Michalos is a locally based personal insolvency firm. Every day we meet with individuals in our offices across Ontario. We live in our communities, and we believe in being actively involved in our communities.
Sometimes our involvement is very small, like sponsoring local children’s sports leagues. Sometimes our involvement is much larger like our on-going sponsorship of the Rotary Classic Fun Run in Cambridge, the Annual Oktoberfest Run in Kitchener-Waterloo or our support of the Carizon Un-golf Classic.
We are proud members of the various communities we serve; please contact us to set up a meeting with one of our professionals in your community.See Our Community Involvement