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.

For media enquiries, email Doug Hoyes or Ted Michalos or phone 1-866-747-0660.

Below are some highlight of our most recent commentary, studies and surveys. More articles and events can be found in our Ontario Bankruptcy Blog – In The News and see recent press releases.

Straight Talk on Your Money

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.

Now available at better bookstores across Canada.  Also available at Amazon.ca and Indigo.ca including Kindle and Kobo formats.  Audio book coming soon.

Read about the book

Global News


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.

Watch Video

Joe Debtor

Hoyes, Michalos Joe Debtor “Face of Bankruptcy

Joe Debtor

Read our just released 2017 study on the average insolvent debtor:

Press release

Watch the video

Read Our Study

Homeowner's Bankruptcy Index

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 monthly

See 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

Debt Free in 30 Show

Debt Free in 30 Podcast

A radio show and podcast where Doug Hoyes talks to expert guests each week about your finances. Listen each week for practical advice to manage debt and understand your money choices. See our station guide or listen and read a transcript of each show.

See Show List

Ontario Consumer Insolvency Statistics

Ontario Personal Bankruptcy and Consumer Proposal Statistics

Ontario Consumer Insolvency Statistics

The Office of the Superintendent of Bankruptcy reports the number of consumer bankruptcies and consumer proposals in major cities across Canada each year on an annual basis.

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

Global News


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

Huffington Post

Doug Hoyes is a current guest author writing for The Huffington Post Canada about financial and personal debt issues.

Read Doug's Articles

CBC News

Doug Hoyes interview CBC The Exchange with Amanda Lang

The Exchange with Amanda Lang

Doug Hoyes talks with Amanda Lang “How do I know when to declare bankruptcy?”

Watch Video

The National

seniors going bankrupt

The National: Seniors Going Bankrupt

Doug Hoyes appeared on CBC’s The National to discuss the rising trend of seniors claiming bankruptcy in Canada. You can see the video Seniors Going Bankrupt or read the CBC article here.

Read More


Hoyes Michalos on BNN

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

CTV News Kitchener

Ted Michalos talks with Frank Lynn about managing your money and improving your financial knowledge.

Watch Video

CTV News

ctv news kitchener financial literacy

Ted Michalos interviewed by Dan Matheson about seniors are carrying more debt and why more older Canadians are filing for bankruptcy.

Watch Video

CTV Canada

J. Douglas Hoyes, Bankruptcy and Consumer Proposal Expert

CTV Province Wide

Doug Hoyes appears on CTV’s Province Wide to discuss bankruptcy and tips on dealing with creditors when you have too much credit card debt.

Watch Video


chch hamilton

A Plan to Deal With Debt

Ted Michalos talks about how Canadians are coping with record debt levels and options for Canadians to deal with their debts.

Watch Video

570 News

Hoyes, Michalos Debt Management Experts

Ask The Experts

Doug Hoyes & Ted Michalos regularly appear on the 570 News Ask The Experts show. Here Doug & Ted discuss why credit can lead to a financial crisis and provide some tips on how to manage your debt.

Watch Video

Harris Decima

Hoyes, Michalos Harris Decima Personal Bankruptcy Research

Hoyes, Michalos – Harris/Decima Research

Hoyes, Michalos conducts periodic research to better understand the causes and effects of debt problems on the average consumer. Our recent studies can be found on our blog under Harris Decima.

Read Our Most Recent Survey

Senate Testimony

Canadian Bankruptcy law Hoyes, Michalos

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 In The Community

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