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.
- Hoyes, Michalos & Associates Inc. conducts regular research about insolvency and consumer debt issues. This includes our bi-annual Joe Debtor bankruptcy research study.
- 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.
For media inquiries:
Annual ‘Joe Debtor’ Bankruptcy Study – Profile of the average person filing a bankruptcy or consumer proposal in Ontario. An annual study conducted since 2011.
Student Debt Crisis – 8-year trend of how student debt has contributed to insolvencies in Canada.
Payday Loans and Bankruptcy – Annual update on how payday loan use has risen among insolvent debtors.
Homeowner’s Bankruptcy Index – Proprietary index measuring the percentage of insolvent debtors who own a home at the time of filing. Updated monthly.
Seasonal and Cyclical Trends in Insolvency – Information and data on the seasonal and economic drivers that influence Canadian consumer insolvencies.
Monthly Ontario Consumer Insolvencies – Charts, data, and commentary on the monthly trend of consumer bankruptcies and proposals in Ontario.
Consumer Debt and Insolvencies Map – Regional Ontario map, by city, showing annual consumer insolvency filings, average consumer debt, and debt-to-income ratio for a typical insolvent debtor.
10 Key Canadian Debt Statistics – Annual data on the top debt statistics that drive consumer insolvencies in Canada.
Millennials and Debt: No Room to Maneuver – Documentary on what we believe to be the biggest, most concerning group facing debt problems today; Millennials – The making of their debt and why they have no room to maneuver.
A Different View of Credit Counselling – Credit counselling services across Canada have changed. Local organizations have been on the decline, being overtaken by large, national, call centre credit counselling agencies. See how this impacts consumers looking for debt help.
Why the Ontario Government Didn’t Come Down Hard Enough on the Payday Loan Industry – Lowering the cost of borrowing is a good first step, but it’s not enough to prevent people from spiralling into payday loan debt.
Skirting the Essence of Ontario’s Debt Settlement Laws – How fee for service debt consultants are still charging unnecessary fees to unsuspecting, heavily indebted consumers.
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.
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.
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.
Debt Free in 30
A 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.
Doug Hoyes appeared on BNN to discuss findings from our Joe Debtor study and explain why the Millennial generation is increasingly filing a consumer proposal or bankruptcy to deal with escalating debt.
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.
CTV News Kitchener
Ted Michalos talks with Frank Lynn about managing your money and improving your financial knowledge.