What is the Right Option For Me: Bankruptcy or a Consumer Proposal? Top Deciding Factors Which May Help You to Make the Right Decision

September 27, 2011

by Angela Marquis, client service specialist At Hoyes Michalos & Associates Inc. we offer two solutions in dealing with your debt. One is bankruptcy. Bankruptcy means you assign everything (surrender) you own in exchange for the elimination of your debts. Everyone’s situation may be different and it doesn’t mean you will lose your assets. Second [...]

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Debt Myths Exposed: Live

September 20, 2011

On Saturday, September 24, 2011, Doug Hoyes and Ted Michalos will be live 570 News (Kitchener) speaking about myths you have heard about debt and how to deal with it including debt consultants, pay day loans, consumer proposals and bankruptcy. They will share their stories and personal experiences from some of the thousands of people [...]

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How we became debt free

September 14, 2011

Last night, while searching the internet, I came across of YouTube video that piqued my curiosity titled “how we became debt free”. The story is actually an interview by a well known US news organization. It tells us of a marriage couple with three children and how 5 years ago they had $125,000 in debt [...]

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Consumer proposal filings in Chatham up for the first six months of 2011

September 7, 2011

The Office of the Superintendent of Bankruptcy recently released the year to date statistics for bankruptcy and consumer proposals filings. The good news for the Chatham area is the decrease in bankruptcy filings for the first 6 months of 2011 compared to 2010. 320 people filed for bankruptcy in the first 6 months of 2010 [...]

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The payday loan trap in Chatham

September 7, 2011

I have written before about the dangers of payday loans. The money seems “easy” when cash is tight. But it is an expensive way of borrowing and you may find yourself in a hole you cannot dig yourself out of. Last week I met with Joan (not her real name) at my Chatham office. Several [...]

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