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. We help individuals living in Belleville and the surrounding areas of Quinte region, Quinte West, Trenton, Shannonville, Deseronto, Greater Napanee, Napanee, Kingston, Prince Edward County, Madoc, Tweed, Marmora, Campbellford, and Brighton.
I recently contacted Hoyes, Michalos & Associates and I'm so glad I did.
They were so pleasant to work with and helped me find the best solutions that benefited me. Anne was easy to talk to, straight forward and a overall great person to work with.
I would highly recommend this company to anyone.
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I worked with Brian McIlmoyle, LIT to get out from under debt. He was helpful, informative, and kind. There was no judgment or unpleasantness, and I learned a lot of helpful tips about staying out of debt and budgeting for personal wealth and success. Working with Brian and Hoyes, Michalos turned my life around as painlessly as I think is possible.
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Let me start off by saying that Brian McIlmoyle at Hoyes & Michalos helped me change my financial situation 180 degrees. From the high level of knowledge regarding debt, credit and financial planning to the excellent customer service and honesty, I felt secure disclosing my financial matters and felt that I was in good hands. I was always given a great deal of help every step along the way, and whenever an associate was busy, there was always someone to help forward my concerns to whomever I needed to talk to. Thank you Hoyes and Michalos!
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Find Our Belleville Bankruptcy Office
DIRECTIONS: Our Belleville bankruptcy office is located at 54 North Front St (highway 62) at the corner of North Front and Earl St. The office is on the lower level. Enter the doors off the parking on the south side of the building. From points west (Trenton), exit highway 401 onto Highway 62 south (North Front St). From points east (Napanee), exit Highway 401 onto highway 62 South (North Front St). (Napanee) Belleville from points north, take highway 62 south which becomes North Front St. From Prince Edward County, follow highway 62 north (becomes North Front St). 54 North Front St. is located on Belleville transit route 5.
Consumer Proposals in Belleville
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.
- write-off up to 80% of your debts
- stop collection calls
- stop a wage garnishment
- unfreeze your bank account
- legally binding on all unsecured creditors
- deals with CRA and payday loan companies
- you keep your assets including your tax refund
- reduce your monthly payment to something that is affordable
- no interest on monthly payments
- 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 Belleville 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 Belleville 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 Belleville
Personal bankruptcy should be a last resort, but sometimes it is the right solution to help you get out of debt. Our Belleville 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 Belleville 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.
Differences Between Consumer Proposal and Bankruptcy in Belleville
There are two legally binding debt relief plans in Ontario that will allow you and your family the ability to gain a new financial start. They’re known as Personal Bankruptcy and Consumer Proposal. With each of these solutions, you’re provided immediate protection from your creditors, meaning they can’t sue you or contact you. In a consumer proposal, you usually repay only a third of what you owe and you get to keep all of your assets, including tax refunds, investments, and home equity. The greatest benefit to the consumer proposal is that you can avoid bankruptcy, while achieving freedom from your debts.
When you file a personal bankruptcy, your payments vary based on your income and you may have to surrender some assets. A benefit to filing bankruptcy, especially if it’s your first one, is that it can be completed in as little as 9 months. In a consumer proposal, your repayment period can last up to 5 years.
At Hoyes Michalos, we don’t provide a one-size-fits-all solution to your money problems. We take our time and give every one of our clients a tailored plan to pay off their debts and have financial peace of mind.
Belleville Debt Help
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 Belleville debt help team today at 1-866-747-0660.
Debt Relief Experts
