Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
Interest depends on the types of loans you borrow. Ted Michalos explains what the criminal interest rate is in Canada, how payday loans are a trap and what to do if you have overwhelming monthly interest.
Some businesses that do your taxes offer ‘cash back’ incentives for using their services, but what does this mean for the consumer? We explain how instant tax refunds really work and the associated costs.
Taking on another payday loan to pay back existing payday loans is not the answer. Learn how a bankruptcy or consumer proposal can eliminate payday loan debt and get the help you need to break the cycle.
Did you know there are several ratios you can use to measure your personal debt risk? Find out how to calculate these ratios and what you can do to apply the knowledge to your financial decisions.
A common, but false, tactic debt collectors use to scare is the threat of jail for unpaid debts. Unless you have committed fraud, find out why jail is not a risk if you default on your debt payments.
Not-for-profit credit counselling agencies still have to get paid, and they earn kickback fees mostly from banks. Learn 5 reasons why these agencies are now just debt collectors and why it matters to you.
Debt ads up over time. Spot the warning signs of debt problems so you can stop the slide into insolvency if possible. We explore what you can do if you struggle with debt repayment.
Should you consolidate credit card debt with a home equity line of credit? Find out how a home equity line of credit works and if it’s really the right choice for you.
The CRA has strong collection powers, one of which is the ability to garnish your wages. Learn everything you need to know about a CRA wage garnishment and what you can do to avoid this proceeding.
Will selling your assets be the solution to your debt problems? What assets should you never liquidate to pay off debt? Doug Hoyes and Ted Michalos explain how to pay off debt and keep key assets.
Learn what happens to “cash windfalls” like an inheritance or lottery win when you file bankruptcy and how you can keep these funds in a consumer proposal.
Paying down debt doesn't have to take big chunks of money. Doug Hoyes explains how to pay down debt sooner using micropayments and how it improves your financial situation.
Do you have a financial goal and are struggling to stick with it? We explain differences between setting goals vs systems, and the benefits of using a system approach to get yourself out of debt.
Do you have unpaid debts piling up and have recently received some unexpected income? Find out 9 ways to spend this money efficiently and how to avoid common mistakes we see when people get a bonus.
Curious how bankruptcy works? Our detailed guide explains what happens when you file, how it affects your debts and assets, as well as what you need to do to declare bankruptcy.
Are you juggling training for a second career and trying to keep up with your debt payments? Learn about how Second Career Ontario can help with the cost of retraining so you avoid more debt.
Have you previously filed a consumer proposal and find yourself in financial hardship again? Learn about how you can file a proposal again and if there are any differences about the process.
Has one of your creditors frozen your bank account? Find out who can use this form of collection, how to clear your frozen account and answers to other common questions you may have about this legal action.
It’s not uncommon for an insolvent debtor to want to go back to school. But are they eligible for OSAP during insolvency? Find out what factors make you eligible and what is required in your application.
Do you have unpaid debts in Canada, but are currently not living here? Our experts explain the requirements for declaring bankruptcy when you no longer live in Canada and what happens if you don’t file.
Our experts offer their advice on the pros and cons of joint bank accounts and credit cards, and what happens to these accounts when one person finds themselves facing insolvency.
Debt Relief Experts
