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.
Joel has been an absolute pleasure to work with, gave me a ton of information in a way that made sense to me, and has helped me take the leap into finally dealing with my debt, once and for all. For the first time in my life, I have hope for my financial future.
Heather has also been great and given me valuable tips and insight into rebuilding after a consumer proposal, and managing my finances in a way that will keep me out of trouble in the future. Cannot say enough good about Hoyes, Michalos & Associates.
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I just want to thank Joel and team for making this so easy for me. It was stress free and a really positive experience. Now I can move forward.
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... hi, I just completed my first credit counselling session with Heather Cudmore at Hoyes, Michalos
... I was a little nervous at first, but Heather quickly put me at ease with her professional and very personable demeanor
... I am looking forward to our next counselling session
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Find Our London Bankruptcy Office
DIRECTIONS: The office is located at the corner of Wellington and Baseline Roads, in the opposite corner to Victoria hospital, across the street from Tim Hortons and behind the TD Canada Trust. London Transit Commission buses stop at every corner. The entrance to the building is on the Baseline side. We are located on the main floor, the same floor as the pharmacy. Our first-floor location makes the office barrier-free for those with ambulatory challenges. If driving, we’re in south London, just a few minutes south of downtown, easily accessed via Wellington from St Thomas, and by the 401 from Woodstock, Aylmer, Tillsonburg, and Ingersoll. There is lots of free parking beside both Wellington and Baseline.
Filing a Consumer Proposal in London
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 London team today to talk about how a consumer proposal can help you get out of debt and avoid bankruptcy.
Debt Consolidation vs Consumer Proposal
Managing debt is complex, and for many London residents facing financial difficulties, debt consolidation may seem like the most convenient debt management solution. Consolidating multiple debts into a single loan sounds simple, but it often comes with hidden pitfalls. High interest rates, strict lending criteria and the need for a strong credit score can make these loans less accessible than they seem.
On the other hand, a consumer proposal provides a better consolidation alternative. It allows you to settle unsecured debts for less than you owe without taking out a new loan. Following a government-regulated process, it includes legal protection from creditors, interest-free payments and the ability to retain your assets, such as your home. At Hoyes Michalos, we help London residents navigate the process and customize a repayment plan that fits their budget.
Credit Counselling Services in London
Credit counselling offers valuable guidance and strategies to help manage your debt, including budgeting advice and repayment planning. While these services are helpful, credit counselling cannot legally shield you from creditor actions or reduce your debt. As Licensed Insolvency Trustees, we can offer additional protective options through consumer proposals and bankruptcies. These legal solutions can reduce your overall debt, stop interest charges, and protect your wages from garnishment, giving you the fresh start you need.
Filing Personal Bankruptcy in London Ontario
Personal bankruptcy can offer a fresh start by eliminating most unsecured debts. While bankruptcy is generally the final debt relief option to consider, it can be the most appropriate solution when other financial strategies are no longer feasible.
Our licensed London team is here to guide you through each step of the bankruptcy process. With our compassionate approach, we aim to make the process as stress-free as possible while ensuring you fully understand the implications of filing for bankruptcy.
Get London Debt Help
We provide customized, confidential consultations and solutions for London residents to help them tackle various types of debt.
High credit card balances with soaring interest rates can keep you trapped in a cycle of minimum payments and growing debt. Our team helps you negotiate a government-approved settlement and consolidate your balances into an affordable payment plan, giving you the chance to get back on track.
Relief From Payday Loans
Payday loans may provide fast cash, but their high fees and aggressive collection tactics can create a burden of debt you can’t repay. Our Licensed Insolvency Trustees can include payday loans in your debt relief strategy, helping you break free from the costly payday loan cycle.
Help With Tax Debt
Tax debts owed to the Canada Revenue Agency can be daunting. The CRA’s enforcement actions, from wage garnishments to frozen bank accounts, can add to your financial problems. Our team is equipped to negotiate directly with the CRA on your behalf, helping you reduce your tax debt, halt collection efforts, and find financial freedom.
Student Loan Forgiveness in London
Government student loans may be eligible for student loan forgiveness through a consumer proposal or bankruptcy if you’ve completed your studies more than 7 years ago. Our debt help team can assess your situation and explain your available options to help you move forward financially.
Managing High-Interest Installment Loans
Installment loans marketed to those with poor credit can come with interest rates as high as 59%, making repayment difficult. We can help include these loans in a structured debt repayment plan, ensuring the terms are manageable and aligned with your financial capabilities. 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 you are struggling with debt repayment, break the cycle 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 London team today at 1-866-747-0660.
Debt Relief Experts
