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.
I recently had a credit counselling session with Hoyes, Michalos & Associates, and I couldn't be more satisfied with the experience. Brennan Thompson was professional, knowledgeable, and very helpful. He provided me with clear, step-by-step guidance on how to rebuild my credit, as well as useful resources that I could easily access afterward. The process felt personalized, and I never felt rushed or overwhelmed.
I also worked with their trustee, Benny Mendlowitz, regarding my bankruptcy issue. He was incredibly understanding and provided clear information that helped me navigate a difficult situation. Additionally, Brennan's assistance with my OSAP concerns was invaluable, ensuring I had everything I needed to move forward.
If you're looking for support in managing debt or rebuilding credit, I highly recommend Hoyes, Michalos & Associates. Their expertise and supportive approach made a real difference for me.
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I must say that 5 stars aren't enough for Benny and his team at Hoyes, Michalos & Associates in North York. This has been a life-changing experience for me, they were professional, non-judgemental throughout the process, always willing to help and ready to answer any questions that I had at any time. Thank you Benny, Brennan and Wendy, I wish I could give you more than 5 stars. Thanks again!
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Hoyes, Michalos & Associates has been life-changing for me. Firstly, I would like to thank Benny Mendlowitz and Brennan Thompson for their amazing service, kindness and most importantly their understanding. This has been life-changing for me. I never thought there was a way out of the hole I was in. I had many mixed emotions and hesitations about consumer proposals, but Benny and Brennan clarified all my concerns. Their responses were detailed and timely, which make all the difference. I'm look forward to a new, debt-free chapter! Thank you ever so kindly again Benny and Brennan of Hoyes, Michalos & Associates! Take care and God Bless, Sharon Adams
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Find Our North York Bankruptcy Office
DIRECTIONS: Our North York office is located near the corner of Yonge Street and Sheppard Avenue, directly across from the Sheppard Subway station. There is ample paid parking space available below and above-ground, and in adjacent parking lots within easy walking distance. We also have 8 other Toronto debt relief locations to better serve our clients.
Consumer Proposals in North York
A consumer proposal in Ontario is a legal process that allows you to settle your debts for less than you owe. Working with our North York Licensed Insolvency Trustee, you’ll make an offer to your creditors to repay a portion of your debt through affordable monthly payments, typically over a period of up to five years.
Key Benefits of Filing a Consumer Proposal:
- Reduce your total debt by up to 80%
- Immediately stop collection calls and legal actions
- End wage garnishments
- Regain access to frozen bank accounts
- Create a legally binding agreement with all unsecured creditors
- Include tax debts and payday loans
- Keep your assets and tax refunds
- Set up one affordable monthly payment
- Pay no additional interest
- Avoid declaring bankruptcy
Our team has helped thousands of individuals successfully complete their consumer proposals. The process begins with a free consultation to assess your situation. We’ll help determine a realistic offer based on your income and expenses, then present it to your creditors. Once accepted, you’ll make fixed monthly payments with no additional interest or fees – the amount you agree to at the start is exactly what you’ll pay.
Only Licensed Insolvency Trustees can file consumer proposals. Contact our team today to learn how we can help you achieve debt relief while avoiding bankruptcy.
Debt Consolidation vs Consumer Proposal
When people struggle to repay credit card loans, debt consolidation is often the first option that comes to mind. While this may seem easy, many people considering debt consolidation already have late payments on their credit reports, making it difficult to secure affordable loans. All too often, debt consolidation simply delays financial trouble rather than solving it.
Consumer proposals are a government-approved form of debt relief that can reduce the amount you owe, stop debt collection calls and allow you to repay a portion of your debts over 5 years. Once you complete the consumer proposal, you will be debt-free at the end of the payment period.
Debt Management Plans
Debt management plans (DMP) are a consolidation program through a not-for-profit credit counselling agency. While they can eliminate or lower interest, you are still required to repay 100% of your debts, plus additional credit counselling fees. DMPs are also voluntary. They do not automatically stop garnishment orders, and creditors aren’t obliged to agree to the plans.
A debt management plan is not suitable for people who can’t afford to pay their debts in full. Consumer proposals may be a better option for these individuals, as they eliminate a wider range of debts, including tax obligations and student loan debt, and can greatly reduce the payments required. As Licensed Insolvency Trustees, we can help you file for a consumer proposal.
Filing Personal Bankruptcy in North York
If you owe a significant amount of money and can’t make the payments required for a consumer proposal, an Ontario bankruptcy may be an option to discharge your debts. Filing bankruptcy is a legal process that can stop collection calls, wage garnishments, and mounting interest charges. While a last resort, as a debt solution, it provides immediate protection from creditors and a structured path to resolve your debt challenges.
We understand that considering bankruptcy is a significant decision. Our team will carefully review your financial situation, explain how bankruptcy would affect your assets and income, and discuss possible alternatives. With our guidance, you’ll understand exactly what bankruptcy means for you. If you’re considering bankruptcy, our North York debt help team can help you understand your options and decide if bankruptcy makes sense.
Get North York Debt Help
People end up in debt for many reasons. Our Licensed Insolvency Trustees aren’t here to judge. We offer confidential, practical advice to help you take back control of your finances.
Break Free From Credit Card Debt
Credit cards can be useful tools if they’re paid off in full every month. However, if you only pay the minimum payment, it could take years to clear the balance, and you may end up paying thousands in interest. Our team can help you reduce your balances and get on the path to living debt-free.
Stop the Payday Loan Cycle
High interest rates and predatory collection practices can make breaking free from the payday loan cycle incredibly difficult. If you’re in a cycle of rolling over payday loans and can’t see a way out, call our North York team today for fully confidential professional debt advice from Licensed Insolvency Trustees.
Get Tax Debt Relief
Overwhelming tax debt with the Canada Revenue Agency (CRA) requires professional attention, as interest and penalties can quickly escalate a manageable amount into a serious financial burden. As Licensed Insolvency Trustees, we have unique authority to work directly with the CRA to halt collection actions, stop additional charges, and negotiate viable solutions. Whether through a consumer proposal or bankruptcy, we can help you address your tax obligations and create a manageable path forward.
Get Forgiveness for Student Loan Debt
If you’re struggling to repay your student loans and completed your studies 7 or more years ago, you can have your student loans discharged without declaring bankruptcy. Meet with our Licensed Insolvency Trustees to discuss consumer proposals and learn how they can free you from student loan payments.
Stop Living Paycheque to Paycheque Due to High Interest Rates
Consumers with poor credit often fall into the trap of taking out high-interest installment loans to pay bills or consolidate credit card debt. The interest rates on these loans can be crippling. A Licensed Insolvency Trustee can offer advice on how to break free from this type of debt and start on a path to better financial health.
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 North York team today at 1-866-747-0660.
Debt Relief Experts
