Information About Hoyes Michalos Ontario Bankruptcy Blog
Recent Posts
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- 13 Myths About Credit Card Debt in Canada: Fact vs Fiction
Credit card debt affects millions of Canadians, with Equifax reporting the average Canadian carries more than $4,300 in credit card debt. Yet many misconceptions persist about how credit cards work and the best ways to manage credit card debt. These myths can lead to poor financial decisions and mak … Read more »
- What To Do If You Can’t Afford Your Mortgage Renewal Payments
For many homeowners, the mortgage renewal process is becoming increasingly daunting given current economic conditions. According to CMHC, approximately 1.2 million Canadians with fixed-rate mortgages will be facing a mortgage renewal in 2025. Despite recent rate drops, most of these mortgage holders … Read more »
- Are There Free Canadian Government Grants to Pay Off Debt?
While the Canadian government doesn’t offer direct grants for personal debt repayment, several government-regulated programs can help you resolve your debt problems and regain financial stability. Understanding your debt relief options and knowing which programs provide legitimate assistance can hel … Read more »
- The Hidden Dangers of Buy Now, Pay Later Loans
If you’re using Buy Now, Pay Later (BNPL) services to manage your purchases, you’re not alone. While these programs seem to offer a simple way to split payments, they can quickly lead to financial challenges when not managed carefully. As Licensed Insolvency Trustees, we’re seeing more Canadians str … Read more »
- What To Do About Credit Card Debt in Collections
When you fall behind on credit card payments, and debts continue to accumulate, it’s easy to feel overwhelmed by calls and letters from collection agencies. However, understanding how the debt collection process works, how to communicate with collectors and reviewing your options can make deciding h … Read more »