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Will your trustee be there tomorrow?
We are a firm devoted exclusively to personal bankruptcy and consumer proposal here in Guelph.
2010: Bad Bankruptcy Statistics Come in Threes
Bad bankruptcy statistics come in threes; 2010 will be a difficult year.
Will bankruptcy in Guelph stop me from being sued?
Yes and no. We will deal with the yes part first:
There is an automatic feature of bankruptcy law in Canada that puts in place something called a “Stay of Proceedings” immediately upon a person filing an assignment in bankruptcy or a consumer proposal. This isn’t something you have to ask the Court to [...]
“THE AMERICAN DREAM”
I read an article recently about the American Dream. According to this report, 5% of people in the United States earning $25,000 a year or less felt that they were living the American Dream. When the annual income went up to $60,000 a year the percentage rate only raised 1%, giving credibility to the reality [...]
RRSPs and Bankruptcy in Guelph
On July 7, 2008, the government brought into force some amendments to the Bankruptcy and Insolvency Act dealing with registered retirement savings plans (RRSPs). If you have RRSPs and are considering bankruptcy you need to know the following information:Prior to July 7, 2008, unless your RRSP was locked in or otherwise exempt, you lost [...]
How Many People Went Bankrupt in Guelph Last Year?
In 2007, 301 residents of Guelph filed personal bankruptcy, an increase of 13% from the 267 people who filed in Guelph in 2006. In addition, a further 115 Guelph residents filed a consumer proposal, an increase of 5% from 2006.
This dramatic increase in the number of consumer proposals and bankruptcy filings in Guelph
follows four years [...]
Guelph Bankruptcy Trustee Testifies in Ottawa – Part 2
Last week I described our testimony before the Senate Banking Committee on student loans and bankruptcy in Guelph. The second part of our oral testimony dealt with our perceptions of how the Canada Revenue Agency may deal with the changes proposed to the Bankruptcy & Insolvency Act.
We noted that there is going to be an [...]
Guelph Bankruptcy Trustee Testifies in Ottawa – Part 1
On February 6, 2008, Douglas Hoyes and Ted Michalos (that’s me in the picture) traveled to Ottawa in order to provide testimony to the Senate Standing Committee on Banking, Trade and Commerce regarding bankruptcy reform. I was the only Guelph personal bankruptcy trustee that has appeared as a witness before the Committee.
Last fall, the Parliament [...]
Why should you choose Hoyes – Michalos as your trustee?
Why should you choose Hoyes, Michalos & Associates Inc. as your trustee?
At the end of the day, how do you decide which professional is going to help you resolve your financial problems? Why choose Hoyes – Michalos instead of one of the other guys that are out there?
It’s really a matter of personal preference. Doug [...]
Bankruptcy Rate in Guelph Increases By More Than Any Other Large City in Ontario in The First Half of 2007
Over the last few months I have noticed a significant increase in the number of people calling our Bankruptcy Guelph information line (519-823-0330), and now I know why.
In statistics just released by the Office of the Superintendent of Bankruptcy, the number of Guelph residents filing personal bankruptcy increased from 126 in the first half of [...]