Young Money With Tracey Bissett

Doug Hoyes is the co-founder of Hoyes, Michalos & Associates Inc., a personal insolvency firm that helps consumers in need of debt relief. He is a passionate advocate for ensuring that people find the right solutions to their debt problems. Doug has a BA from the University of Toronto and is a Chartered Professional Accountant and Licensed Insolvency Trustee. He is the author of Straight Talk on Your Money: The Biggest Financial Myths and Mistakes…and How to Avoid Them, hosts the popular Debt Free in 30 weekly podcast and regularly comments in media publications such as the Globe and Mail, Global News, CBC, and BNN Bloomberg.  Doug joins me today to explain the difference between consumer proposals and bankruptcy. He explains the work of a licensed insolvency trustee and how they help individuals find legal debt solutions. He explains the concept of garnishments and how they work as well as when to consider seeking a consumer proposal or filing for bankruptcy. He also shares sound advice surrounding debt