Does the trustee work for the creditors, or for me?

October 26, 2011

There is a common myth that you shouldn’t go see a bankruptcy trustee, like me, because the trustee “works for the creditors” (the people you owe money to).  Instead, according to the ads I hear on the radio and TV, you should go see a “debt consultant”, because they work for you.  That’s ridiculous, for […]

Read the full article →

Cambridge Life Solutions: Who Are They?

September 27, 2011

NOTE: This post was originally published on September 27, 2011. Updated information was added on February 1, 2012 as noted below (updates appear in italics). Who are these Cambridge Debt Solutions guys? That’s a question I’ve heard a lot lately from people meeting with me in my Cambridge bankruptcy and consumer proposal office. They advertise […]

Read the full article →

“See” Doug Hoyes on the Radio

September 23, 2011

This Saturday, for the first time ever, you’ll be able to “see” me on the radio. I’ll be doing a one hour live radio show on 570 News, and the video will be broadcast live on the internet. On Saturday September 24 from 1:05 pm to 2:00 pm Ted Michalos and Doug Hoyes will be […]

Read the full article →

Bankruptcies drop, consumer proposals increase in Cambridge

September 7, 2011

The Office of the Superintendent of Bankruptcy today released statistics for the number of insolvency filings in Canada in for the period ending June 30, 2011. As I often do (in my articles on past Cambridge bankruptcy statistics), I’ve analyzed the statistics for the city of Cambridge, and I present the total number of filings, […]

Read the full article →

Co-signers and bankruptcy in Cambridge

August 4, 2011

Last week I met with three people in a row in my Cambridge bankruptcy and consumer proposal office, and they all asked me the same question: what will happen to my co-signer if I go bankrupt?  My answer? It depends. First, it depends on whether or not the loan they co-signed for continues to get […]

Read the full article →

Bankruptcy Filings in Cambridge Drop in 2010

March 28, 2011

In my last post I discussed how Massive Debt Level Leads Joe Debtor to File Bankruptcy in Cambridge, and I made the point that high debt levels lead to bankruptcy.   But how many people in actually file bankruptcy in Cambridge?  The Office of the Superintendent of Bankruptcy has released the numbers, and here they are: […]

Read the full article →

Massive Debt Level Leads Joe Debtor to File Bankruptcy in Cambridge

February 28, 2011

What does the average person who files bankruptcy in Cambridge look like? We all know the stereotypes: A bankrupt person is unemployed and “down and out”, right? Wrong. Today we are releasing Joe Debtor, The Face of Bankruptcy, a major study exploring the profile of the typical person who files bankruptcy in Ontario. We call […]

Read the full article →

Cold in Cambridge: The Solution is Obvious

January 31, 2011

As I was driving to my Cambridge bankruptcy and consumer proposal office this morning, I stopped at a red light on Main Street, and I watched as few Cambridge residents walked by, presumably on their way to work. At 8:00 am this morning it was bitterly cold, around -20 degrees, so I was somewhat surprised […]

Read the full article →

Cost of Bankruptcy in Cambridge, Ontario

January 15, 2011

What does it cost to file bankruptcy in Cambridge?” That’s a very common question, so I’ve written a detailed explanation in my page on the cost of bankruptcy in Cambridge, Ontario.  Here’s a quick summary: There are three “costs” to file bankruptcy: a base contribution; surplus income asset repurchases. 1 In all bankruptcies a base […]

Read the full article →

Doug Hoyes interviews Mark Silverthorn about Collection Agency Dirty Tricks

November 15, 2010

On Friday November 12, 2010 I interviewed Mark Silverthorn, a former collection agency lawyer. Here’s how it happened. I first became aware of Mark Silverthorn about ten years ago, when he was a collection agency lawyer. Up until a few years ago people would bring me collection letters from Mark Silverthorn, lawyer. I saw so […]

Read the full article →