#51 — Doug Hoyes: Bankruptcy, Consumer Proposals and the State of the Canadian Consumer

About this episode

Doug Hoyes discusses bankruptcy, consumer proposals, and the current state of debt among Canadians.

Our guest this episode is Doug Hoyes — Co-Founder of Hoyes Michalos, Licensed Insolvency Trustee and one of Canada’s leading experts on debt and personal insolvency. Doug has spent decades helping Canadians navigate financial hardship and is a passionate advocate for ensuring people understand their options and find the right path forward. In this episode, Dave and Doug dive into the world of debt, bankruptcy and consumer proposals — what they are, how they work and when each option might make sense. They break down how Licensed Insolvency Trustees operate, how consumer proposals are negotiated and what actually happens if you file for bankruptcy (what you keep, what you lose and who typically ends up choosing each path). Doug also shares insights into why so many Canadians are struggling with debt today, from inflation and the “K-shaped” economy to mortgage renewals, rising vehicle costs and the financial impact of divorce. The conversation also explores some of the lesser-discussed drivers of debt including gambling, travel spending and lifestyle creep, along with practical advice on when to seek help and why early action can make a significant difference. Doug brings decades…

People in this episode

Host: Dave

Guest: Doug Hoyes

Topics covered

• bankruptcy
• consumer proposals
• debt management
• financial hardship
• Canadian economy
• insolvency

Keywords

• bankruptcy
• debt
• consumer proposals
• insolvency
• financial advice
• Canada
• debt management

Mentioned in this episode

Organizations: Hoyes Michalos

Places: Canada

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