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Debt Consolidation Help
Spouse wants to declare bankruptcy It’s not unusual for someone to get nervous when their spouse is contemplating a bankruptcy. They worry their credit history, banking relationships, even their employment maybe compromised in some way. Recently I received an email from Jocelyn, who asked these questions: “If my common-law husband were to declare bankruptcy, what...
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Eliminating your debts There are many ways to deal with the problem of too many debts. Your creditors don’t really care how you got to where you are – they care about how much of their money are they going to get back. If you simply stop making payments, your creditors may eventually take the...
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Consumer Proposals (“proposal”) are the main alternative to filing an assignment in bankruptcy. A consumer proposal is an arrangement between you and your creditors which enables you to pay a portion of your debts over an extended period of time. The amount that you pay and the length of time you pay this amount is...
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This week I met two new clients both in the early stages of consumer proposals. The service they received from their trustee was remarkably different. The first couple were struggling to make ends meet, with a mortgage, and two kids, not withstanding net take home pay of around $6,000 per month. They had owed almost...
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Most trustees in bankruptcy cringe when they hear debt consultants making wild promises on the radio. They are not always telling the whole truth. One trustee wrote several scathing blog posts on the subject including Debt Consultants: Some Horror Stories. In Ontario thousands of people are paying money to debt consultants to solve their financial...
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Today we continue the dialogue with Jordan Rumanek who is a licensed Trustee in Bankruptcy and Administrator of Proposals whose firm Rumanek & Company Ltd. processes well over a thousand insolvency files each year in the GTA. We want to understand how bankruptcy affects homeowners and generally, what can people expect to hold onto if...
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Today we are talking again with Jordan Rumanek who is a licensed Trustee in Bankruptcy and Administrator of Proposals whose firm Rumanek & Company Ltd. processes well over a thousand insolvency files each year in the GTA. We want to understand more about the different types of proposal available to debtors and help readers understand...
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Today we continue the dialogue with Jordan Rumanek who is a licensed Trustee in Bankruptcy and Administrator of Proposals whose firm Rumanek & Company Ltd. processes well over a thousand insolvency files each year in the GTA.  We want to talk about some of the alternatives we keep hearing about on the radio, or reading...
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So much is being written these days about Canada being a debtors’ nation, and that average household debt is at an all-time high. What kind of relief can people get from their debts? There are several approaches, some of them worthwhile, some of them offensive. We recently spoke with Jordan Rumanek of Rumanek & Company...
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Debt  is a wide ranging topic – one I can take in lots of different directions. So many of us struggle with debt – it’s the elephant in the room at most social gatherings. To get the ball rolling, I have written several stories of people I have met who came to me for help....
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