Never give up If you have never had to count your pennies (literally) to live day to day, you may not be able to empathize with today’s featured clients. But believe you me, when times are desperate, it can feel like there is no way out – and people give up. Where do you think...Read More

Regular people want to borrow money Earlier this year, I advertised my credit counseling services in Toronto’s major newspapers. The phone rang off the hook. Interestingly, very few people call hoping to enter into a consumer proposal or even bankruptcy. Most want to borrow MORE MONEY, as a way to solve their financial problems. No...Read More

Not Balancing Your Budget Is More Stressful In Long Term Than Taking Your Lumps Now Brian and Susan have down sized their home three times in the past two years. Brian used to be a self employed website designer, making close to $100,000 per year, but business dried up when the recession was in full force,...Read More

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, notwithstanding net take home pay of around $6,000 per month. They had owed almost $70,000...Read More

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...Read More

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...Read More

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...Read More

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...Read More