Answer:
You cannot be vague about your gambling, you must disclose it as a cause for your financial difficulty. You are correct. Gambling is a reason that your bankruptcy discharge will be opposed. You will be required to appear in court to explain demonstrate that you have stopped gambling and successfully completed gambling counselling.

SHOP AROUND and compare as you should be able to compare, price, guarantees, warranties and the duration of the contract.

WHO you are dealing with? Contact the Better Business Bureau or investigate a company online.

NEGOTIATE what you want through investigating the competition. If the sales person wants your business they will listen to your concerns.

READ THE CONTRACT and do not listen to the verbal promises of the sales person. Initial any changes and blank out any spaces not filled out so nothing can be added after you sign.

UNDERSTAND EVERYTHING IN THE CONTRACT and do not feel pressured into signing right away. It is a good idea to bring it to a lawyer to review before you sign.

KNOW WHO TO CALL TO GET HELP OR LODGE A COMPLAINT if you are not given customer service information then request it when signing documents. You should know how to resolve issues in advance.

KNOW HOW TO GET OUT OF IT. Sometimes there is a period of time to get out of your contract without penalty. Most of the time it will cost you to get out of your contract early.

SLEEP ON IT especially if you are prone to being impulsive. That will give you time to think it over and ask yourself if it is a need or a want.

GET A COPY OF IT as you may need to refer to it down the road for customer service inquires.

Signing paperwork you don’t understand can lead to financial problems down the road. If you find yourself in this situation and you need advice about your debt call me at 310-PLAN.

Every day I meet with clients whom have asked “How do I teach my children to manage
Their money?” It all begins with the GOLDEN RULE. The GOLDEN RULE is to pay ourselves first.

How we teach our kids about the GOLDEN RULE is of course to lead by example. I am a firm believer in tracking every penny that goes out of the pocket. Write down every penny you spend for a solid three months. That includes money going to child A, B or C. That way we are aware of where exactly our money is going. You will be shocked to see how much money you are handing over to your children for hot dog or pizza days at school. This can all be very costly on our budgets. This is why children have the magical thinking that money grows on trees.

Our job as parents is to teach our children the realities of life. Children usually have a sense of what money can do for them at about 5 or 6 years of age. A 5 year old would get $5 per week and $1 would go directly into the piggy bank. A child would get a $1 per year of their age for a weekly allowance. Therefore a 6 year old would get $6 per week and $2 would go into the piggy bank.

The GOLDEN RULE is to always pay yourself first. This money is a great investment in their future for college or university. Their wants and needs cost more as they grow older. Teenagers want to go to the movies, go bowling or go shopping which all adds up. The question to ask is do you have enough money in your budget to do all of those things? Or should you wait and save? Teenagers soon find they want more money and the only way to get more is to get a job.

These are very tough economic times and if you are having a difficult time maintaining your budget , please call 519-250-8060 or 310-PLAN for a no cost, no obligation meeting.

Every day I meet with people in Windsor who are worried about preparing a budget, and I give them all the same advice: You must go into the budgeting process with a POSITIVE ATTITUDE. Don’t think about the negative aspects of making a budget; concentrate on the rewards.

You may be able to pay down your debt or save for retirement. Your budget is the tool for you to reach your goals.

STAYING MOTIVATED happens over time and becomes routine. Staying motivated is hard no matter if your goals are to keep physically fit or financially fit. You may consider rewarding yourself or raising the bar a little higher and save more.

Finally you need to have REALISTIC GOALS. It is always best to choose short term goals such as paying off a bill or saving for a vacation. Attaining short term goals helps to build and maintain your motivation. Try these budgeting basics that work:

1. Write down every time a penny goes out of your pocket. Yes, every single penny. It really does add up. Do this for three solid months. Tracking your spending behavior actually works. You can’t change it if you don’t see it.

2. Add these numbers up and put them into your monthly budget along with your fixed monthly bills.

3. Ask yourself if you are happy with where your money is going or is there a yes with a condition? ie: Spending $60 a month at the coffee shop is making them rich. Try spending $30/month and putting the other $30/month in a separate savings account with no attached debit card access.

You may find your debts unmanageable and feel that you are getting nowhere fast. A consumer proposal will give you the fresh start you need. Please call me at 310-PLAN or 519 250-8060 or email me to book a no cost, no obligation meeting.

So here is the plan. Set a limit on how much you are going to spend and then set aside money each month in advance. For example, if you are planning on spending $500 on gifts, set aside $42 each money. If you start doing this in January, you will already have the $500 set aside. It is a lot easier to save a little bit each month than to try to come up with a large amount all at once.

I realize that many people have debt they can’t manage and that is where we can help. Sometimes bankruptcy or a consumer proposal is the best way to get a fresh start.

If you have having difficulty managing your debt, call us at 310-PLAN or 519-250-8060.

The first reason is obvious to anyone living in Windsor. Companies are reducing their work forces or shutting down. This in turn leads to lower incomes for those who worked at the company, and will also have an effect on the people who serviced those companies. It can cause hardship on everyone from the suppliers to the coffee shop across the street from the company.

The other reason for the record filings was the changes the government made to the Bankruptcy and Insolvency Act. If someone was thinking about filing for bankruptcy a month or so ago and realized that filing after September 18, 2009 might cost them more money, many of them decided to file before the rule change.

If you think you may need to file for bankruptcy, call me at 519-250-8060 or email me.

Yes a consumer proposal can be filed be someone in bankruptcy. In fact it is quite common for someone who after filing bankruptcy has an increase in income or a windfall.

Thanks!

Answer: When you file a consumer proposal you give up all of your credit cards; they are cut up and sent back to the credit card companies. In order for the proposal to be successful it is important that you do not incur any additional debt, which is why you lose your credit cards.

The main advantage of a debt consolidation loan is that it takes all of your debt and combines it into one monthly payment. Your new loan payment should be less than the minimum payments you were paying on your credit cards and loans. If it is not a lower monthly payment, this might not be the best option for you.

Another factor to consider will be the interest rate you will be charged. Most credit cards have interest rates between 10% and as high as 28% per year. The interest rate charged on the loan should be lower than you are paying now.

You will also need to consider any other terms the bank has. Do they want to put a lien on your car, or do they need a cosignor? If they do, you need to consider the risk to your car and the cosignor if you are unable to pay the loan in the future.

If you are able to make a monthly payment, but you don’t qualify for a debt consolidation loan, a consumer proposal might be a better option for you. You can call me at 310-PLAN or email me to discuss this option in more detail.

Answer: The answer depends on how far the bankruptcy has proceeded at the time of death. If the bankrupt has fulfilled all of their duties, the bankruptcy may proceed to a normal discharge. If the bankrupt has not completed their duties, and they cannot be completed by the bankrupt’s estate (such as through life insurance proceeds), the bankrupt will not be discharged, which is in most cases not an issue, since after death it is not likely the creditors will be pursuing the bankrupt.