An interesting article appeared in Sunday’s Toronto Star about Russell Oliver, "The Cashman" who buys gold from Toronto residents. He has become famous for his TV commercials where he sings: "I’m the Cashman . . . Give you money for your gold." With the high price of gold, he’s buying more gold than ever. In fact, he no longer sells gold or jewelry in his store. The shelves are all empty. He just buys it and then sells it to be melted down and used again.
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What I found most interesting was in the sidebar to the article they talked about his life. The recession hit in the early 1990′s, and he ended up declaring a bankruptcy in Toronto in 1991. His old store on Cumberland Street was closed, but a few years later he re-opened on Eglinton Avenue West, just west of Avenue Road, where he remains today. |
Douglas Hoyes, CA |
Why am I telling you this? Because many people I meet with each day ask me the same question: is there life after bankruptcy? Will I ever be able to get back on my feet again?
My answer is yes you can, but it’s up to you. You need to keep your expenses down, start saving money, and gradually rebuild your credit, or just pay cash for everything. The "Cashman" is proof that there is life after bankruptcy, and although I was not a trustee in bankruptcy in 1991 and have never met Russell Oliver, his story is not that unusual. With hard work you can get back on track.
For more information, call our Toronto team at 310-PLAN (310-7526, no area code required) or E-mail us to arrange a free initial consultation, and we can explain how there is life after bankruptcy.
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