Archives for December, 2009

It doesn’t matter if you’ve been naughty or nice – if you are feeling a pinch in your wallet this time of year you are no different from most residents of Toronto! Holiday shopping in the province’s capital can be both a blessing and a curse! We have the benefit of options – so many stores and so many discount sales – but we also have the burden of increased marketing. When I look out my office window (from our bankruptcy Toronto office at Yonge & Bloor) I see a lighted sign from a major retailer that flashes all of the ongoing seasonal deals!  With so much advertising in Toronto we have decided that our gift to you this season would be a helpful list to aid you in your shopping so that you can put up your best defense – you!

1. Create a shopping list – be clear about who and what you are shopping for and how much you want to spend.  Don’t be tempted. 
2. Window shop first – always look around for deals on specific items – if your father asked for a new microwave oven make sure you don’t just buy the first one you see – there is always a better deal!  Also consider bargaining for the item.  In many cases if you ask for discount or what is available you will be surprised at what can be offered. 
3. Leave the cards at home – shopping with cash will make it easier to stay within budget!
4. Be savvy and creative – think about who you want to give gifts to and if you can make that person happy with something that costs less but has a big impact on them you are really understanding the true spirit of the season – it’s not about how much you spend it really is the thought that counts!

For those of us have entered into this season with existing debts and who plan to deal with them in the new year, proceed with caution – if you are spending on your credit cards today and considering bankruptcy in the new year the credit card companies can ask that you repay a portion of the money spent!

If you already have more debt than you can handle, we are here to assist you so please feel free to call and request your free consultation today!

Happy Holidays Everyone!

Debt can be very frustrating – we all know this – and it doesn’t really matter how big the debt is – it doesn’t take much to upset the apple cart. Many people feel alone with their debts and do not know where to turn for advice – if you live in the downtown Toronto area you can turn to us!

I want to take a moment to introduce our team to you. My name is Sandra Sykora and I am a trustee in bankruptcy with Hoyes Michalos & Associates Inc. Our company has been in operation since 1999. I have been working in bankruptcy for over 20 years and have extensive experience working with people and dealing with their debt problems. I am available to meet with you to review your financial situation and come up with a plan that will work for you and your family.

In the past year, it has been busier than ever due the down turn in the economy. To assist with the increase in volume, in 2008, April Potter joined my office. April is a qualified Estate Administrator and Insolvency Counselor and she has worked in personal bankruptcy since 2004.

Together April and I form the team in the downtown Toronto area, but we also have a team of over 60 people supporting us in our head office, and throughout Ontario.

So if you are feeling overwhelmed by your debts, please contact our office at 310-PLAN(7526), no area code required in Toronto, or toll free at 1-800-472-7775, or e-mail us to ask a question or book your initial consultation. The meeting is a free consultation and takes about an hour and we will need a list of the people you owe money to. We will review all of your options; debt consolidation loans, debt management plans, consumer proposals and bankruptcy.

We look forward to meeting with you; together we will come up with a plan to deal with your debts. Just remember, you can always go downtown, where someone is always waiting to help you!