Bankruptcy Archives - Page 12 of 102

Older Canadians and Future Housing

Posted on June 9, 2017April 12, 2016 by Jordan Rumanek

Older Canadians and Future Housing

It is important to think about your future housing needs as you get older. There are several different kinds of seniors’ housing so you can find out what types of home support are available in your neighbourhood. At the same time, consider your current home to see if there are things you can do to make it easier and safer, as you get older. If you have a disability, you might be eligible for government assistance to pay for home renovations. You should also find out what kind of services are available in your community such as home support—you may want to ask your family doctor and/or someone you trust for any advice or guidance regarding support services. Researching and understanding your options will help you make future decisions about your housing. There are several different types of seniors housing and access to subsidized units for low-income seniors. You will have the option between independent living, retirement homes and assisted living, nursing homes or long-term care. You should compare costs and services offered in each setting.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

Senior’s Planning For The Future

Posted on June 2, 2017April 12, 2016 by Jordan Rumanek

Senior’s Planning For The Future

Decreasing independence is not something that anyone likes to think about, but needing help making legal and financial decisions can happen at any time and for a wide range of reasons. If you’re a senior citizen, you should begin planning ahead for your future. If you get ill, have an accident or even if you are just away for a period of time, having someone you trust who is ready and able to help you can save time and trouble.

In other words, plan ahead, appoint a power of attorney and sign a power of attorney document. This is a legal document in which you name one or more people to be your attorney (decision-maker) to manage your financial affairs.

This is an important plan because you need someone you can trust to look after your affairs if you can no longer look after them yourself.

How Can I Stop Collection Calls?

Posted on January 27, 2017April 12, 2016 by Jordan Rumanek

How Can I Stop Collection Calls?

There are three different situations where an Ontario resident can stop collections calls.

Where you are receiving collection calls concerning monies owing to a bank

In Canada a significant percentage of non-mortgage debt is owed to financial institutions regulated by the federal government. You can stop collection calls in connection with monies owing to a bank provided you do the following:

Send the organization calling you a letter by registered mail
In which you ask that it only communicate with you in writing,
You provide an address where you can be contacted in writing

This federal law gives the consumer receiving collection calls on monies owing to a bank the right to stop calls from not only collection agents but also the original creditor.

Where you are receiving collection calls from a collection agency

An Ontario resident can stop collection calls from a collection agency, regardless of who the money is owed to. You can stop collection calls from a collection agency provided you do the following:

Send the collection agency a letter by registered mail
In which you dispute owing the alleged debt and you suggest the dispute go to court

Where you are receiving collection calls from a law firm

An Ontario resident can stop collection calls from a law firm. You can stop collection calls from a law firm by hiring a lawyer to send the law firm a letter indicating the lawyer is representing you in this matter.

Repair Your Credit Score

Posted on January 20, 2017April 12, 2016 by Jordan Rumanek

Repair Your Credit Score

A credit score does not fix itself. Your credit score is the sum total of the history reported to the credit bureau (either Equifax Canada or Trans Union of Canada by your creditors. Your credit score is affected by many factors such as your payment history, how much credit you are using of your total limit, enquiries by old and new creditors, etc. You should obtain a copy of your credit report every few years to be certain the information on your file is accurate, current and has no errors. If you find anything wrong in your credit report, notify the reporting agency immediately to correct your report. The last thing that you need when applying for a loan or mortgage is an unexpected problem. It takes time to fix a problem, even if you are not the cause of the problem.

As previously stated, your credit report and credit score is based on your history. Even if a debt that was delinquent is subsequently paid off or made current, the history will stay in your file up to 6 years. If a delinquent account has been sent to a collection agency or has resulted in a lawsuit, the information may show up twice. Once under the name of the creditor and a second time, under the public information section at the end of the credit report.

Your credit report and credit score is very important to you. It affects not only your ability to borrow but also the interest rate that you are charged. Very few people have a perfect credit score. If they had a perfect score, they likely would not need to borrow money anyway. For the rest of us, do your best to present yourself in the best possible way.

Category: Bankruptcy

Older Canadians and Future Housing

Older Canadians and Future Housing

Senior’s Planning For The Future

Senior’s Planning For The Future

How Can I Stop Collection Calls?

How Can I Stop Collection Calls?

Repair Your Credit Score

Repair Your Credit Score

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