Start organizing your budget and shopping list. Shopping Centres and Individual Shops are starting to package gifts, introduce gift with purchase and have flash sales. Retailers goals at this time is to convince you to not only shop for gifts for others but to also shop for yourself and buy little extras that add up to many extras.
DO NOT GIVE IN TO DISCOUNT ALLURE!
Here are 5 tips to shopping smart so you can live stress free!
1. Make a LIST of who you need to buy
2. BUDGET for each purchase. Consider tax in this individual budget.
3. WITHDRAW that amount from your bank account and PAY CASH FOR EVERYTHING
4. COMPARE prices for purchases online before you shop and shop smart
5. BUY yourself something small as a reward for managing to get through shopping and debt free!
What Happens If I Lie To My Licensed Insolvency Trustee?
It is a statutory obligation for every person filing an assignment in bankruptcy to make full disclosure of all assets, liabilities, income and living expenses. As well, you must disclose information as to the disposal of any of your assets within the past 12 months (5 years if the asset is real estate). If you intentionally do not disclose significant information to your trustee, you will have your discharge from bankruptcy opposed by the trustee.
You might even be required to appear in court to explain why you did not disclose full and complete information. The court can impose penalties on you, depending on the significance of the non-disclosure. You should also be aware that you are asked under oath to swear that all of the information that you gave to the trustee is reasonable and accurate to the best of your knowledge and belief.
Swearing a false affidavit is called “perjury” and now you may be charged under the Criminal Code as well as under the Bankruptcy and Insolvency Act. Not a good situation to find yourself in when you are already stressed out over your debts.
Do you have a story that can help others with their finances? Did your financial decisions lead you to financial freedom? Join us in helping thousands of others attain the financial freedom they have always dreamed of. For over a decade now, Rumanek & Company Ltd. have received positive emails, letters and inspiring stories from people who said: Good Bye to Debt! and started living their financially abundant lives. Rumanek & Company Ltd. have now decided to share these positive financial stories in a 3 Volume Series: Financial Freedom-it Forward.
But they need your help!
This is a call for the opportunity to share your story, help and inspire others. This is your opportunity to share your positive financial stories. How did you get out of debt? What worked for you? What story can you share with others to help them make the right financial choices and steps towards freedom? Are you an RRSP expert? Did you make the right financial choices?
Email us your stories for the chance to be involved in this amazing process to help others attain financial freedom. Your story may be chosen for this 3 Volume Series and you will get the opportunity to: Financial Freedom-it Forward!
We will be accepting inspiring financial freedom stories for the next 3 months so share your story with us and don’t miss the opportunity to help others feel great about their finances. To submit a story go to www.rumanek.com/contact/submit-a-story/
Rumanek & Company Ltd. – Trustees in Bankruptcy & Administrators of Proposals
To learn more please visit our YouTube channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.
Now this is an unusual question. The technical answer is: you do not have to tell him or her anything. When you sign the papers to file an Assignment in Bankruptcy, you will be asked to sign a document under the Personal Information Protection and Electronic Documents Act (PIPEDA) which specifies that your trustee will only deal with those people that they are required to do so in order to perform their duty as your trustee. This normally includes only your creditors, Canada Revenue Agency, Office of the Superintendent of Bankruptcy, the court and any collection agencies or lawyers who have been hired by your creditors. If you wish to authorize your trustee to speak to any other party such as your wife/husband, children, employer, brother, sister, etc., you will be asked to do so in writing.
The trustee will not ordinarily disclose your bankruptcy to your employer. The exception is if one of your creditors tries to garnishee your wages. Your trustee can stop the garnishee, but, if the papers have already been sent to your employer, then your trustee will have to send your employer a letter to stop the garnishee.
With respect to your husband or wife, the issue can get more complicated. If they are a creditor, they must be notified for that reason. The usual problem is that your trustee will periodically be sending you documents, notices, etc. and you will have to make sure that your wife or husband does not open your mail. You should be aware that the envelope has only a return address with no name on it. If this is an issue, please speak to your trustee at the initial meeting and we will try to resolve it by way of Email, fax or an outside mail box service.
It is, of course, better to be honest and upfront with your partner about the financial problems and the fact that you have chosen bankruptcy as the solution to your problems.