About Bankruptcy Archives - Page 31 of 43

Secured Credit Card: Part 2

Posted on July 21, 2014April 17, 2016 by Jordan Rumanek

Secured Credit Card: Part 2

How long does it take to qualify for an unsecured credit card and how can I improve my credit rating?

Again this answer varies and it pays to research different cards but ultimately it depends on the card holder and acting responsibly. You should never carry a balance even if you are able to. Paying off your credit card in full every month is the first step towards improving your credit rating and building trust-not to mention a self-esteem booster. Usually responsible use of a secured credit card for a year will help you reach your goal of attaining an unsecured credit card.

Contact Rumanek & Company Ltd. for more information. Or please fill out the form on the contact us page for additional information. Or if you would like a free evaluation please fill out the evaluation form.

Who is the Official Receiver?

Posted on July 10, 2014February 18, 2020 by Jordan Rumanek

The Official Receiver in Bankruptcy in Ontario

If you become bankrupt, an employee of the Office of the Superintendent of Bankruptcy in Ontario called the ‘Official Receiver’ may contact you. Their main role is to supervise Licensed Insolvency Trustees as well as examine the bankrupt if there is an indication that the bankrupt has not properly disclosed all information relating to their affairs.

The Official Receiver is a civil servant and an officer of the bankruptcy court. They have offices in Toronto and throughout Ontario their main duties in your bankruptcy are to assist your Trustee to:

collect and protect your assets (property, possessions, shares) for your creditors
write a report on the cause(s) of your bankruptcy
obtain your discharge from bankruptcy

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

How long does a bankruptcy stay on my credit report?

Posted on July 9, 2014April 17, 2016 by Jordan Rumanek

How long does a bankruptcy stay on my credit report?

There are two main credit reporting agencies in Canada, Equifax and TransUnion. Each agency has slightly different reporting standards, although both are bound by the provincial standards.

Bankruptcy: A bankruptcy and all the debts addressed by your bankruptcy will be deleted six or seven years (depending on your province) after your discharge. The time is increased to14 years if it is a second bankruptcy.

Consumer Proposals: Three years after your final payment with a consumer proposal, the proposal and all debts included in it will be deleted from your file. If your consumer proposal is not fulfilled, however, this fact remains on your file for six years.

Who contacts my Creditors if I declare Bankruptcy?

Posted on July 1, 2014April 17, 2016 by Jordan Rumanek

Who contacts my Creditors if I declare Bankruptcy?

When experiencing financial difficulty, it may seem like the creditor’s phone calls are never ending. Not having an answer and not being able to find feasible solutions may be a reason why many debtors fear the confrontation and communication with creditors.

If you have researched your options and bankruptcy is your choice, the bankruptcy trustee will contact your creditors once you have filed the proper documents. This will stop harassment and collection activities such as pay roll garnishees.

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.

Tag: About Bankruptcy

Secured Credit Card: Part 2

Secured Credit Card: Part 2

Who is the Official Receiver?

The Official Receiver in Bankruptcy in Ontario

How long does a bankruptcy stay on my credit report?

How long does a bankruptcy stay on my credit report?

Who contacts my Creditors if I declare Bankruptcy?

Who contacts my Creditors if I declare Bankruptcy?

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