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Douglas Hoyes in Ottawa, testifying before the Senate Committee on Banking, Trade and Commerce |
On Wednesday February 6, while sitting here in my Cambridge office in the middle of a snow storm, I got word that my flight to Ottawa had been cancelled, so Ted Michalos and I headed off to Ottawa, by car, in the middle of blizzard. We arrived eight hours later, just before midnight, and were able to get a few hours sleep before our testimony before the before the Senate Standing Committee on Banking, Trade and Commerce where we had been called as expert witnesses on the proposed changes to the bankruptcy rules in Canada. |
Bankruptcy legislation is reviewed every few years, and so the Senate is holding hearings so that they can prepare a report with recommendations for future changes. Not only was I the only trustee from Cambridge, Ontario to appear before the Committee, but to date Ted and I are the only personal bankruptcy trustees to appear and give evidence.
Our testimony lasted for over an hour, and during that time we kept emphasizing that the average person who files bankruptcy is an honest but unfortunate person, and they need a fresh start.
We did not get paid to go to Ottawa. We paid for our trip. Obviously my Cambridge office was shut down while I was away, but I believe that the cost was well worth it, because someone needs to stand up for the average person in financial difficulty. There will be lots of lawyers appearing before the Committee, but no average people, and I believe it’s very important for Parliamentarians to realize the impact on the average Canadian when they create new laws.
The new bankruptcy rules will make it more expensive for some people to declare bankruptcy, so to provide balance we thought the perspective of the average bankrupt needed to be heard. I argued in favour of less punitive rules for student loans in a bankruptcy, and we also discussed the importance of consumer proposals as an alternative to bankruptcy.
It’s unlikely that our testimony will lead to immediate significant changes in the bankruptcy rules, but at least you know that when you contact me you are dealing with someone who understands your situation, and is willing to fight for fair treatment of everyone involved in the bankruptcy process.
If you are having financial problems, please call my Cambridge office at 519-622-3773 or 310-PLAN, or e-mail me a question; I know the bankruptcy rules, and I will make sure you understand those rules so that together we can determine the best solution for you.
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