I was working in my Cambridge bankruptcy office today and I had to make a deposit at the bank, so I walked from our office on George Street down Main Street and over the bridge over the Grand River (thankfully they have finally finished the construction on the bridge). As I left my office at around 1:30 pm it was about -8 degrees and sunny; cold, but a perfect day for a quick walk to the bank, since the wind wasn’t blowing.
As I walked over the bridge over the Grand River and looked down, I was surprised to see foot prints across the river. The Grand River was frozen all the way across. Some brave sole had managed to walk, through the snow, from one side of the river to the other. I’m sure the river has frozen over before, but since I moved to Cambridge in 1997 I don’t remember ever seeing the River completely frozen. Obviously January 2009 has been a very cold month.
Unfortunately when we look back on early 2009 I don’t think it will be the cold weather we will remember, or the fact that the river was frozen. I think it will be sad state of the economy that will be uppermost in our minds.
When I got back to the office I met with a lady who works in the automotive industry. Her hours have been cut back, and she can’t pay her bills. Yesterday I heard the same story from a long-time Toyota worker. There is no overtime anymore, so it’s harder to make ends meet.
What’s the solution? I give everyone the same advice: make a plan now. You may be able to cut your expenses and pay off your debts on your own. Perhaps you can get a debt consolidation loan. Perhaps you need to file a consumer proposal or go bankrupt. The solution will depend on your individual circumstances, which is why I strongly encourage you to give our Cambridge office a call at 519-622-3773 or 310-PLAN, or e-mail me, and we will explain your options, and then book a time for us to meet to go through your options in more detail.
I can’t do anything about the weather, but I can explain your options, but only if you call and get the process started, because with financial problems waiting is almost never the correct solution.
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