Last week I was asked to appear on the CBC Television CBC News Sunday program to discuss what it’s like to go bankrupt, so on Sunday morning, in the rain, I got into my car and made the hour long drive to the CBC studios on Front Street in Toronto. As the economy worsens, the media is paying more attention to the problems of the "little guy", so we are getting ever more frequent requests to discuss bankruptcy and related issues on the TV and radio.
This interview was a first for me; I was interviewed with a man who declared bankruptcy four years ago. (He did not go bankrupt with me, and I had not met him until we met at the television station). The producers of the broadcast wanted an inside look at the bankruptcy process.
I explained the bankruptcy process, and the gentleman explained how bankruptcy truly did give him a fresh start.
I’m pleased that the media is paying more attention to the problems faced by the average person. Many people I talk to believe they are all alone, and that no-one else is experiencing financial problems. That’s not the case, as an increasing number of Canadians are led to file personal bankruptcy in Canada as a result of their financial problems. I believe it was valuable for the viewers to hear from an actual person who filed bankruptcy.
I then had the opportunity to explain that bankruptcy is not the only option; I always discuss consumer proposals and other solutions with everyone I meet, but in the end it’s up to you to decide which solution is best for you and your family.
You can watch the entire segment about bankruptcy on the CBC web site.
If you want a personal review of your situation, please call my Cambridge office at 519-622-3773, or e-mail me, and my staff will arrange a no charge initial consultation so we can review your options and allow you to decide how to deal with your debts.
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