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Cold Feet Results In Further Financial Stress

I spend my days meeting with people who have, in their own words, dug themselves a deep hole. A financial hole. A hole that seems insurmountable in its complexity. They owe their creditors money, sometimes a lot of money, and they can’t seem to visualize a way to dig their way back out of that hole into financial solvency again. 

By the time many of them have mustered up the courage to call us and book a free debt relief consultation, that hole has usually become wider, deeper and scarier. It’s dark down there, in that financial pit. And they are at their wit’s end about how best to climb back out.

That’s where I come in. I sit them down, talk to them about what’s been happening, jot down some numbers so I can make sense of their situation, and then prepare a customized financial strategy for them to deal with that dark financial hole. Sort of like a ladder that they can use to climb back out and into the sunshine again.

Many of them have been in debt for so long, they’ve forgotten how amazing the sun can feel on their faces.  It’s a great experience, getting out of that hole. It’s a form of hope.  And hope is what sustains us when we are at our darkest hour.

Once we’ve developed a fdebt relief plan together, we’ve fine-tuned it, and I’ve given them a checklist of items (supporting documents, proof of income, proof of any assets owned, etc.), I will need to prepare the legal documents we will use to help them climb out of their debt hole. Then they go home. Feeling good. Feeling the sun on their faces once again.

And then?

That’s when the process stops dead. Many of the people I’ve sent off to collect the information I need to get their protection in place, forget all about the checklist of items I’ve asked them to collect. And they forget all about what has to happen next in order for them to be rescued from the financial hole. It’s like they’ve climbed back down into the hole again.

Cold feet?

Maybe. It’s often easier to do nothing than take action. But the hardest part of the process has already been done – they’ve come in for that first meeting with me. They’ve opened up their lives to me and told me about their hardships. That’s tough to do. And brave. And getting past that first meeting should mean they get moving on solving their financial issues. But often it doesn’t.


Possibly. Sometimes the list is quite long (maybe I’ve asked for paperwork related to their RRSPs, their insurance policies, their paycheques, or their car or home ownership – some of these are really difficult to track down, and I understand that). When faced with a to-do list, most of us tend to shudder. But without those vital backup documents I cannot prepare the legal paperwork they need to have protection from their creditors put into place. So this collection process is essential.


This may be another valid reason for someone who has already taken the time to meet with me to not move forward. It’s kind of scary trusting someone else with your financial information. Our firm is licensed with the Federal Government, as our all of our Insolvency Trustees. In addition, I am a Registered Counsellor with the Office of the Superintendent of Bankruptcy (the government agency responsible for overseeing all bankruptcies and consumer proposals in Canada). I am someone who you can trust with your private financial information. I will take good care of it and use it for one purpose only: to prepare the legal documents we need to obtain protection for you from your creditors.

Relieve yourself from financial stress

Whatever the reason for not moving forward quickly, once that first all-important face-to-face meeting has occurred, it’s essential to remember that the hardest part of the process has already happened – that first sit-down discussion where we talk about the deep, dark hole and I explain how we can get you out of it. Now comes the good part: becoming debt-free. A fresh financial start. Something I look forward to helping you achieve.