Blackpages Canada Directory.

How do you survive a financial crisis?

Posted on Monday, January 13, 2014

Gallery Image1
Leo Wynberg, CA, CIRP (standing), Tammy Muradova, Estate Administrator (Seated left) and Elliot J. Rotfarb, MBA. CA. CIRP, captured in the boardroom of the head office’s 3845 Bathurst Street location, in Toronto, Canada. - Photo credit: Sophia Findlay.

By Sophia Findlay


Getting angry, frustrated, overwhelmed and hopeless because of your creditors’ constant calls? Have you ever wished you hadn’t ‘maxed’ your credit card because you bought that last pricey item calling your name in the store? How about that bad financial plan for a car that’s not even worth it in the end? Owed student loan; the tax department; mortgage and other fixed bills and just can’t seem to cope?


Irresponsibility doesn’t always have to be the case for anyone to fall into a financial rot. In fact, according to Leo Wynberg, a trustee in bankruptcy of the 30 year-old firm Brief & Associates Limited, “illness, job strike, job layoff, plant closing or marital breakdown” are contributing factors that can lead up to doubling and tripling up of bills that, without a doubt, attract high interest rates.

 Wynberg says almost everyone has gone through a financial crisis at one time or another, especially from a cause of one or more of the aforementioned.

 Brief & Associates Limited is in the business of solving financial problems for individuals and small to medium-sized businesses in Toronto and Eastern Ontario.

In a short interview, at their 3845 Bathurst Street head office in Toronto, a team of associates consisting of Tammy Muradova, Elliot Rotfarb and Wynberg, told the BLACK PAGES DIRECTORY that it is important to make funds last as long as possible, if faced in the dismal situation of a financial meltdown. They advised not to wait until you’ve exhausted all alternative incomes such as, employment insurance; Canada Pension and company plans; severance pay; Ontario Disability Support Program or Canada Pension Plan Disability; Short or Long-Term Disability and Ontario Works, before seeking help.

They offered helpful information to educate the public in reducing debts and noted that once their service is contracted clients can practically breathe a sigh of relief after a mere sign-up. By then their case is expertly handled and would only need consistency in subsequent follow-ups such as the mandatory debt counselling.

Some ways of cutting down on expenses involve:

  • reduce phone features
  • limit internet access
  • cut out cable TV or satellite
  • reduce or quit smoking

Wynberg says a pack of cigarettes per day habit could cost about $300 monthly. The experienced bankruptcy trustee points out that it is best to consider asking your mortgage and credit card companies to defer payments and those student loans to be put on interest relief.

If ‘push comes to shove’ and you must file for bankruptcy, the Brief & Associates team declared their commitment to help but they advised that you seek help sooner rather than later.

Bankruptcy is a legal proceeding available to a person or corporation in order to cope with a financial crisis. One of the main purposes of the bankruptcy legislation is to give a person who is hopelessly burdened with debt, the opportunity to make a fresh financial start.

However, there are alternatives to personal bankruptcy that can take you out the woods, such as:

  • Consumer Proposal
  • Debt consolidation
  • Arrangements with creditors
  • Budget changes

Usually, one of the most frequently asked question is, What happens to my debts?

If qualified, which you must, the criteria involves owing at least $1000; being unable to meet your required payments as they come due or own insufficient property to pay all of your debts.

So, once you call in the experts like Wynberg, they can literally make your stress go away. No more threatening calls and letters from mean, callous and intimidating collection agents who are usually a nuisance because inadvertently you cannot say when payments will be made.

Most collection actions, lawsuits and wage garnishments are suspended upon filing bankruptcy.

“Creditors will be advised to stop contacting you and to deal directly with us, your trustee. In most cases, upon discharge from bankruptcy, you’re released from your debts,” the team declared.

A free consultation; a no upfront fee policy is executed once you visit their office. If your file is approved then an $1800 charge with a $200 per month financial plan is par for the course to set you free.


    Verification Code 

    Post a comment
    Email me when someone else comment on this post:
    Verification Code 
    © 1991-2018, Blackpages Canada Directory (
    1390 Eglinton Avenue West, Toronto Ontario M6C 2E4, Canada - 416 784-3002
    All Rights Reserved.
    Admin Panel