Barry: Bankruptcy in Mississauga

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‘Barry’ a Case History: Bankruptcy in Mississauga – Finding Hope

‘Barry’ (not his real name) was a quiet, pleasant young man in his late twenties, with a history of depression and other medical issues. Although he had been able to work at a local shop for several years, he still needed the emotional support of his parents. As a result, he had never moved out of his parents’ home in Mississauga.

While he was employed, Barry was able to get credit cards from several department and specialty stores. Unfortunately, he would periodically run up his cards and be unable to make the required payments. This led to his taking out a high-interest, unsecured debt consolidation loan. Although he paid off his cards with the loan, he continued to use the cards and ended up further in debt.

After losing his job in 2006, Barry was unable to find further work.

Barry’s parents made his credit card and loan payments for him – until the burden became too great. Once they stopped paying, Barry began to receive aggressive collection calls.

On the advice of a friend, Barry’s parents sought the help of a lawyer, who referred them to David Sklar & Associates (DSAI).

** **

During their initial, free consultation at DSAI, Barry and his parents met with Rhoda Lewis, a Certified Insolvency Counsellor and Estate Administrator.

During the review of Barry’s financial situation, the following was covered:

No Assets

No Secured Debt

Unsecured Debts:

Unsecured Debt Consolidation Loan$8,500
Bank Overdraft$1,400
Credit Cards Totalling$2,800
Total Unsecured Debt:$12,700

No Income

After discussing all of Barry’s options with Rhoda – Barry and his father decided that a bankruptcy would be the best choice. They both felt that it would be a healing process for Barry to deal with his debts.

Barry’s parents decided to pay the $200 monthly fees for his 9-month bankruptcy.

DSAI filed his bankruptcy and during the next 9 months, he complied with the terms by filling in monthly budgets and attending credit counselling sessions.

In 2008, Barry’s bankruptcy was completed and he was discharged from his debt.

The financial ‘fresh start’ that Barry earned through bankruptcy, helped to make his and his parents’ lives, a little easier.

To protect our client’s privacy, aspects of this case study have been altered.

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Christine Sylver was very helpful to my situation. No question asked, she went above and beyond just to give me the options that I need to solve my problems. She explained and made me understand my options. Thank you Christine! Everything was done in a week. Regards, to Richard Sklar for explaining everything further to me. 😊
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Christine Sylver has been very efficient in working with me in all aspects toward developing a very favourable consumer proposal which meets my financial budgeting very nicely. She also exhibited a very positive pro client attitude and was every pleasant to communicate with. Richard Sklar also demonstrated a very positive pro client attitude in explaining in detail all aspects. All great!!
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I had the pleasure of working with Jackie and she made the experience very easy and was very honest which I appreciated as I was extremely nervous to go through with the process. Any questions or concerns I've had after our meetings were answered no problems and although it's been a few weeks I can honestly say I've never felt so stress-free. Very thankful for Jackie.
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My mother told me about this firm because they helped resolve her situation nearly 25 years ago. I had the pleasure of working with Christine Sylver. I should’ve done this years ago but I am where I am and it is what it is. Extremely courteous, professional and understanding. I hope to never need their services again but they would be my first call! A+
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