Barry: Bankruptcy in Mississauga

‘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.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt and live in the Toronto area, call us at 416-498-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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I cannot emphasize enough how thankful I am for Jackie Stanley's help with filing for bankruptcy.All of us dread being put in this position and we have a million questions about the process but trust me Jackie makes it so easy for you that you don't have to do anything yourself!She is very kind and friendly and puts you at ease right away. She emphasizes with you and let's you know it's not your fault.Most importantly when you leave that first meeting you will not believe the load that is taken off your shoulders. You can actually feel it!You are a godsend Jackie and I can't thank you enough!!I hope you are highly valued there as much as you are by me!
Sue Murray
18:45 05 Dec 21
Putting together and executing a Consumer Proposal can be daunting, that is unless you work with Cori Naron at David Sklar & Associates Inc. Cori's advice and support has been instrumental over the past five years. Thank you Cori!!
Barry Kuntz
20:37 01 Dec 21
I’m very happy with the services I received for Jackie Stanley who helped me get my finances in order. It was a quick and easy process & all of my questions were answered.
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01:18 19 Nov 21
I have had the privilege of being supported by Jackie at David Sklar Associate. She was very helpful, very professional and very friendly. She gave me the help I need. Thank you Jackie for your help.
Alex Taylor
22:03 17 Nov 21
Got my probe solved, great service
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17:02 11 Nov 21
Jackie at Daivid Sklar and Associates is such a pleasure to work with. She explained everything in great detail and is always there when I have a question or concern. She really cares about her clients.
Steve Medica
09:33 10 Nov 21
I filed a proposal with another group, which came in as a referral from one of my brokers. My experience went from ok to bad to worse, due to lack of communication and education on the process I was to embark on. I worked with Cori Naron in the past, and I came to her now for help on literally doing the work that the other group should have done. Cori stepped in, educated me, advised on rights, responsibilities, how the process works and what potential outcomes may happen. I do not have enough words of recognition and gratitude for what she did - she alleviated stress, anxiety, dead-end thoughts and she made me live again. Congrats to DSklar for hiring her and retaining such talent.
Giani Kokolakis
18:45 25 Oct 21
Very professional service. Before contacting David Sklar & Associates i contacted bunch of other firms they seemed fishy. After I spoke with Jason Sklar at Hamilton Office I discovered professionalism with hope. I was explained every step of my situation with solution professionally. Thank you David Sklar & Associates.
Wajay Awan
07:29 12 Oct 21
I met David a few months ago and i am glad I did. He has helped me all the way through my bankruptcy with good advice and explained every step of the process. David is a very down to earth and very professional. Anytime I've had a question I was able to reach out to David by phone or email and he always got back to me. If your struggling with your bills and need a way to get help, I strongly recommend David Sklar &Associates to help you. My experience with them on 1-5scale would be a 5;; My life is so much better now, thanks to David Sklar.
Bruce Locke
16:13 08 Oct 21
I have had the privilege of being supported by Jackie S, at David Sklar n Associate.She was helpful, professional and friendly. I was able to get the help I needed at a difficult time in my life. I would recommend anyone who needs support with working out their debts to ask for Jackie, she will be waiting to assist however she can to help you through your debts. She works with a team who is always ready and responsive.Thank you Jackie and your team:)
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15:17 09 Sep 21
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