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).

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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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My visit at David Sklar & Association was great. I met Samycha and she was amazing and treated me with compassion and was never judge by anyone there at the office. I will recommend anyone that is looking for a new start in life again to book an appointment at David Sklar & Associate's. All the staff there is very polite and treat you like you are special.
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David Sklar & Associates… they work for you. They do everything they can to help you get out of debt. They lower your debt, then help you rebuild your credit. They care about helping Canadians get out of debt.I’m in a fair amount of debt, and they almost cut my debt in half for me, and in just five years, I will be debt-free, because of them. I’ve been sick because of the amount of debt looming over my head. After my first meeting with Grace, I feel so much better. Grace set up a Consumer Proposal to help me get out of my debt, and I can see an end to my debt. My mental health has gotten so much better since that first meeting, and I owe it all to Grace, and everyone at David Sklar & Associates. Thank you, all!
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