Achieving Financial Relief Through Bankruptcy: Kelly’s Journey with David Sklar & Associates

financial relief through bankruptcy

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Kelly (not her real name), a single mother in her mid-twenties, was struggling to manage her finances after a marriage breakup she was considering financial relief through bankruptcy. Her modest income couldn’t cover her debts, and she was finding it challenging to raise her daughter and keep up with payments. Collection calls and threats of wage garnishment added to her stress, making it clear that she needed professional help.

Seeking Financial Relief Through Bankruptcy: Contacting David Sklar & Associates

Fearing the loss of much-needed income, Kelly reached out to David Sklar & Associates for a free consultation. During her first meeting with a certified debt counselor, Kelly felt a glimmer of hope as the counselor’s calm and caring approach allowed her to confront her financial situation honestly.

Detailed Financial Review and Professional Guidance

Together, Kelly and the certified debt counselor meticulously reviewed her finances. With an income of $1,700 per month after childcare expenses and no significant assets, Kelly was unable to repay her debts. Her financial burden included a $11,500 line of credit and a $3,500 credit card debt, both of which were in her name despite her husband having incurred most of the debt.

Deciding on Bankruptcy

After discussing all available options, Kelly decided that filing for bankruptcy was her best choice. As a first-time bankrupt with no surplus income, her bankruptcy would be discharged in 9 months, provided she met all conditions, including paying $200 monthly fees, submitting monthly income and expense reports, and attending credit counselling sessions.

The Bankruptcy Process: Steps and Requirements for Financial Relief

Once Kelly filed for bankruptcy, her creditors were notified, and all collection activities ceased. This brought immediate relief from the constant stress of collection calls and potential legal actions. Despite the challenges of monthly reporting, Kelly found the process empowering as she gained control over her finances.

Empowerment Through Financial Management and Credit Counselling for Long-Term Financial Relief

The credit counselling sessions proved invaluable, boosting Kelly’s confidence and equipping her with skills to manage her money better and avoid future debt. She learned to be proactive in her financial decisions, setting a solid foundation for her future.

A Fresh Financial Start: Achieving Financial Relief Through Bankruptcy

At the end of her bankruptcy, Kelly was released from her unsecured debts and felt empowered by her newfound financial management skills. With a fresh start and the knowledge gained through credit counselling, Kelly was ready to move forward and create a more stable financial future for herself and her daughter.

Photo by Alina Zahorulko

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 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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Chan Abdulla
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.
Sheena
Extremely professional, empathetic, honest and down to earth.I felt as those I had previously known Samycha for years. Her ability to relate, understand and assist with my situation was comforting. Very happy with their services.
Simone Foster
The company as a whole is fantastic. If you’re not ready or serious they won’t harass you with cold calls but when you are ready they will help you with a realistic plan. Everyone I’ve worked with is efficient and knows what they’re doing. Just like everyone in the comments I have to praise Cori who I would describe to people like the auntie who knows best lol thank you for everything.
Ricardo Villa
Jerry Janiec and Hernee Templonuevo have been very helpful from beginning to end. Hernee is knowledgeable of what it is that is required of you regarding pertinent documents that they need. Jerry provides a clean picture of your options and makes recommendation that is suited with your current situation. Thank you, both.
Trish Gee
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!
ronald hall
Trina was the one who handled my case. She was understand, patient and professional.
Chris B
Very professional and thorough
Miroslav Dobrilovic
Prompt and very professional responce,By my counsellor Jerry JaniecMake me belive, I'll be out of woods!
Godly Cruz
Cori was very helpful and kind. She thoroughly explained the process and guided me patiently all throughout. David Sklar & Associates is truly commendable.
Andy Bailey
It was a good experience with this company. I appreciate the time they took to help with my experience. Thank you very much and look forward to further business with you.
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