Kelly: Filing for Bankruptcy after Marriage

A Much Needed Fresh Start for a Mother of One –  Aftermath of a Marriage Breakup & Bankruptcy

Kelly (not her real name), was in her mid-twenties and overwhelmed by the chaos her finances had become.

This newly-single, mother of one, was unable to keep up the payments on her debts, was struggling to pay for her modest apartment in North York and finding it financially hard to raise her daughter.

Added to this, her creditors had begun calling her, demanding payment and threatening to put a garnishee on her income.

Unable to cope with the added stress of collection calls and fearful that she would lose some of her much-needed income to a garnishee, Kelly decided to get help.

She called David Sklar & Associates and booked a free consultation.

*** ***

At her first meeting with Ashley Carter, Estate Administrator – Kelly felt hopeful for the first time in ages. Ashley’s calm, caring professionalism enabled Kelly to look at her financial situation with total honesty.

Together they reviewed her finances in detail.

After childcare expenses, Kelly had an income of approximately $1,700 per month. With no assets, beyond those exempted from bankruptcy in Ontario, she simply did not have the resources to repay her debts.

Kelly had two unsecured debts – a line of credit at $11,500 and a credit card at $3,500.

Although Kelly’s husband had run up most of the debt on the line of credit and the credit card – only Kelly’s name was on the agreements – which meant that she alone was responsible for their repayment.

As they reviewed her financial situation, and discussed all of her options, Kelly felt that bankruptcy might be her best choice.

As a first-time bankrupt with no surplus income, her bankruptcy would be completed in 9 months, if all the conditions of her bankruptcy were honoured. Those conditions included 9 monthly fees of $200; monthly submissions of spending and earning records; and attending credit counselling sessions.

At the end of her bankruptcy, she would be released from her unsecured debts.

After a further review with the trustee, Kelly decided to file for bankruptcy.

Once her bankruptcy was filed, her unsecured creditors were notified, and all collection calls and legal actions were stopped.

Kelly found the monthly reporting both challenging and empowering. She was taking control of her finances – and learning to be proactive, rather than just reactive. The credit counselling sessions gave her more confidence as she learned ways to better manage her money and avoid debt in the future.

At the end of her bankruptcy, released from her unsecured debt and empowered with her ability to better manage her finances, Kelly felt ready to make the best use of her fresh financial start.

To protect our clients’ 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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The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
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20:18 16 Jun 22
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15:10 14 Jun 22
Jerry at David SKLAR helped me thoroughly understand my options and made me feel at ease. If you are looking at this type of service/help, I 100% recommend you give them a call.
Colleen H
12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
ariezel erandio
21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
Aliya H
12:11 04 Jun 22
Jerry is a very patient person, he answered all my questions and made this experience so smooth and easy for me. I was not sure what to expect but dealing with him made me feel so much better. He sure knows what he is doing and how to put people at ease for sure (should have done this long ago). I recommend him to anyone I am so glad I had him on my side and now to do my part. Thanks Jerry ur greatPattie
Patty Murphy
21:34 18 May 22
Rhoda Lewis helped me achieve a fresh start two and half years ago! She was very professional with a very warm, caring personality! I emailed her today with a question and she responded quickly. She's great at her chosen profession!!
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01:24 11 May 22
Nothing but good things to say about Jackie. She was so nice and so understand and everything was so quick and easy. In a matter of a week, there was the solution that I never thought was possible. Thank you so very much for everything that you have done. ❤️❤️❤️
Cassandra Keenan
21:05 10 May 22
I was in a lot of debt and stress, Jackie Stanley with David Sklar & Associates was very professional, and extremely helpful with getting out of debt. I should of did this sooner, they take the all the weight and stress of a persons shoulders, amazing team at David Sklar & Associates!!
Hubert Z
03:08 10 May 22
Jackie helped me out during a really tough time and she made the entire process very easy and painless. I highly recommend reaching out to her if you find yourself in any financial trouble. You won’t be disappointed!
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02:42 10 May 22
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