Susan and Bob: Standing Together, Consumer Proposal in Pickering

Dealing with Disaster

Life had been good to Susan and Bob (not their real names). They had successful carers, three wonderful grown children and a lovely home in Pickering.

And then, it all changed.

At 53 Bob was in a car accident that resulted in a serious spinal injury – requiring extended hospitalization, multiple surgeries and years of therapy.

While Susan was initially able to take time off from work to be with Bob, eventually she had to give up her job and focus full-time on Bob’s recovery.

Bob had insurance, but it was not sufficient to cover all their costs. As a result, during the first 3 years following the accident – they used up their savings, cashed in their RRSPs, took out a second mortgage, ran up an unsecured line of credit, and maxed out their credit cards.

Their adult children stepped in and began paying their mortgages. While Bob and Susan were grateful, they hated being a burden to their children.

Even with the mortgages being paid by the children, Susan and Bob were unable to keep the credit card payments current. They began receiving collection calls that added stress to their already stressful lives – so they decided to see if they should file for bankruptcy.

All three of their children expressed concern over their parents loosing their home (even though there was no equity left in it), and were deeply worried about how declaring bankruptcy would affect their parents’ self esteem. They made it very clear to Bob and Susan that they were able and willing to continue paying the mortgages for as long as it took.

Susan and Bob set up an appointment at David Sklar & Associates to explore their options.

*** ***

They met with Jackie Stanley, an experienced and caring Estate Administrator, who reviewed their finances and options. Bob and Susan were delighted to discover that they might be able to file a consumer proposal, which, if accepted, would stop the collection calls, enable them to keep their home (as long as the mortgage payments continued to be paid), pay off a portion of their unsecured debt – and avoid bankruptcy.

At the time of the meeting they had no assets beyond the basic exemptions, had a monthly net income of $2,000 from insurance, and had the following unsecured debt:

Credit Cards: $41,850
Line of Credit: $21,500
Total Unsecured Debts: $63,350

They reviewed their options with the trustee and decided to make a consumer proposal to their creditors. They offered to repay a portion of their $63,000 of unsecured debt in 60 monthly payments of $335. Their offer was accepted by their unsecured creditors.

One year into their consumer proposal, Susan was able to return to work and take over the mortgages payments from their children. Bob eventually found part-time work that enabled them to speed up the repayment of the proposal.

Being able to avoid bankruptcy and stop the collection calls, made a major difference to both Susan’s and Bob’s ability to cope and get on with their lives.

To protect our clients’ privacy, aspects of this case study have been altered

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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!
Nilda H.
20:18 16 Jun 22
Very helpful and friendly! I am more than satisfied with my experience here. And more than happy with the outcome! Would definitely recommend .
Peggy Bulger
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!!
Debbie Livingston
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!
prettylush 13
02:42 10 May 22
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