Mary: Small Mississauga Bankruptcy Claim

‘Mary’ a Case History:
Small Mississauga Bankruptcy – Big Relief

 

Some of the case histories we present in these blogs are about people who are hundreds of thousands of dollars in debt. However, many of the people who file for bankruptcy owe much less. One such person was “Mary” (not her real name).

Mary lived in Mississauga, was in her late 30s and receiving monthly ODSP (Ontario Disability Support Program) payments of $1445 when she first came to David Sklar & Associates. In addition to paying for rent, food and the basics of life – she was trying to pay off two credit cards that she owed $15,000 on.

Despite her best efforts, she could not make the minimum payments and eventually her credit card debts were sent to collection agents. The aggressive nature of these collection agents, and their flat refusal to accept anything other than full payment, put unbearable stress on Mary.

During Mary’s first meeting at David Sklar & Associates, she spoke with Richard Sklar, Estate Administrator – who discussed her options, and gave her the first ray of hope she had had in years. He explained to her that she could file for a Consumer Proposal or she could file for Bankruptcy. No matter which of those two options she choose, the collection agents would have to stop contacting her once the process was filed. Mary’s reaction was relief, she had been trying for so long to deal with her situation without any hope, and now she could see the possibility of a better life.

After reviewing her finances with Richard, Mary decided to file for Bankruptcy, as she did not have enough income to be able to commit to a Consumer Proposal. Although a Bankruptcy would be on her credit history for seven years after she was discharged, Mary felt her credit rating was already so poor, it would not make much of a difference.

Mary was pleased to learn that because she did not have surplus income and it was her first Bankruptcy, her Bankruptcy would only last for nine months, and she would not be required to pay more than the base monthly fees.

During her discussions with Richard, she learned that once she was discharged, there were things she could do to rebuild her credit rating.

Now confident of a brighter financial future, Mary’s ‘small’ bankruptcy gave her the life-affirming relief she so desperately needed.

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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Ready to live debt free?

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.
Amanda Frappier
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
arny raposo
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:)
Denise Simpson
15:17 09 Sep 21
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