Let us show you your options. Our consultations can be performed in-person or by phone, they are absolutely free and completely confidential.
Dispute with the landlord was the straw that broke the camel’s back
I was running a small cell phone repair shop and had committed to a five-year lease for the store. After the first year I was barely breaking even, and in the second year I was losing money. By the third year I was behind on taxes because I put all my money back into my business trying to make it grow.
Anyways, by year three I decided I couldn’t do it anymore. The lease was $4,000 per month. I closed up and asked the landlord if there was a concession that could be made on the balance of the lease. They refused – this was a huge property management company. Needless to say they sued me for $48,000, which was the balance on the lease. I couldn’t afford a lawyer to defend myself. This was not small claims court. In the meantime I had moved to a cheaper business location with more traffic and business was booming. They won and proceeded to come after me – freezing my bank account with all my money in it!!
I was already on my last legs with the CRA, having made a payment arrangement on the tax debt I accumulated, so that payment bounced. This led me to want to speak with a financial consultant about what options were available to me.
A Consumer Proposal ended up being the right option. I was able to settle all of my debts. The Consumer Proposal forced the bank to unfreeze my account and return my money to me. The judgement and tax debt were included in the proposal and I have been able to put this terrible part of my life behind me.