Coping with Crushing Debt After Fraud – June’s Story

June, a senior, faced a heartbreaking situation when she fell victim to a cruel scam. She was told she had won a large sum of money, but in order to claim her prize, she was required to pay substantial lawyer fees. The scammers further manipulated her, convincing her to provide them with cell phones and expensive plans, claiming it was necessary to “conduct business” on her behalf. By the time June realized what had happened, she had been swindled out of more than $150,000.

Distraught and overwhelmed, June filed a police report, hoping for justice and the recovery of her stolen funds. Unfortunately, despite the authorities’ best efforts, there was nothing they could do to retrieve the money she had lost. June, left with an enormous debt she never truly owed, felt devastated and unsure of what to do next.

Facing this impossible financial burden, she knew her only option was to file for insolvency. With her life turned upside down, June reached out to Smythe Insolvency, booking a free consultation to explore her options. During the meeting, a Licensed Insolvency Trustee listened carefully and compassionately as she shared her story. Together, they discussed the available paths to relieve her debt. The trustee explained both bankruptcy and consumer proposals, offering a clear and supportive explanation of each option.

After thoughtful consideration, June and her trustee decided that a consumer proposal would be the best route to eliminate her debt. Though she is still working through the emotional toll of being defrauded, June now feels a sense of relief knowing that her financial burden is being lifted. The crushing weight of her debt has been addressed, allowing her to focus on rebuilding her sense of security and peace of mind.

At Smythe Insolvency, we understand how vulnerable situations like June’s can leave individuals feeling helpless, but there is always hope. If you or someone you know has been affected by fraud or is struggling with overwhelming debt, we’re here to help.