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She is in debt due to cancer, and wants to leave this world with peace of mind

She is in debt due to cancer, and wants to leave this world with peace of mind

Marie-André, 60, is self-employed. When she learns she has stage 4 cancer, her world falls apart. Due to her health condition, she is forced to stop working and finds herself without any income.

At first, Marie-André used her savings to pay basic expenses. Each month she has to pay approximately $1,750 for her rent, groceries and other ongoing expenses. But once she used up all her savings, she had to turn to credit. She is single, and unfortunately she cannot rely on anyone to take care of her and support her financially.

“I can no longer work, and since I don’t have disability insurance, I don’t get any income. As a self-employed worker, I also cannot get employment insurance. “I have taken steps to get social assistance and hope to get it soon,” she explains.

Use food banks

In order to make ends meet, Marie-André used her credit cards. Today she finds herself with an accumulated balance of $14,100. To make matters worse, she owes tax authorities $26,000 in back taxes.

Unable to cover her expenses and suffering from insurmountable debts totaling $41,300, she was forced to turn to food banks and charities.

In an attempt to find a solution to reduce the level of financial stress she was experiencing and be able to focus on her health, she decided to contact a licensed insolvency insurance company.

There is no choice but bankruptcy

Marie-Andrée’s case was handled by Patricia Roy, senior financial recovery advisor at Raymond Chabot. “Above all, she was looking for peace of mind and wanted to be able to leave with peace of mind. In her case, the best solution was bankruptcy,” she says.

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After Marie-André declared bankruptcy twice in the past, the process will be longer and more complicated. “Her bankruptcy will be distributed over 36 months instead of nine months and will not be automatically discharged as in the case of the first bankruptcy. She will have to appear in court to obtain release,” Patricia Roy specifies.

However, once bankruptcy is declared, interest stops accruing and any potential actions by creditors are suspended. All of Marie-Andrée’s debts, including her tax debts, are included in the bankruptcy.

“If she unfortunately dies before the bankruptcy process is complete, in that case, her estate will have the option to reject or accept it,” the advisor specifies. If the estate’s debts are more than its assets, it is possible to assign them to avoid inheriting the deceased’s debts.

Patricia Roy concludes by reminding her that when you’re self-employed, it’s very important to have disability insurance. This will be a great financial help if health problems prevent us from working.

Its financial situation


· Dodge Caravan 2007: $750

Consumer debt:

· Store card: $13,800

· Credit card: $300

· Provincial tax: $22,000

· Federal tax: $4,000

Total debt: $41,300

Monthly income:

· Waiting for social assistance

Total revenue: none

Monthly expenses:

· $1,748 (Including rent, phone, electricity, insurance, groceries, gas, license, registration, etc.)