Former store owner, 41, still paying off money she owes from her business closure in 2017: “I was absolutely drowning in debt”

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About a year ago, the Hamilton woman got her old job back in Toronto, which pays double what the bakery did, so she commutes there daily and still bakes on holidays for extra income

She and her then-husband, who she describes as “not consistently employed,” moved to Hamilton for a cheaper lifestyle, and she fulfilled a long-time dream of opening a store, selling quirky gifts and collectible toys.

She racked up $90,000 on a line of credit before a new landlord bought the building and jacked the rent, prompting her to shut down her business in 2017. She enlisted an insolvency trustee, who helped arrange a consumer proposal that consolidated her debts and brought the amount she would have to pay down to $50,000, in monthly payments of $323.After her store closed, Babs found work for a cake-decorating YouTube channel, which involved significant travel to trade shows. Then her mother died.

“I’ve never had a dependable partner who was like, ‘I can bring x to the table,’” she said. “This is the first time I have ever just had to take care of myself financially.”

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