Bankruptcy Is A New Beginning In Your Life

free from debt

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Bankruptcy is a tool that’s available to honest debtors who have taken on more debt than they can pay. It will help you take back control of your financial life and start rebuilding your credit history, your financial security, and your ability to qualify for major loans like a mortgage, car loan, or business loan in the future.

Don’t let the stigma around bankruptcy prevent you from making a smart decision when it comes to a debt you can’t afford to pay back.

There are some common myths about bankruptcy that prevent many people from exploring their options earlier. Here’s the truth about filing for personal bankruptcy in Ontario today:

  • You will not lose your job. In fact, there is no reason for your employer to know that you have filed for bankruptcy. Only a narrow handful of professions are affected by bankruptcy, mostly those in finance.
  • It’s unlikely that you will lose your home. This is the number one concern we hear from clients considering bankruptcy at David Sklar & Associates. There is some equity exemption on your principal home which helps, but if there is more equity than the exemption, many times a payment arrangement can be made so that you can keep your house.
  • Paying off your debt on your own is not necessarily a better option. For many, it’s simply not possible, but the attitude that you should go to extremes to pay off your debt no matter what can make your situation worse, such as with a high-interest debt consolidation loan. Bankruptcy is a serious financial decision, but sometimes it’s the right one. In a bankruptcy, you do something, but it is a significant reduction from what you owe.

If there’s one thing we hear at David Sklar & Associates all the time, it’s that our clients wish they had done it sooner.

There are two conditions to be eligible for bankruptcy:

  1. You owe at least $1,000 in unsecured debt, which includes credit card debt, utility bills, medical bills, money owed to a merchant or service provider, payday loans, lines of credit, or any loan that’s been extended without collateral. A higher risk for lenders, it almost tends to come with higher interest rates.
  2. You are insolvent, which means that given the size of your debt and your income, you can’t reasonably be expected to pay it back. A consultation at David Sklar & Associates in west Toronto or any of our other 5 GTA locations can help you determine your eligibility.

A bankruptcy trustee, now known as a Licensed Insolvency Trustee, is the only professional who can help you determine if you are insolvent. They are also the only professionals who can offer personal bankruptcy services and real debt relief.

Filing for bankruptcy is not a personal shortcoming. It’s a way for honest debtors to take back control of their finances. Often people wind up in debt they can’t afford to repay because of circumstances outside of their control. If you’re ready to get your financial life back on track, we offer financial services in west Toronto including bankruptcy and consumer proposals.

Your bankruptcy trustee is ready to walk you through the insolvency process. Start with a consultation and learn about the different options available to you. This is your chance to start over again.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 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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Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
I was a reck talking yo Jason Sklar was easy comfortable he explained everything and put my mind at ease I would recommend the team od sklar to everyone. I have already talked to my ci workers about them
kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
Jerry was wonderful and provided superb service. He is very knowledgeable, trustworthy, and made an intimidating and shame filled time in my life stress free. I hesitated for a long time to take the next step, but Jerry answered all questions, was patient and made the process effortless. I am eternally grateful, and highly recommend Jerry’s services.
M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
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