Consolidate Debt Toronto – Options

Debt-Consolidation

Debt Consolidation in Toronto – Options to Consider

If you are one of the many people in the Toronto area looking for a way to consolidate debt into one affordable payment – there are several types of debt consolidation that may be available to you.

These consolidation options depend on a number of factors, the most important of which is your current financial situation.

Note: secured debts, such as mortgages, are not included in debt consolidation. Debt consolidation is used for unsecured debts such as credit cards, payday loans, etc.

Debt Consolidation Solutions for Solvent Debtors

If you are solvent, that is, you have the money or assets to pay all your debts in an orderly fashion, you may be able to consolidate debts using:

  • Home Equity Loans – if you have equity in your home, and you qualify for a loan – a home equity loan might enable you to pay off your other debts (such as credit cards) and end up with one lower monthly payment.
  • Personal Loans – if you qualify for a personal loan that has a lower interest rate that your unsecured debt, you may be able to pay off your debts and end up with a lower monthly payment.
  • Lines of Credits – if you qualify for a line of credit, you may be able to pay off your debts and reduce your monthly payments.
  • Debt Management Programs – offered through non-profit credit counsellors, these programs involve professional counsellors who, if you qualify, will negotiate with your creditors to reduced the interest and fees being charged and set up one monthly payment to be distributed to your creditors. These plans are not legally binding on your creditors and not all of your creditors may agree to them.

Debt Consolidation Solutions for Insolvent Debtors

If you are insolvent – that is you do not have the money or assets to pay your debts, you may be eligible for a Consumer Proposal which will:

  • Consolidate debts (unsecured) into one monthly payment
  • Significantly reduce the total amount owing
  • Stop all interest charges
  • Stop all collection efforts (phone calls, legal actions, garnishees, etc)

In addition, Consumer Proposals are legally binding on all of your unsecured creditors.

Under the Bankruptcy and Insolvency Act, Consumer Proposals can only be filed and administered by Licensed Trustees in Bankruptcy, such as David Sklar & Associates, Inc.

If you live in the Toronto area, and are considering consolidating your debts, we offer a Free consultation with David Sklar & Associates, Inc – at all of our six convenient locations. During your consultation, our Licensed Debt Professionals™ will review your financial situation and discuss all of your debt consolidation options. Call us at 416-498-9200 to book your appointment.

 

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt and live in the Toronto area, call us at 416-498-9200 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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Ready to live debt free?

The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
Nilda H.
20:18 16 Jun 22
Very helpful and friendly! I am more than satisfied with my experience here. And more than happy with the outcome! Would definitely recommend .
Peggy Bulger
15:10 14 Jun 22
Jerry at David SKLAR helped me thoroughly understand my options and made me feel at ease. If you are looking at this type of service/help, I 100% recommend you give them a call.
Colleen H
12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
ariezel erandio
21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
Aliya H
12:11 04 Jun 22
Jerry is a very patient person, he answered all my questions and made this experience so smooth and easy for me. I was not sure what to expect but dealing with him made me feel so much better. He sure knows what he is doing and how to put people at ease for sure (should have done this long ago). I recommend him to anyone I am so glad I had him on my side and now to do my part. Thanks Jerry ur greatPattie
Patty Murphy
21:34 18 May 22
Rhoda Lewis helped me achieve a fresh start two and half years ago! She was very professional with a very warm, caring personality! I emailed her today with a question and she responded quickly. She's great at her chosen profession!!
Debbie Livingston
01:24 11 May 22
Nothing but good things to say about Jackie. She was so nice and so understand and everything was so quick and easy. In a matter of a week, there was the solution that I never thought was possible. Thank you so very much for everything that you have done. ❤️❤️❤️
Cassandra Keenan
21:05 10 May 22
I was in a lot of debt and stress, Jackie Stanley with David Sklar & Associates was very professional, and extremely helpful with getting out of debt. I should of did this sooner, they take the all the weight and stress of a persons shoulders, amazing team at David Sklar & Associates!!
Hubert Z
03:08 10 May 22
Jackie helped me out during a really tough time and she made the entire process very easy and painless. I highly recommend reaching out to her if you find yourself in any financial trouble. You won’t be disappointed!
prettylush 13
02:42 10 May 22
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