Consolidate Debt Toronto – Options

Debt-Consolidation

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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, 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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