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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Very processional and understanding of my situation. Thanks to all your team.
Luc Valade
1695320109
Jennifer Norton's exceptional assistance with my consumer proposal was life-changing. Her professionalism, expertise, and dedication were evident from the start. Jennifer's thorough explanations and attention to detail created a tailored proposal that set a clear path to financial freedom. She went above and beyond, advocating for my best interests and providing invaluable support. Thanks to Jennifer, I'm on track to a stress-free financial future. I wholeheartedly recommend her – she's not just a financial expert; she's a life-changer. Thank you, Jennifer!
Thomas
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They made a difficult situation, easy thank you.
Ray Barkley
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I had a great experience with Christine from David Sklar & associates. Very professional, and easy to get through. Thank you
fukinwith doug
1694804075
Great customer service and a smooth process to get your finances on track. Informative and thorough.
Adrian Downey
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From the moment I sat down in the office, I felt welcome and at ease. Grace Cuffaro was both friendly and highly informative. She is extremely knowledgeable and answered all of my questions in detail, making sure I understood before moving on. I was reassured throughout the process that I was making the right decision and that it was not uncommon nor anything to be ashamed of. I didn't expect my appointments to be such positive experiences, but that's exactly what they've been!
P Bains
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I was in a tough financial position and found myself searching for relief. I came across David Sklar & Associates page when doing my research on financial advice. The reviews were amazing, but I was concern because I didn’t know what to expect. I made the decision to set up a consultation and had the pleasure to meet with Jennifer Norton. Right from the beginning, she was attentive, knowledgeable, and pleasant to meet with. The experience was painless and very educational. Jennifer made sure I understood my choices, answered my questions, and concerns promptly, in person, over the phone and via email. I’ve been working with Jennifer for a couple months now and I am pleased that Jennifer is the manager handling my file. I would and have recommend Jennifer Norton, David Sklar & Associates to anyone in need of direction regarding finances.
A.L Thompson-Lawrence
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I had my first meeting with Jennifer, she was really understanding and extremely helpful, and got everything done in a timely manner.
Tamas Wint
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Jennifer Norton has been the most helpful throughout this truly embarrassing situation that I find myself in. She is informative, understanding, and there is absolutely no judgment. She has handled everything in a very professional and respectful manner and I am SO glad that I have them on my side. Definitely a huge weight off my shoulders.
Jody T
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Rhoda, Jerry, and the entire David Sklar & Associates Staff were very professional and were great to work with. They taught me a lot regarding financing and I would recommend them to anyone facing financial troubles as well. Rafael L
Medanun
1693930422
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