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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I can't praise Cori enough from David Sklar & Associates. Cori's acceptance and understanding of the diverse needs and concerns of her clients shines through with zero judgement. She made this process smooth and relieved much of my stress and anxiety around debt. Thank you!
Karen Swan
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My husband worked with Chen Siga, he walked us through our options and then through the process of getting everything done. Everyone we dealt with was very helpful. Overall a wonder experience, we are so glad we contacted them and got the help we needed.
Amanda Thomas
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I have been surviving on paycheck-to-paycheck basis and could not go any further because the lending interests just accumulated beyond what I can afford. Fortunately, a good friend recommended Grace Cuffaro from David Sklar & Assoc. and I finally got to settle my financial obligations in a reasonable way. Don't go anywhere else; ignore those financial brokers and social media ads who just want more money from you - go directly to the people who can really save you from drowning in debt.
REX ADAME Southern Ontario Canada
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I recently had the privilege of working with Trina at David Sklar & Associates, and I cannot praise her enough. Trina’s commitment to her clients goes above and beyond the norm. Here’s why she stands out:Incredible Knowledge: Trina is well-informed and deeply understands her job. Her expertise shines through as she navigates complex processes effortlessly.Client-Centric Approach: Trina doesn’t just follow procedures; she genuinely cares about her clients. She takes the time to listen, empathize, and tailor solutions to their unique situations.Clear Communication: Explaining financial matters can be daunting, but Trina excels at breaking down each step of the process. Her clarity and patience make even the most intricate details understandable.Availability and Accommodation: Trina’s dedication extends beyond office hours. She accommodates last-minute changes and ensures her clients feel supported throughout their journey.In summary, Trina is a gem in the world of customer service. If you’re seeking debt resolution, don’t hesitate to reach out to David Sklar & Associates—and ask for Trina. You’ll be in capable, caring hands.Thank you, Trina, for making a difference!
Darren Augustin
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Jerry Janiec is very helpful and professional. Thank you.
Urszula Kazula
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Unbelievable people who just want to help and I'm thankful
David Siria
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Jackie is awesome!Thank you for pointing me in the right direction.
Cindy McCormick
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Professional, knowledgeable and people oriented. Unfortunately for me, I had to ask for their assistance a few time and never regret about their service. 5 out of 5. Highly recommended.
Alexander Mikhyeyev
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Jackie Stanley and her assistant Sarah have been so helpful with such an important matter to me and my family. thank you for all your help through this hard period of our lives.
Assia Tiholova
1712282632
Trina and her staff were great, excellent job explaining on what will be required of me regarding my situation. Very helpful staff. Would highly recommend Trina and her staff.
Randy Turner
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