Susan: Consumer Proposal Recovery & Unsecured Debt

Table of Contents

‘Susan’ a Case History: Consumer Proposal – Finding Help in Toronto

‘Susan’ (not her name), was a bright, hard-working professional who was moving up the corporate ladder. After university, she had moved to Toronto where she was hired by the company she most wanted to work for. After six years with her firm, Susan was in good professional and financial condition.

Then everything changed. She became a drug addict. In a few months, she had nothing left but debt. She had lost her job, her apartment, her car and her future.

Hitting bottom was hard on Susan, but it convinced her to turn her life around and get the help she needed to deal with her drug addiction. After several months of intensive treatment and counselling, she was ready to begin rebuilding her life.

Susan approached her former employer and asked for a job. Because of her excellent performance before the drug issues surfaced, they decided to take a chance on her and gave her a job. It was at a much lower level – and it would take time for her to re-earn their total trust, but it was an opportunity that Susan gratefully seized.

She then had to clean up her financial mess. She now owed nearly $20,000 in unsecured loans, credit cards, student loans and taxes. With her new lower income of $1,750 per month, she realized she simply could not repay her debt.

Susan called David Sklar & Associates (DSAI) and booked a free consultation to see what could be done about her debts.

*** **

During her consultation at DSAI, Susan met with Trina Powell, Estate Administrator. They reviewed her financial situation in detail.

Susan had:

No Assets

No Secured Loans

Unsecured Debts:

 Credit Cards Totaling$5,500
 Unsecured Bank Loans Totaling$6,000
 Payday Loans Totaling$2,300
 Student Loans Totaling$990
 Canada Revenue Agency$5,000
 Total Unsecured Debt:$19,790

Income of $1,750/mo

Trina and Susan reviewed all of her options and while Susan could have filed for bankruptcy, she decided to go with a Consumer Proposal. She felt it was important for her recovery, to make as much of an effort as possible – to pay back her debt.

Fortunately, her student loans were over 7 years old – which meant they could be included with her Proposal.

DSAI submitted Susan’s Consumer Proposal to her creditors (including Canada Revenue Agency) and it was accepted. Under the terms of the Proposal, Susan would pay $9,000 over a 60-month period at $150/mo.

Susan continues to honour the terms of her Proposal, with monthly payments of $150 and by attending credit counselling sessions. At work, Susan is slowly regaining the trust of her company and co-workers. Her recovery is still the most important part of her life – and she is re-building her life, one day at a time.

To protect our clients’ privacy, details of this case have been altered.

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
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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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