Stewart: Gaining Independence with a Consumer Proposal

Table of Contents

Consumer Proposal for an Independent Toronto Man

Stewart (not his real name) at 50, was where he wanted to be in life.

He lived alone (by choice), in a modern two bedroom condo in Toronto that he had bought five years earlier and that would be completely paid for by the time he was 65. His job as a construction labourer, was the type of labour-intensive work he had enjoyed doing all of his working life.

He was a fiercely independent man, who believed in pulling his own weight.

In many ways, Stewart at 56 is a different man.

Coping with a crippling illness, he was forced to sell his condo when he could no longer afford the mortgage, and is now living in government assisted housing. Unable to work at any job because of his illness – his severely reduced income is just over a thousand dollars a month and comes from CPP and ODSP.

But, he is still a fiercely independent man, who wants to pull his own weight.

This independence was evident when he met with Jason Sklar, Estate Administrator for the first time.

During that first meeting Jason and Stewart reviewed his finances:

No Assets

Monthly income $1,050/month (CPP and ODSP)

No Secured Debts

Unsecured Debts:

    • $1,700 to two utilities (Rogers & Ontario Hydro),
    • 3 credit cards at a total of $4,500 and
    • $2,000 in overdraft with his bank.

Stewart was eligible to file for bankruptcy, and it would have been easier for him to do to – but he chose to go with a Consumer Proposal of $100/mo for 5 years. This was not a careless decision, Jason and Stewart carefully reviewed his finances, situation and expenses before making the offer.

Realizing that Stewart did all of his banking with the same bank that held his overdraft, Jason advised Stewart to set up a new account with another bank. That way, his old bank would not be able to put a freeze on his account.

Stewart’s proposal was accepted by his creditors, and while it will be a few years before it is finished – there is every expectation that Stewart will successfully complete his proposal.

The net results of Stewart’s decision to file for a consumer proposal – his creditors will get more money than if he had gone into bankruptcy – but more importantly to Stewart, he is able to show himself that he is basically the same independent man he always was.

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

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I had a great experience with Jerry Janiec and his team at David Sklar and associates. Within a week I was already accepted and filed for bankruptcy and in a few months I will be debt free! It feels like a lot of stress is off my shoulders. Jerry and his team are very friendly, helped me along the way and was there to explain every detail of the process with me. He gave my his card and is just an email/call away if I need any help with paperwork and completing my duties. He is a very patient and kind professional and I am so glad I chose him and this company to help me fix my financial problems. If you need help with a consumer proposal or bankruptcy (like I did) I highly recommend Jerry Janiec and David Sklar and associates!
Lisa Gomez
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Very professional and caring. Cori, explain everything and listened to my situation. If I didn't understand, she will explain it again. I'm glad that I went to David Sklar and Associates for my financial difficulties.
Richard Hong
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Great experience with this company . Especially Jennifer N. communication was amazing and really helped out my situation. Highly recommended her and David S .
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Everything went well. I will update in 5 years
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My experience with Cori was phenomenal. Cori took the time to explain the process thoroughly, listened to my concerns and reassured me. Cori has exceptional people skills and cares about the people she is helping. The experience throughout was professional, kind, warming and inviting.
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A huge thank you to Jackie S and to the David Sklar and Associates team. Steps made easy , Jackie S has been there during the entire process , whether it was through emails or phone calls . I felt acknowledged and respected . I’d recommend David Sklar and Associate at a heart beat !! Cheers , Dennis
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Very happy to talk with grace and she explained my options.Grace is very knowledgeable,friendly,and helpful. She made feel very comfortable,with her help I am on the road to be debt free. She relieved so much stress. I highly recommend them.
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David Sklar & associates is the place to be if you’re looking for help on your debt consolidation. Kudos on their staff Miss Grace Cuffaro who were very patient guiding me on complying all required documents.
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Reduced my stress and gave me a second life. Sincere heartfelt thanks to the team.
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I am very pleased with the experience with your company. Great customer service and very professional. They made me feel like dealing with caring and friendly people. Jackie is a sweet lady. All of them very helpful.
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