Stewart: Gaining Independence with a Consumer Proposal

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.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt and live in the Toronto area, call us at 416-498-9200 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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The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
Nilda H.
20:18 16 Jun 22
Very helpful and friendly! I am more than satisfied with my experience here. And more than happy with the outcome! Would definitely recommend .
Peggy Bulger
15:10 14 Jun 22
Jerry at David SKLAR helped me thoroughly understand my options and made me feel at ease. If you are looking at this type of service/help, I 100% recommend you give them a call.
Colleen H
12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
ariezel erandio
21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
Aliya H
12:11 04 Jun 22
Jerry is a very patient person, he answered all my questions and made this experience so smooth and easy for me. I was not sure what to expect but dealing with him made me feel so much better. He sure knows what he is doing and how to put people at ease for sure (should have done this long ago). I recommend him to anyone I am so glad I had him on my side and now to do my part. Thanks Jerry ur greatPattie
Patty Murphy
21:34 18 May 22
Rhoda Lewis helped me achieve a fresh start two and half years ago! She was very professional with a very warm, caring personality! I emailed her today with a question and she responded quickly. She's great at her chosen profession!!
Debbie Livingston
01:24 11 May 22
Nothing but good things to say about Jackie. She was so nice and so understand and everything was so quick and easy. In a matter of a week, there was the solution that I never thought was possible. Thank you so very much for everything that you have done. ❤️❤️❤️
Cassandra Keenan
21:05 10 May 22
I was in a lot of debt and stress, Jackie Stanley with David Sklar & Associates was very professional, and extremely helpful with getting out of debt. I should of did this sooner, they take the all the weight and stress of a persons shoulders, amazing team at David Sklar & Associates!!
Hubert Z
03:08 10 May 22
Jackie helped me out during a really tough time and she made the entire process very easy and painless. I highly recommend reaching out to her if you find yourself in any financial trouble. You won’t be disappointed!
prettylush 13
02:42 10 May 22
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