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 was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
Recently dealt with Christine at David Sklar & Assoc. and worked out a Consumer Proposal to put forth to my creditors for my Credit Card debt. She was very courteous, professional and put me at ease with a proposal that I can afford on a monthly basis, which will eliminate my debit in a reasonable timeframe. I would recommend Christine and this firm in a heartbeat. Very happy with the service and attention I got !!
Patrick Kovanchak
01:59 15 Nov 22
Excellent customer service. Special thanks to Olga for being prompt and helpful. She’s a star. Bibi is helpful as well. Great agency to work with.
Fady Tadros
19:28 14 Nov 22
After seeing your commercial play on CP24, I realized that it addressed all the questions and concerns I had about my financial situation. It all started with my one phone call to your office. I had the extreme pleasure of working with Cori Naron at your St. Clair West office in September 2022. She took the time to explain what my options were knowing that it was a very stressful situation with my debt load. She made me feel at ease with my decision to file a consumer proposal and outlined the benefits to me. She is thorough and her attention to detail is outstanding. While it takes a little while to reap the benefits of making this hard decision, she took the time to reassure me that it was in my best financial interest. Well done David Sklar & Associates for having such an amazing representative at your company and for allowing me to "get a fresh start"!
David
14:31 14 Nov 22
Very highly perfection individual, well executed and greatly knowledgeable in his work, which guided me me the right decisions making opportunities. Thank you.Sincerely, Peter Romasz
Peter Romasz
20:18 13 Nov 22
Trina Powell was very helpful and made the process very easy. Thanks again for all your help.
Jennifer Hager
17:59 06 Nov 22
Jerry is a caring, trustful, knowledgeable and competent Sklar associate. He understood my needs and quickly went to work on my behalf. Ever indebted to David Sklar and Associates and especially to Jerry for his professionalism and caring approach.
David Craig
19:31 31 Oct 22
Jerry Janiec is very knowledgeable and very helpful everything he explained to me was straightforward and very easy to understand. I'm very pleased to be working with Jerry to become debt free. I will definitely be recommending to any friends or colleagues your services.Thank you again for helping me get on the road to be debt free. 5 Stars is well deserved.
Christopher Rakobowchuk
17:41 27 Oct 22
Hi there! I am very glad to met this company, especially Jackie Stanley. Thanks for her great work and help me to save my money! Very appreciable!
Mehri Agil
02:43 26 Oct 22
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