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 worked primarily with Christine, who was very friendly and outgoing. She was quick to help me, and explained everything I needed to know very well. She's quick to answer any questions I may have as well. The other members I spoke with were also very kind and jovial, and were happy to help me with anything they could. They made sure my proposal fit within my budget, and got everything going very quickly. I was happy to work with them, and would highly recommend their very friendly service!
Melissa McAllister
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Very processional and understanding of my situation. Thanks to all your team.
Luc Valade
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Jennifer Norton's exceptional assistance with my consumer proposal was life-changing. Her professionalism, expertise, and dedication were evident from the start. Jennifer's thorough explanations and attention to detail created a tailored proposal that set a clear path to financial freedom. She went above and beyond, advocating for my best interests and providing invaluable support. Thanks to Jennifer, I'm on track to a stress-free financial future. I wholeheartedly recommend her – she's not just a financial expert; she's a life-changer. Thank you, Jennifer!
Thomas
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They made a difficult situation, easy thank you.
Ray Barkley
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I had a great experience with Christine from David Sklar & associates. Very professional, and easy to get through. Thank you
fukinwith doug
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Great customer service and a smooth process to get your finances on track. Informative and thorough.
Adrian Downey
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From the moment I sat down in the office, I felt welcome and at ease. Grace Cuffaro was both friendly and highly informative. She is extremely knowledgeable and answered all of my questions in detail, making sure I understood before moving on. I was reassured throughout the process that I was making the right decision and that it was not uncommon nor anything to be ashamed of. I didn't expect my appointments to be such positive experiences, but that's exactly what they've been!
P Bains
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I was in a tough financial position and found myself searching for relief. I came across David Sklar & Associates page when doing my research on financial advice. The reviews were amazing, but I was concern because I didn’t know what to expect. I made the decision to set up a consultation and had the pleasure to meet with Jennifer Norton. Right from the beginning, she was attentive, knowledgeable, and pleasant to meet with. The experience was painless and very educational. Jennifer made sure I understood my choices, answered my questions, and concerns promptly, in person, over the phone and via email. I’ve been working with Jennifer for a couple months now and I am pleased that Jennifer is the manager handling my file. I would and have recommend Jennifer Norton, David Sklar & Associates to anyone in need of direction regarding finances.
A.L Thompson-Lawrence
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I had my first meeting with Jennifer, she was really understanding and extremely helpful, and got everything done in a timely manner.
Tamas Wint
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Jennifer Norton has been the most helpful throughout this truly embarrassing situation that I find myself in. She is informative, understanding, and there is absolutely no judgment. She has handled everything in a very professional and respectful manner and I am SO glad that I have them on my side. Definitely a huge weight off my shoulders.
Jody T
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