Break Free of the Paycheque-to-Paycheque-Trap

Breaking Out of the Paycheck-to-Paycheck Trap

According to a study done by the Canadian Payroll Association in the Fall of 2012:

  • 52% of respondents from Ontario indicated that they were living paycheque to paycheque.

We often see the stress and damage that living with this kind of balancing act can cause. Not only can finances be ruined, huge debts incurred, and family security put at risk – relationships can be destroyed.

If you are caught in the paycheque-to-paycheck trap – it can seem like there is no way out. Especially if you are carrying an excessive debt load.

Some people are able to break out of this dangerous pattern by budgeting, cutting expenses, taking a second job, and not using credit.

But for many, even with a job, their debt is too much to deal with. They are simply unable to repay all their debt and get out of the paycheck-to-paycheque trap.

Getting Help

The Canadian government recognizes that there are times when ‘honest but unfortunate’ people (debtors) are simply too far in debt to ever reasonably get out of debt. To help people caught in this situation, they have set up the bankruptcy and consumer proposal processes.

Most people are familiar with bankruptcy – but many have not heard of consumer proposals.

In Ontario, only licensed trustees in bankruptcy, like David Sklar & Associates, are allowed to file and administer consumer proposals.

Simply put, a consumer proposal enables qualified people, using the services of a Licensed Insolvency Trustee, to set up a legally-binding arrangement with their unsecured creditors to pay off a portion of their debt in exchange for release from their unsecured debts. Note: there are some unsecured debts that cannot be included in a proposal.

These agreements, once accepted by the creditors, usually result in manageable monthly payments spread out over a period of up to 5 years. In exchange, the assets of the person filing are protected from the unsecured creditors, and the unsecured creditors agree to stop all collections efforts and to stop interest charges.

To help the debtor avoid future problems with debt – part of the proposal requires them to attend credit counselling, where they are taught the skills to build a more financially secure future for themselves and their family.

Getting Help in the Toronto Area

If you live in the Toronto area and cannot find a way out of your excessive debt load – you are welcome to call us at 416-498-9200 for a free consultation. During your consultation, our caring, licensed professionals will review your finances and discuss all of your options for getting out of debt and getting on with your life.

 

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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Ready to live debt free?

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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