Break Free of the Paycheque-to-Paycheque-Trap

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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, call us at 1-844-962-9200 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. 

Share This!

Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
I was a reck talking yo Jason Sklar was easy comfortable he explained everything and put my mind at ease I would recommend the team od sklar to everyone. I have already talked to my ci workers about them
kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
Jerry was wonderful and provided superb service. He is very knowledgeable, trustworthy, and made an intimidating and shame filled time in my life stress free. I hesitated for a long time to take the next step, but Jerry answered all questions, was patient and made the process effortless. I am eternally grateful, and highly recommend Jerry’s services.
M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
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
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Call 1-844-962-9200 or fill out the form below.

We know this is stressful, but you’re not alone. It’s going to be okay. 
Book your free consultation today. We’ll do the rest.

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