Debt & Insolvency – Seniors in Ontario

Table of Contents

Debt & Insolvency Rates – Seniors in Ontario

It is not only heart breaking to think of people starting their retirement years in debt, it is frightening.

Beyond the added stress of being in debt at a time in life when the ability to service that debt is often reduced – the Seniors in Ontario appear to be filing bankruptcies and proposals at increasing rates.

According to the Superintendent of Bankruptcy, in Ontario in 2011, 8.2% of the 50,460 people who declared insolvency (filed either bankruptcy or a proposal) were 65 years or older.

That equates to approximately 4,137 Seniors in Ontario, in 2011.

Unfortunately, in the last four years of the Superintendent’s statistics – 2008 to 2011 – the percentage of filing insolvents who were Seniors, increased steadily from 5.5% to 8.2%.

debt-insolvency-ontario-seniors-rates-2008-2011chart

Are Insolvent Seniors Hopeless?

Of course not.

Many of the Seniors we work with, are able to get out of debt and get on with enjoying their ‘golden years’.

Removing the burden of debt and debt collectors, goes a long way to making retirement a better time of life.

What do the Increasing Rates Mean?

It may be a symptom of the financial troubles since 2008, or of the increasing rates of Canadian household debt, or of the lessening stigma of insolvency among Seniors.

Whatever the cause, these numbers can serve as a warning to everyone in Ontario:

 

Get Out of Debt – Now

Tomorrow Really Does Come

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!

I am very pleased with the experience with your company. Great customer service and very professional. They made me feel like dealing with caring and friendly people. Jackie is a sweet lady. All of them very helpful.
Carolina Marroquin
1708815208
I am very excited for the helpful service I receive from David sklar &Associates Inc ! My experience with coronation she is a professional and skill person! We'll done ✔ thank you very much, Gw
garfield wallace
1708730999
Great and friendly staff. They went out of their way to help me with the process. David Sklar and Associates are more then professionals. Christine sylver helped me with every steps, everytime I asked for more help she was always there for me with a smile. Very professional and patient. I want to thank Christine Sylver for everything she did to help me through this process and by giving me a new start.
ray pat
1708550360
I was so nervous to go and then i met trina beautiful compassionate understanding trina how lucky for me what a professional thank you thank you
Penelope Mather
1708303088
It was easy to get everything started and I am happy that I choose you, thank you.
Marina Granado
1707942981
I came in with a lot of anxietyChristine SylverHernee Templonuevogave me the confidence I needed
George Carvalho
1707837852
A great place to find out the best way to remove your debt. I discussed my problem with a with a fantastic lady who's named Grace. This lady showed me a couple of ways to lower my debt and I chose one. Thanks to Grace one day I will be out of debt, but until then my spending without cause has come to an end.To the staff and especially Grace of David Sklar and Associates thank you.Bob Barnesi will be one day out of debt
Robert Barnes
1707781618
A wonderful experience with a very depressing financial situation.Cori is easy to talk to and understand, with what she is describing.
Verble Daniels
1707699079
The staff at David Sklar are absolutely life changing and phenomenal people to work with. They are a well dedicated team whose personal mission is to truly help you turn your life around. Don’t be afraid to call them. Don’t be afraid to be honest to ask for the help you need. Rest assured no matter your debt load they will assist without judgement and deliver with compassion the best way forward to legally seal your debts and give you a real chance again at life. I highly recommend their services. They changed my life. They will gladly help you too. My personal consultant Trina Powell is an incredible, smart, and extremely supportive ally. But know you’re in good hands no matter who they assign to help you. Change your life today and pick up the phone and call them you’ll only be sorry you waited so long.
Kelly Silke
1707344543
This was an is an excellent experience for me because I am now able to retire comfortable in five years an debt free. Life seems to now begin. I should have done this earlier. But I did not have a company to do a consumer proposal with that I trust. Thank you for saving me.
Carilyn HoseinAdams
1707147259
js_loader
DS david skalr icon

Book your free consultation.

Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

Contact Us