Helping you get out of Debt (Part Three)

Get out of debt

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In part three of our series on helping you get out of debt, we look at ways to gain extra money per month, knowing when not to spend, and refinancing.

Overtime or Second Job

When money is tight, and your debts are not getting paid off fast enough, consider working extra overtime (if this option is available) or look at getting a second part time job. Using this extra income and focusing it towards paying down the debt will go a long way. Find some options where you can make some extra money per week/month. See what hobbies you can use to your advantage and start a side business. Check with http://www.servicecanada.gc.ca/eng/lifeevents/business.shtml regarding starting a business for some helpful tips.

Knowing when and when not to spend

Tracking all of your expenses each month, to see where all of your money is going is extremely important. This is an important task for you and your partner. When looking back at your expenses and spending patterns for the past few months, this can give you some extra insight into where your money has been going.

See our articles on Follow the money  and breaking bad spending habits . If getting a second job was not a possible option, then going over your spending habits can work towards freeing up enough money that can go towards your debt, and being debt free.

Refinancing

Mortgage refinancing is the procedure of changing your mortgage with a new mortgage, usually with altered terms than your first mortgage. Refinancing your mortgage can be an option for consideration. First you would need to see the penalties involved and calculate if refinancing is a suitable option for your family or not. If refinancing is an option for you, then this can help free up some money, and help you pay down your debts faster.

If the interest rate on the new mortgage is considerably less than the first mortgage, then the homeowner can save substantial money, and thus have a lower monthly payment. You will need to review this option in detail before considering this, including all the advantages and disadvantages.

Talk to Us!

Having overwhelming debt can be crushing at times, and not knowing what to do is common for some. You may be wondering is bankruptcy, a consumer proposal or debt repayment the answer. If you have questions and need professional advice, speak with a qualified Trustee at David Sklar & Associates. Every case is different, and knowing the full facts can help you make a better informed decision for yourself and your family. Call us today to book a free consultation.

Budgeting and Spending Plan

The best way to be in control of your finances is to have a budgeting plan. Know how much money is coming in, and where the money is going.

Not everyone will like making a budget, but it is something that is highly advised to do. Tracking all of your expenses can be very eye opening, and will help you to spot any expenses that can be reduced or cut all together. See our budgeting series for more information on setting up your budget and getting control of your finances.

How to Get More Help

If you have too much debt, dealing with it in a timely manner is advised. The sooner you can be on a path to financial success, the better off you and your family will be in the long run. Along the way you will learn more about managing your money and work towards being debt free.

Getting in touch with us is easy. Just call or use our secure online form and we can set up a free initial consultation.

 

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. 

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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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