Stop Shopping Debt From Ruining Your Life

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Do your credit card bills just keep growing? Shopping on credit is a major contribution to rising household debt levels. Every time you carry a credit card balance, it costs you more money.

Using a credit card is not always a bad idea, but it can encourage you to overspend. Shopping with a credit card can help you build a credit rating or keep track of your purchases at the end of the month, but only if you pay the full amount when it comes due. Carrying a balance is a quick way to make your Black Friday bargains more expensive.

Take this example: you find a deluxe, 4K Smart TV that’s 50% off for only $1,000 – except you’ve already spent your holiday budget, so it’s all going on credit for now. You make the minimum $30 payment on your first bill, but by the next bill, you’ve generated $16 in interest. Now you have to pay that plus your minimum payment on the principal. At that rate, it will take you years to pay for the TV, and interest will double the cost.

Keeping up with interest payments eats away at your ability to save for the future. Add mortgage payments, car payments, and emergency expenses, and you can find yourself drowning in debt. That’s when it’s time to get help from David Sklar & Associates.

credit card debt

Before you start holiday shopping, make a budget using the money you already have, not money you plan to have in the future. But what do you do if you’ve already overspent in the past? It may be time to ask, what is a consumer proposal and how can it provide debt relief. When you’re not sure how to stop the cycle of debt, a bankruptcy trustee, now known as a Licensed Insolvency Trustee, can help.

As bankruptcy trustees, we file consumer proposals and bankruptcies. In Canada, there’s usually no need to involve a lawyer. A consumer proposal provides debt relief to people who are insolvent. When you’re unable to pay your existing debt, an appointment with a bankruptcy trustee at David Sklar & Associates is an opportunity to have your questions answered.

At your first, no-charge appointment, a bankruptcy trustee will help you find out:

  • Whether or not you are insolvent and qualify for a bankruptcy or a consumer proposal.
  • How a bankruptcy vs consumer proposal fits your financial situation.
  • How much you might be able to reduce your debt in either a bankruptcy or a consumer proposal.
  • How the consumer proposal process or a bankruptcy will affect your credit score in the future.
  • How you can afford to pay off your debt.

Shopping debt can quickly spiral out of control. Once they’re debt-free, many people do things like avoiding the mall completely. Smart financial planning and trimming your expenses (such as going to more affordable grocery stores) can all help reduce shopping debt. When it’s too much to find a way out, contact a bankruptcy trustee.

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 was a little nervous going into my consumer proposal with David Sklar & Associates as I had a horrible experience attempting to file with a different group.Following the first correspondence, I immediately felt much more relaxed and confident in my decision.Beatriz was incredible! I feel so lucky to have had her working with me.She was friendly and kind, professional, patient, considerate, and caring. I felt no judgment in anyway. Honestly, speaking with her regarding my debt felt like I was speaking with a family member – just very easy to discuss how I ended up in my financial situation and being met with understanding, no judgment.Mark was also very kind and made sure that I understood what was discussed and was open to going over it again if needed prior to signing.David Sklar & Associates is the team you want handling and assisting you with your debt. I have only positive things to say about them and will 100% recommend them to anyone if the situation ever arises.
ally.
1701530179
Helped me with filing for bankruptcy and getting a fresh start and made the whole process seamless and easy.
Sameer Kamal
1701361659
I would like to say "Thank you very much" for David Sklar team that handled my case smoothly and without any issues! I am glad that I ve got consultation by Jerry Janiec. He explained me all process in details and told me right away what options I do have to resolve financial difficulties. I ve proceed with consumer Proposal option and entire process was very smooth. Jerry took care of my case and gave me personal recommendations for future! Thank you very much Jerry and Hernee for your help and really take care of your clients!
Alexander Arepyev
1701306224
Very knowledgeable, helpful and fast service
Anthony Mcfeat
1701299046
I am so delighted to have found this company. They are the best. Everyone in the office is very nice never to busy to assist you. Thank you David Sklar and Shirley and associates for being you. 😊🌺😊
Deborah
1701263894
Trina was amazing and quick. No judgement was made and they all made me feel I made the right decision. Would highly recommend them
Crystal Minaker
1701222756
Trina was very easy to work with. Any questions I had were answered promptly. What seemed like a complicated process was explained in a clear manner that wasn't at all intimidating. It made for a more comfortable experience during a turbulent time.
Eldon Aubie
1701134421
Jackie is very professional...I would recommend David Sklar to anybody especially knowing how understanding they are.
Kimberley Lyder-Niles
1700968057
I had Shirley and Kim take care of my finances. From the very first moment I spoke with Shirley I could sense how caring, professional and patient she was. She was also very understanding with my lack of financial knowledge and never made me feel dumb as some other companies have.Her and Kim were always very quick to respond to emails, always available if I called and answered my abundance of questions in such detail that I now believe I have a thorough understanding of how finances work. I am hopeful about my fresh financial start and very grateful I had the privilege of meeting and working with these two beautiful women.I also spoke briefly with Richard over zoom and he to was extremely friendly, patient and made sure I was well taken care of.I could not recommend David Sklar and Associates more. Thank you again.
Shayleen Muzi
1700875951
Good professional team! Jennifer is the best, helped me through everything and answered all my questions. Made the process easy! Would recommend Jennifer and the team at David Skylar.
gary round
1700868378
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