Stop Shopping Debt From Ruining Your Life

Table of Contents

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!

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
DS david skalr icon

Book your free consultation.

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.

Contact Us