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. 

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So over the past few weeks I’ve had multiple contact with Christine. She was simply amazing. She helped me understand my debt and what options I had available to help relive some of my debt stress that’s affecting my own well being and my family.David Sklar and associates is simply put an amazing company and I highly recommend them to absolutely anybody needing help!
Adam Bertrand
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Christine Sylver was very helpful to my situation. No question asked, she went above and beyond just to give me the options that I need to solve my problems. She explained and made me understand my options. Thank you Christine! Everything was done in a week. Regards, to Richard Sklar for explaining everything further to me. 😊
Kris
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I was blown away by how kind and empathetic Christine and David were. I came into the process expecting to feel embarrassed, but they were so helpful and unquestionably supportive, they made the whole experience a positive thing. On top of that, Christine found a solution for me that was better than I ever could have imagined. I highly recommend Christine, David, and colleagues to anyone.
Mary M
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Christine Sylver has been very efficient in working with me in all aspects toward developing a very favourable consumer proposal which meets my financial budgeting very nicely. She also exhibited a very positive pro client attitude and was every pleasant to communicate with. Richard Sklar also demonstrated a very positive pro client attitude in explaining in detail all aspects. All great!!
Rob Hultgren
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Dealing with Christine was a real pleasure.She was very understanding professional and knowledgeable she answered all my questions.I left feeling relieved a big burden was lifted from my shoulders
John Horan
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Very happy I got in touch with Jackie! She has been a great help and a pleasure to work with! I highly recommend Jackie if you need help getting out of financial debt.
Hailey Cascagnette
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I had the pleasure of working with Jackie and she made the experience very easy and was very honest which I appreciated as I was extremely nervous to go through with the process. Any questions or concerns I've had after our meetings were answered no problems and although it's been a few weeks I can honestly say I've never felt so stress-free. Very thankful for Jackie.
Cassandra Arevalo
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Very considerate of how people can sometimes make mistakes and need help to get things back on track. Great team of people. Thanks to Jacqueline for all her help.
Kevin Chase
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My mother told me about this firm because they helped resolve her situation nearly 25 years ago. I had the pleasure of working with Christine Sylver. I should’ve done this years ago but I am where I am and it is what it is. Extremely courteous, professional and understanding. I hope to never need their services again but they would be my first call! A+
Patrick Martel
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Jerry was extremely thorough and ensured that as a client, I understood all of my options and their repercussions. He offered his professional advice best suited for my situation and he is amazing at his work. Thank you Jerry! :)
Stephanie Belanger
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