Consumer Proposal Ontario

A consumer proposal is the #1 alternative to personal bankruptcy in Ontario
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What is a consumer proposal?

Believe it or not, you can get out of debt in Ontario without declaring personal bankruptcy or resorting to costly debt consolidation loans. The government of Canada offers a little-known debt-relief program, called a consumer proposal. A consumer proposal can reduce your debt by up to 80% through a negotiated settlement with your creditors without interest or penalties. 

Only Licensed Insolvency Trustees (LIT) like us are federally regulated by the government to guide you through the process. We sincerely care about helping you.

You are in a
judgement-free
zone with us!

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David explains the benefits of a consumer proposal

Our Canadian debt relief solution can help you reduce your debt by up to eighty percent. A consumer proposal is the #1 alternative to personal bankruptcy.

Only a licensed insolvency trustee in Canada can legally help you reach an agreement with your creditors.

Here's an example of how a Consumer Proposal works, Imagine you owe:

$100,000

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Your Debts include:
Step 1: Book your free consultation

After we review your finances, we determined that given your monthly income you can’t possibly repay $100,000 but you could manage to repay $25,000 and still cover your rent or mortgage and other living expenses.

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Step 2: We Speak to your creditors

Your Licensed Insolvency Trustee will then take care of all the formal paperwork and present your consumer proposal settlement of $25,000 to the creditors. Most creditors would rather receive a portion of what you owe, rather than have you declare personal bankruptcy where they receive much less, or possibly nothing.

Once your consumer proposal is accepted by your creditors, you will no longer receive harassing collection calls and all high interest charges will stop!

Your $100,000 debt is reduced to:

$25,000

Step 3: Start paying down your debt

Once your Consumer Proposal is accepted you will make one low monthly payment directly to David Sklar & Associates, consolidating all your debt, without interest and without penalties.

Payments are made monthly over a maximum of five years. You also have the option to repay the total amount at any time. We then disburse the funds to your creditors.

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So... where did the rest of the debt go?

The truth of the matter is that the Canadian government would rather have you claim a consumer proposal than a bankruptcy, and your creditors would rather get 20% of your debt than nothing (which is what they would receive if you claimed bankruptcy).

The remaining debt is simply gone.

As long as a licensed insolvency trustee is managing your consumer proposal, there is no catch. As a Canadian citizen, this is yours to use.

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Find out how much you can save with our
Consumer Proposal Debt Calculator

Use the slider below to tell us how much you owe and we will show you how much you can save!

*Do Not Include Mortgage or Car Loan Debt.

$10,000 $250,000

With a consumer proposal at 0% interest, you will only have to pay back:

$3,480/$58 per month

*This calculator is for demonstration purposes only. Your results may vary based on your unique financial situation.

Advantages of a Consumer Proposal

Consumer Proposal vs. Personal Bankruptcy

Filing a consumer proposal or declaring personal bankruptcy will help you to clear your debts and protect you from creditors but there are some important differences to be aware of. 

One major advantage of a consumer proposal is that you will not lose any of your assets and you are not required to surrender anything.

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Consumer Proposal

Personal Bankruptcy

Total debt must be less than $250,000

No limit to size of debt

Only available to individuals

Available to individuals or companies

You keep your Assets: Home, Car, RRSP’s, RESP’s, & Investments

Surrender your assets (Exemptions)

Keep Your Tax refund

Calendar year’s tax refunds go to creditors

Payments are structured based on what you can afford

Payments based on household income and value of assets

The payment is flexible you can pay everything immediately (lump sum), or stretch your payments over a maximum of 5 years the choice is yours

The payment is NOT flexible, first bankruptcy 9-21 months, second-time bankruptcy 24-36 months

Getting into debt is easy. Getting out is a different story.

But it's still possible!

Did you know there is a Debt Program federally regulated by the Canadian Government, designed to help citizens avoid claiming bankruptcy? This amazing program can only be administered by a Licensed Insolvency Trustee (LIT).

If you’re struggling to make your payments every month and creditors won’t stop calling, we can help.

What our clients are saying.

Based on 762 reviews
I am so grateful to Jackie Stanley with David Sklar & Associates.She has listened and worked with me to come to a reasonable solution.Jackie has provided so much information, walking me through everything. I couldn’t ask for a more patient, kind and understanding person to help me.I look forward to working with her through my time with David Sklar & Associates.
16:26 09/26/22
I had a great experience. Christine and David made me feel well taken care of and at ease with the whole process!
17:03 09/23/22
Jackie Stanley is an extremely personable, friendly and professional representative with David Sklar & Associates. Her customer service skills are exemplary and her knowledge with regards to my situation and helping me with getting my life back on track was just amazing. She was very understanding of my issues, and took her time to make sure that I understood everything. At the end of my meeting with her I left feeling emotional but relieved to know now that my life can finally move forward. Jackie, you have been a great asset in my life and I will never forget your kindness. Mr. Sklar I would just like to say that you have a 5 Star representative in your associate Jackie Stanley.Respectfully, Bob
12:29 09/23/22
I was in so much stress and in a lot of debt Jackie Stanley was extremely and professional help to get out of my debt I recommend in reaching out to her you won't regretted. Thank you to Jackie and to the whole team David Sklar & Associates Inc.
02:22 09/23/22
Jackie, has been amazing in this very life altering time, she’s been prompt and exceptional at bringing understanding of the process, it’s been a great transition the whole crew is to thank.
00:59 09/23/22
It's my first experience with David sklar and I my say a big thanks to u guys for ur good work and I recommend David sklar to everyone and I can't forget a big thanks to Jackie Stanley am so happy
00:24 09/23/22
Christine was a great help, very personable and knowledgeable. She listens to you and puts you at ease with your situation. Very much appreciated assistance.
20:36 09/12/22
I had the opportunity to become a client of David Sklar & Associates. Christine Sylver had assisted in helping me understand and get through the process quick and efficiently. She was very sweet and very accommodating! She made me feel very comfortable to ask any questions and went above and beyond. I would 100% recommend this wonderful team.
22:19 09/09/22
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We are David Sklar

Our team of Licensed Insolvency Trustees in Ontario can help you get out of debt and in control of your own financial future. We’ve helped thousands of people and we can help you too. 

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.