Credit Counselling

Establish better spending habits and find lasting debt relief.
david sklar debt relief credit counselling

What is credit counselling?

The main purpose of credit counselling is to provide individuals with the guidance they need to make better financial decisions and to provide them with the resources and education they need to get out of debt and develop a better relationship with money.

Our team of Licensed Insolvency Trustees has been providing credit counselling in Ontario since 1997. 

The guidance you need to make better financial decisions.

We can’t understand why there’s no formal real-life financial education offered in our schools. No wonder there are so many Canadians drowning in debt—it’s simply not right!

That’s why we’re so passionate about helping people get control over their finances. 

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Learn how to manage your debt!

In a comfortable, judgement-free environment, we’ll discuss your financial situation and carefully explain your debt relief options to you. We’ll share strategies with you that will help you learn how to budget, how to save, and how to manage credit.

You’ll finally be in a position to establish better spending habits, leading you to a financially free future.

What you’ll learn through credit counselling:

david sklar debt relief credit counselling couple

Budgeting couldn’t be easier…

Understand your financial position

Identify your financial goals

Create your new budget

Monitor and adjust when needed

One of the best tools that anyone can have is a budget.

Many of our clients learn how to successfully use a budget for the first time. These are valuable lessons that can be used by everyone who wants to manage their debt and build their financial security.

woman considering credit counselling with david sklar

Step 1 – Clearly understand your current financial position

This can be a little scary, especially if it is the first time you have done this. Just remember to be as honest and as accurate as you can be. The more accurate you are – the easier it will be to find your way out of debt and on your way to financial security.

to get started the expense & income worksheet below, will serve as a handy starting point to achieving your financial goals. Whenever possible, we recommend that couples work on their family budget together.

couple discussing credit counselling david sklar debt relief

Step 2 – Clearly identify your financial goals

Financial goals are not the idle fantasy of sudden and extreme wealth, they are the reality that you can create for yourself if you use your money wisely. When first setting financial goals it is important to set goals that you will be able to achieve in a reasonable length of time. Compare your Average Monthly Income to your total Average Monthly Expenses – is there money you could earmark for paying down your credit cards? If so, how much do you think you could pay your cards down by?

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Step 3 – Create your new budget

At this point, you have completed your Expense & Income worksheet, you have a good idea of how you are spending your money and how much money you are earning. You have begun to identify those financial goals that will help you to do the things you really want to do with your money – and you have selected one or more financial goals to start working on.

Now you will now be able to set up a budget worksheet using the link below. It is important that your budget records are correctly dated. Get used to thinking and re-thinking your Budget – it will take several months before it is a good fit for you. Even then, in order for your budget to be current and accurate – it will have to change to match your changing financial reality.

couple talking credit counselling

Step 4 – Monitor your budget and make required changes

Establishing the habit of successfully living on a budget requires a focus on your financial goals, consistency in monitoring your spending, sitting down and reviewing your budget and goals every month, and accepting the fact that you can do this!

No one is perfect – there will be good and not-so-good months – recognize your successes and don’t beat yourself up over your slips. You are on the road to a debt-free life – and there are a lot of lessons to learn along the way – but you have a map (your budget), and you will get there.

Credit Counselling FAQ's

Credit counselling in Ontario is required by law when filing for bankruptcy or filing a consumer proposal. In both processes, an individual is required to complete two credit counselling sessions. The first session will typically occur two months into the proposal, whereas the second will generally occur 7 months into the process.

When we provide personalized credit counselling services, we consider your unique needs. We will work with you to determine how long you will require these services. If credit counselling is being provided for a bankruptcy or consumer proposal, you are required to attend two mandatory sessions.

While credit counselling is involved in a consumer proposal, the two are different processes. Credit counselling refers to sessions through which a counsellor provides an individual with financial education to help them achieve financial wellness. A consumer proposal, however, is a legal process through which an individual is able to pay a reduced amount of debt in a set period of time (usually 5 years).

Credit counselling is advised for those with a low consumer-debt-to-income ratio. Credit counselling can either solely help you manage your debt, or help you to identify if you require a consumer proposal or bankruptcy to more effectively rid yourself of your debt burdens. These services are especially beneficial in situations where:

  • You find yourself frequently utilizing cash advances
  • You are applying for additional credit cards
  • You are constantly borrowing money to make monthly costs
  • You are relying on loans
  • You’re unable to pay credit card minimum payment
  • You continue to spend outside your budget
  • You are considering bankruptcy or a consumer proposal

There are many benefits associated with getting credit counselling when you are seeking debt relief. Credit Counselling in Toronto can help you to achieve financial ah-ha moments by providing:

  • Personalised counselling from a trained financial professional like the counsellors at David Sklar & associates
  • Lower interest rates on credit card debt
  • Removed late fees & additional charges on debt
  • Reduced total of debt
  • Loans consolidated into one monthly payment for more manageable repayment
  • Tools and resources for better money management
  • Guidance on bankruptcies and consumer proposals

If you are experiencing serious debt problems, contact us to explore your options. Call David Sklar & Associates at 1 844-962-9200 or click on the FREE CONSULTATION button at the bottom of your screen to get started. During the consultation, we will help you identify what your current financial situation is and how best to fix it. With offices throughout Ontario – we are here to help.

Patience and Compassion

David Sklar & Associates is staffed with patient and encouraging counsellors who are committed to the financial empowerment of every person we assist.

We know that debt is overwhelming and stressful, which is why we provide a judgment-free atmosphere where we explain the options and help you make an educated decision. The team at David Sklar is committed to providing the tools and resources you need to achieve financial wellness.

We are driven and are passionate about helping you erase your debt. When you choose us as your Licensed Insolvency Trustee, you can have peace of mind that we will provide you with compassionate and educational credit counselling services.



Personalization

There is no one-size-fits-all solution to debt management. The counsellors at David Sklar & Associates provide you with the one on one attention you need to establish a debt management plan that is well suited to your needs, capabilities, and lifestyle. Our sessions are catered to your unique needs to help you set feasible goals.

 

Certification

Our team is made up of certified insolvency counsellors who are equipped with the knowledge and experience necessary to provide reputable credit counselling services to you.

 

Consultation

A good credit counselling agency in Toronto will provide you with a free consultation to assess your unique needs.

When you are seeking debt relief and require a plan of action — but don’t yet want to make a commitment — you can have peace of mind that we will provide you with a free consultation to go over your current finances and your different options. Then, we will work with you to determine the best path to help you achieve debt relief.

 

Experience

We have been successfully helping people achieve financial empowerment through credit counselling in Toronto since 1997. Our team of experienced counsellors understand bankruptcy and debt management and are committed to sharing that knowledge to help you reduce your debt.

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 751 reviews
I made a review in 2017 i will again make a review now 2022. Thank you Jackie for everything that you do for me. Forever thankful. I have paid everything already. On one spring day back in 2017 i was in a lot of stress, dealing with phone calls from the bank. A friend of mine told me to go to David Sklar’s office (its close to my apartment) as she is also paying hers( in another firm). So i did and i was glad i did. Thank you and God speed!
22:49 08/13/22
(From K.M)After a great deal of thought, that actually went on far too long and only created more hardship, I finally called David Sklar and Associates. They immediately set up a mutual time for an in person appointment. I had the greatest fortune to meet with Jerry Janiec!From the moment I met Jerry, I felt at ease and the weight I had been bearing began to lift.Jerry is very personable with a happy, kind, patient and gentle nature. He is very knowledgeable and extremely thorough in all of the information and options that were presented. Jerry was very supportive in the option I chose.I read other reviews on David Sklar and Associates and I whole heartedly agree. If you are struggling and it seems never ending, make the call to these people. I should have much, much sooner.Thank you so very much Jerry Janiec. You truly are a blessing.Sincerely, Karen M.
16:08 08/08/22
Great job. Bibi , marvel and many associated help us to serve the problem . Appreciate to your team David sklar .
15:26 08/05/22
Cori was kind and helpful, anyone interested in learning more about debt options would be fortunate to hear her insights and experience on the subject
13:55 07/26/22
Cori has been a great help in relieving stress caused by debt in my life, she has excellent knowledge in her line of work. Cori has a lot of patience and takes her time with her clients to make sure they understand. It has been a great pleasure working with Cori.
18:15 07/20/22
The service excellence I received was amazing. The staff at friendly and considerate and show empathy when dealing with such a difficult choice.
19:52 07/19/22
Caner uzun.. this place is full of professional lawyers all my debt problems are gone all I had to do is make an appointment go see them boom its that easy thank you all for your help
17:19 07/18/22
My mother introduced me to the company and I signed up and I spoke to Christine Sylver ... Let me tell you .... Christine Sylver is the best licensed debt counselor ever. She helped me from when we starting talking up until now and she's a great individual. I would recommend her and this company to anybody. I can't wait to have me debt cleared and start my life again.
20:21 07/06/22
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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.