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?

finger on calculator david sklar credit counselling

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 774 reviews
Jerry was professional and was easy to deal with
00:09 11/29/22
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.
19:53 11/17/22
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.
12:21 11/16/22
Recently dealt with Christine at David Sklar & Assoc. and worked out a Consumer Proposal to put forth to my creditors for my Credit Card debt. She was very courteous, professional and put me at ease with a proposal that I can afford on a monthly basis, which will eliminate my debit in a reasonable timeframe. I would recommend Christine and this firm in a heartbeat. Very happy with the service and attention I got !!
01:59 11/15/22
Excellent customer service. Special thanks to Olga for being prompt and helpful. She’s a star. Bibi is helpful as well. Great agency to work with.
19:28 11/14/22
After seeing your commercial play on CP24, I realized that it addressed all the questions and concerns I had about my financial situation. It all started with my one phone call to your office. I had the extreme pleasure of working with Cori Naron at your St. Clair West office in September 2022. She took the time to explain what my options were knowing that it was a very stressful situation with my debt load. She made me feel at ease with my decision to file a consumer proposal and outlined the benefits to me. She is thorough and her attention to detail is outstanding. While it takes a little while to reap the benefits of making this hard decision, she took the time to reassure me that it was in my best financial interest. Well done David Sklar & Associates for having such an amazing representative at your company and for allowing me to "get a fresh start"!
14:31 11/14/22
Very highly perfection individual, well executed and greatly knowledgeable in his work, which guided me me the right decisions making opportunities. Thank you.Sincerely, Peter Romasz
20:18 11/13/22
Trina Powell was very helpful and made the process very easy. Thanks again for all your help.
17:59 11/06/22
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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.