Debt Relief in Ontario
We can help you find the right debt solution to eliminate your debt
What’s the best debt relief option in Ontario for you?
There are some excellent debt relief options in Ontario and there are others that can lead to increased financial strain.
At David Sklar & Associates we’re committed to helping you out of debt and always have your best interests at heart. We’ll help you choose the best debt relief solution for your situation.

The top 5 debt relief options in Ontario include:

A consumer proposal is a way of consolidating all your debts and offering to pay your creditors a smaller percentage of what you owe them. It’s a legal agreement you make with the help of a Licensed Insolvency Trustee and is a federally regulated program.
It also has several advantages over bankruptcy: you get to keep all your assets, freeze interest charges, stop collection calls, and prevent creditors from taking legal action against you.
Once your consumer proposal is accepted, you will make one low monthly payment to your Licensed Insolvency Trustee, who will distribute the funds to all your creditors.
Your monthly payments will be based on your income, expenses, assets, and what you can afford to pay.

Personal bankruptcy should never be entered into lightly – you should consider it only after consulting with a Licensed Insolvency Trustee. We’ve helped thousands of clients weigh the pros and cons of declaring personal bankruptcy and, when needed, navigate this process.
When you declare personal bankruptcy in Canada, you’re announcing to the courts and creditors that you cannot pay your debts as they come due and have insufficient assets to cover them. By declaring personal bankruptcy, you get a fresh start.

A debt consolidation loan is an option for individuals who qualify for a loan. This loan usually comes from a bank or credit union; David Sklar & Associates does not provide loans. It’s most often used to pay down credit cards and similar consumer debt. Generally, it offers a lower interest rate than the original debts.
However, not everyone can qualify for a low-interest loan. Many people with low credit scores often turn to third-party lenders that can charge interest rates that reach almost 60%.
While getting a consolidation loan to pay off debt quickly may seem like a good idea, if the interest on the loan is too high, there could be long-term adverse effects.

Debt Management Plans are an option for people who earn enough to pay off 100% of their debts but cannot manage to pay off their debt + current interest rates.
A debt management plan will allow you to negotiate with your creditors reduced interest rates on the debts you owe. This agreement is not legally binding and cannot include student loans or Canada Revenue Agency debt. Nor can it stop the collection efforts of creditors who do not want to be part of the agreement.

Credit counselling aims to provide individuals with the guidance, resources, and education to help them make better financial decisions, get out of debt, and develop a solid relationship with money.
In a comfortable, judgement-free environment, we’ll discuss your financial situation and carefully explain your debt relief options. We’ll share strategies to help you learn how to budget, save money, and manage your credit.
You’ll finally be in a position to establish better spending habits, leading you to a financially free future.
What type of debt relief in Ontario can we help you with?
Student loans can help you receive a quality education – but they can also weigh you down financially for years after you graduate. If it’s been at least seven years since you’ve left school, you have plenty of options to get a handle on your student debt.
Are the interest charges on your credit cards giving you anxiety? Credit card debt can grow fast, especially if you’re stuck making only the minimum monthly payment. Luckily, there’s a way to slash your balance drastically – and even avoid future interest charges.
The Canada Revenue Agency (CRA) doesn’t forget past-due taxes easily – and they charge hefty interest fees on what you also owe. But there are safe and reliable ways to negotiate a manageable repayment plan with the CRA.
Payday loans may seem innocent at first, but the colossal interest rates they charge can devour your paycheque in no time. Learn how you can gain the upper hand by consolidating your debt under a new affordable payment plan.
Has an adverse life event, like a job loss, caused you to fall behind on mortgage and car loan payments, putting your assets at risk of repossession? If so, the right debt relief plan can help you catch up on your missed payments
Are you struggling to find money to repay your line of credit each month? Are interest charges and late fees creeping up? If so, you can take action to reduce your monthly payment or eliminate it.
Getting your finances in order can be challenging and stressful if creditors garnish your paycheque like clockwork. But you may be eligible to stop these harsh withdrawals, giving you the chance to rebuild your financial house.
Debt collection calls can leave you feeling stressed, and frustrated. They interrupt your day, distract you from work, and remind you of your debt problems every waking minute. Find out how you can put an end to the collection calls.
We are here whenever you’re ready.
Since 1998, we’ve helped thousands of people find debt relief in Canada. We can help you, too.
We will meet with you to discuss your debt-relief options, help you choose the right one, and then work with you to get you on the path to building wealth.
Our clients say it best
We take pride in what we do and hearing how we’ve made a positive change in our customer’s lives is the greatest reward we can receive.
We are here for you when you’re ready to live your best life debt free!
Getting into debt is easy. Getting out is a different story.
But it's still possible!
Did you know there is a Canadian debt relief 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.
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.