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.

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The top 5 debt relief options in Ontario include:

david sklar debt relief debt consolidation loan consumer proposal

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. 

Bankruptcy in Ontario

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.

david sklar debt relief icon debt consolidation loan

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.

david sklar debt relief icon consumer proposal blog

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.

david sklar debt relief credit counselling

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.

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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!

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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.

Based on 1005 reviews
Theophilus Hove (Tad)
They seem to have given me back control over my earnings.
Frederick Kirby
Very professional and prompt service . Jackie made my experience very easy . Thank You
Karen Swan
I can't praise Cori enough from David Sklar & Associates. Cori's acceptance and understanding of the diverse needs and concerns of her clients shines through with zero judgement. She made this process smooth and relieved much of my stress and anxiety around debt. Thank you!
Amanda Thomas
My husband worked with Chen Siga, he walked us through our options and then through the process of getting everything done. Everyone we dealt with was very helpful. Overall a wonder experience, we are so glad we contacted them and got the help we needed.
REX ADAME Southern Ontario Canada
I have been surviving on paycheck-to-paycheck basis and could not go any further because the lending interests just accumulated beyond what I can afford. Fortunately, a good friend recommended Grace Cuffaro from David Sklar & Assoc. and I finally got to settle my financial obligations in a reasonable way. Don't go anywhere else; ignore those financial brokers and social media ads who just want more money from you - go directly to the people who can really save you from drowning in debt.
Darren Augustin
I recently had the privilege of working with Trina at David Sklar & Associates, and I cannot praise her enough. Trina’s commitment to her clients goes above and beyond the norm. Here’s why she stands out:Incredible Knowledge: Trina is well-informed and deeply understands her job. Her expertise shines through as she navigates complex processes effortlessly.Client-Centric Approach: Trina doesn’t just follow procedures; she genuinely cares about her clients. She takes the time to listen, empathize, and tailor solutions to their unique situations.Clear Communication: Explaining financial matters can be daunting, but Trina excels at breaking down each step of the process. Her clarity and patience make even the most intricate details understandable.Availability and Accommodation: Trina’s dedication extends beyond office hours. She accommodates last-minute changes and ensures her clients feel supported throughout their journey.In summary, Trina is a gem in the world of customer service. If you’re seeking debt resolution, don’t hesitate to reach out to David Sklar & Associates—and ask for Trina. You’ll be in capable, caring hands.Thank you, Trina, for making a difference!
Urszula Kazula
Jerry Janiec is very helpful and professional. Thank you.
David Siria
Unbelievable people who just want to help and I'm thankful
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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.

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Call 1-844-962-9200 or fill out the form below. We’ll do the rest.

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