Debt Solutions in Ontario
Licensed by the Government of Canada — OSB-Regulated Trustees
Find the Right Debt Solution for Your Situation
Debt can feel overwhelming, but you may have more options than you think. Our Licensed Insolvency Trustee team can help you understand solutions such as consumer proposals, bankruptcy, debt consolidation, and credit counselling.
Fill out the form to speak with our team and learn what options may be available based on your situation.
Debt Relief Comparison Table
| Solution | Reduces Debt? | Stops Interest? | Legal Protection? | Keep Your Assets? |
|---|---|---|---|---|
| Consumer Proposal | Yes | Yes | Yes | Yes |
| Personal Bankruptcy | Yes | Yes | Yes | Some (*Exemptions) |
| Debt Consolidation Loan | No | Sometimes | No | Yes |
| Debt Management Plan | Usually No | Sometimes | No | Yes |
| Credit Counselling Only | No | No | No | Yes |
What Our Debt Solutions Do For You
Feel better about money
- Stop asking friends & family for help
- Take control of overdue bills
- Fix money stress in your relationships
- Sleep better without debt worries
Improve your finances
- One simple monthly payment
- End wage garnishments
- Stop paying high interest
- Get legal protection from creditors
How to Become Debt-Free in 3 Steps
Start living your best life debt-free, with confidence
Debts We Can Help You Solve
Why David Sklar
- Family-owned since 1998
- 22 offices
- 4.9 stars
- No upfront fees
- No hidden costs
- No judgment
5,500+ Top-Rated Reviews
4.9 stars based on over 3600+ reviews
4.9 stars based on over 2000+ reviews
Calculate savings
Consumer Proposal - 0% Interest
Debt Consolidation Loan - 30% Interest
Do Nothing - 19% Interest
* Calculations above are made over a 5 year period at a rate of 80% savings. This calculator provides an estimate of the total savings you may receive when filing a consumer proposal. Actual results may vary. Your payments will depend on your income, assets, and debts.
Imagine your life with no debt
David Sklar & Associates will never charge a debt advice fee or other upfront costs.
Cost should never be a roadblock to someone receiving the assistance they truly require.
Our goal is to act as your advocate, focusing on your needs and finding the most effective debt relief option for you
A Consumer Proposal Can Be a Powerful Debt Solution
A consumer proposal is a legal debt solution filed through a Licensed Insolvency Trustee. It can help reduce unsecured debt, stop interest on included debts, and protect you from most unsecured creditor collection action.
Frequently Asked Questions About
Debt Solutions
What are my options to get out of debt in Ontario?
If you are struggling with debt in Ontario, you may have several options, including a consumer proposal, personal bankruptcy, debt consolidation loan, debt management plan, or credit counselling. The right option depends on your income, assets, total debt, and what you can afford to repay.
Which Ontario debt solution is right for me?
There is no single solution that works for everyone. Some people need lower monthly payments. Others need legal protection from creditors. Others want to avoid bankruptcy or protect important assets. A Licensed Insolvency Trustee can review your situation and explain the options that may be available to you.
Is a debt consolidation loan the same as a consumer proposal?
No. A debt consolidation loan combines your debts into one new loan that you repay with interest. A consumer proposal is a legal debt solution filed through a Licensed Insolvency Trustee. It can reduce unsecured debt, stop interest on included debts, and provide protection from most unsecured creditors.
How long does it take to get out of debt?
The timeline depends on the debt solution you choose. A first time bankruptcy may be completed in as little as 9 months. A consumer proposal can last up to 5 years, but you can pay it off early. Debt consolidation loans and debt management plans usually depend on the repayment terms arranged with the lender or creditors.
Will a debt solution stop creditor calls?
A consumer proposal or bankruptcy can stop collection calls, wage garnishments, and legal action from most unsecured creditors once filed through a Licensed Insolvency Trustee. Debt consolidation loans, debt management plans, and credit counselling do not provide the same formal legal protection.
Can I keep my assets if I file a consumer proposal?
In most consumer proposals, you keep your assets while making one affordable monthly payment. This is one reason many people choose a consumer proposal as an alternative to bankruptcy. A Licensed Insolvency Trustee can explain how your home, vehicle, savings, or other assets may be treated based on your situation.
Do I have to file bankruptcy to deal with my debt?
No. Bankruptcy is only one option. Many people are able to avoid bankruptcy by filing a consumer proposal or exploring another debt solution. The best first step is to speak with a Licensed Insolvency Trustee so you understand your options before making a decision.
How do I get started?
Start by booking a free consultation with David Sklar & Associates. Our team will review your debts, income, assets, and goals, then explain which debt solutions may be available to you.
21 Licensed Insolvency Trustee Offices Across Ontario
There is a David Sklar office near you
Getting Out of Debt Is Possible
Did you know there is a debt relief program federally regulated by the Canadian 🇨🇦 Government, designed to help you avoid bankruptcy? This program can only be administered by a Licensed Insolvency Trustee (LIT).
If you’re struggling to make payments and creditors won’t stop calling, we can help you with a consumer proposal.
Here to help you
Our federally 🇨🇦 regulated 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