Bankruptcy Trustee & Consumer Proposals
In London, Ontario
Find debt relief in London at David Sklar & Associates
Debt Relief – London, Ontario
You’ve found yourself in debt. We can show you the way out!
Our team of Licensed Insolvency Trustees in London can help you avoid personal bankruptcy with a consumer proposal. The sooner you reach out to us, the sooner you will regain control of your finances and free yourself from all that financial stress you’re living with.
You may be in a difficult position where creditors are calling and harassing you or maybe you’re transferring money from one creditor to another to cover your minimum payments.
Luckily, you’re in the right place for debt relief in London. Let’s get started. We can help!
Start the conversation.
For debt relief in London, meet Christine Sylver, Licensed Debt Counsellor
As a Certified Insolvency Counsellor and a Certified Insolvency Administrator, with over 25 years of experience in the Insolvency Industry, Christine provides debt relief solutions to clients with compassion and understanding, in order to find the best solutions to start fresh on a new financial path. Together, Christine will work with clients in obtaining financial recovery, to live a stress-free financial lifestyle, in order to focus more on life and what it has to offer each individual.
Find out how much you can save with our Consumer Proposal Debt Calculator
Use the slider below to tell us how much you owe and we will show you how much you can save!
*Do Not Include Mortgage or Car Loan Debt.
With a consumer proposal at 0% interest, you will only have to pay back:
$3,480/$58 per month
*This calculator is for demonstration purposes only. Your results may vary based on your unique financial situation.
We take great pride in what we do. Hearing our customers talk about how we’ve made a difference in their lives is our greatest reward.
How we can help with debt in London?
A Consumer Proposal is a legally binding agreement offered by the federal government that significantly reduces the amount of debt you owe to your creditors. A consumer proposal is a popular alternative to bankruptcy as it consolidates and reduces the total amount of debt you owe, stops accumulating interest charges, stops wage garnishment, stops legal action, provides relief from collection calls and allows you to keep your assets.
At David Sklar & Associates we will help you every step of the way through the proposal process to present the best offer possible to your creditors. After your proposal is accepted by your creditors you will be asked to make monthly payments for up to 5 years, that are based on your income, expenses, assets and what you can afford to pay. The proposal is a fair solution for everyone involved. Speak to our Licensed Insolvency Trustee first to understand all of your options.
We understand that most of the people we help never imagined they would find themselves in such a difficult financial crisis. Most of the people we work with tend to be hard-working, honest people who, often for reasons beyond their control, are simply not able to pay back their debts.
Before we recommend personal bankruptcy, we work closely with you to see if any other debt repayment options can be used as an alternative, like a Consumer Proposal. Only when we are satisfied that personal bankruptcy is in your best interest, do we recommend this process. Speak to our Licensed Insolvency Trustee first to understand all of your options.
We’ve all seen the ads claiming how a debt consolidation loans can get you out of financial trouble and reduce your monthly payments. Yet, you should know there can be significant risks with this approach.
If you have missed even one payment or received a collection call, it may be too late to qualify for a bank loan. To get a debt consolidation loan from a bank, you will need a spotless credit history, steady income, equity in your home or a co-signer.
If you use the equity in your home and are unable to make the payments, you could lose your home. Frequently, people who take out debt consolidation loans don’t know about the hidden high interest fees and find themselves in even more debt than before.
Speak to our Licensed Insolvency Trustee first to understand all of your options.
It’s stressful and overwhelming to carry large amounts of debt. Are you struggling to break the debt cycle? We can help you develop a better relationship with money.
Our team of Licensed Insolvency Trustees has been providing credit counselling in Ontario since 1997.
At David Sklar, we have Licensed Insolvency Trustees who have years of experience providing debt relief services to Ontario residents looking for a fresh financial start. Specializing in consumer proposal, bankruptcy, and credit counseling, our trustees will explain all your options and customize a debt recovery plan that’s manageable for your unique situation. Many of our clients are surprised to learn there are more options than bankruptcy or debt consolidation! Our experienced team of non-judgmental, knowledgeable, and caring individuals all have one goal—to help you regain control of your finances. Schedule a confidential appointment today. You deserve a fresh start.
Managing your student loan debt is important. If you decide to declare bankruptcy seven/or more years after you have ceased to be a student (part/full), your student loans will be eligible for discharge.
Speak to our Licensed insolvency Trustee to review your current financial situation they will provide you will all the options available to help get you out of debt.
Many people in Ontario have way too much credit card debt and find it difficult to manage even minimum payments. We can help you consolidate all your credit card debt, eliminate interest charges and reduce the total by up to 80%.
It’s not a loan, it’s a government-approved settlement plan that gives you a maximum of 5 years to complete your payments to creditors.
Income Tax debt can be a difficult challenge to overcome. Our Licensed Insolvency Trustee’s help people who are overwhelmed by their debt load and have fallen behind filing their Income Tax. We can help negotiate with Revenue Canada to accept a reduced amount on your outstanding taxes and put a stop to the interest charges and penalties.
During your free consultation we will discuss all your options and help you prepare the required documentation. This will include getting your Income Tax reporting up to date. We will then speak to CRA on your behalf and request a reduction to your unpaid taxes.
The results of filing vary from situation to situation, but our experience has been that Revenue Canada is reasonable in its handling of people looking to resolve their debts and not avoid financial responsibilities.
Payday loans are short-term loans that are not borrowed from banks. Instead, they are borrowed from private companies.
What makes payday loans so attractive to someone struggling to make ends meet is that they’re very easy to get. However, they can become a debt trap, since they are exempt from the 60% interest rate limitation. Therefore, the annual interest rate on a payday loan is close to 400% or higher if you miss payments.
We can help you determine the best option for you to help you out of the payday loan debt trap.
Your mortgage and car debt are both examples of secured debt. This means that when you borrowed money to pay for your house or your car, the bank loaned you the money because they could easily take the asset back if you can’t make your payments.
Is a consumer proposal right for you?
Consumer proposals are interest-free, so you may find it more manageable to cover your mortgage and car payments that way. Consumer proposals will not allow you to include secured debt (like your mortgage or car loans), but you will be able to reduce other forms of debt by up to 80%.
When you need or want an expensive item and interest rates are low, it’s hard to resist the temptation to take out a line of credit rather than waiting until you have enough saved up to make the purchase yourself. This cycle of borrowing instead of saving is very easy to fall into.
Do you have a line of credit, overdraft protection, or other personal loans that you’re trying to pay off? You may be struggling to come up with the payments. When you’re also paying for housing expenses, food, and clothing, those debts can quickly get way over your head.
(And we have all been there so we say this with no judgement!)
We help folks from all walks of life with debt and we can help you, too.
No cost to you
We are federally regulated and it doesn’t cost you anything to meet with us to learn about the different debt options available to you. Not all debt solution providers can provide you with the knowledge or legal protection a Licensed Insolvency Trustee can. We do not work on commission and we will never ask you for any upfront fees.
With you every step
This can be a very stressful and overwhelming time. You might even have trouble sleeping. But rest assured that no matter how worried you are about your financial situation, we can help. We will clearly explain your options and help you start building a brighter financial future for yourself and your family.
Certified licensed professionals
Licensed Insolvency Trustees are not just federally licensed. They are federally regulated, too by the Office of the Superintendent of Bankruptcy (OSB) to ensure that they’re upholding the high standards of the job and not violating a strict code of ethics. These rules are in place to guarantee Canadians the support that they need when they’re at their most vulnerable.
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.