Call For a Free Consultation
(416) 498-9200
Toronto – Midtown
David Sklar & Associates Toronto Midtown Office


Start today, contact us for your FREE no obligation consultation

Consumer Proposal and Bankruptcy in Toronto

Overwhelming debt is stressful. When people feel like they can’t pay back their debts, they often think bankruptcy is their only option, but you may have more options than you think. The David Sklar & Associates team of bankruptcy trustees (now known as Licensed Insolvency Trustees) in Toronto is here to help you learn about your options for debt relief and start rebuilding your life.

Reviews for Toronto-Midtown Office

Bankruptcy Trustees in Toronto – Midtown

The path out of insolvency begins with a call to a trustee in bankruptcy. Start by booking a free consultation at our Toronto – Midtown office or any of our locations in the GTA. Call 416-652-0800 and get started. You can also email us at

A trustee in bankruptcy will help you decide whether bankruptcy is the right answer in your case. They will discuss your financial situation and evaluate whether or not you’re insolvent and what kind of debt relief options are open to you.


Toronto – Midtown Office Location:
(St. Clair & Bathurst – nearest main intersection)
Unit 2, 550 St. Clair Avenue West
Toronto, Ontario
M6C 1A5
Access by:
Phone: 416-652-0800
  • Subway (St Clair West Station 2 blocks away)
  • Bus & Street Car
  • Paid Parking – 550 St Clair Avenue West


Free Consultation with a Bankruptcy Trustee in Toronto

As part of your free consultation, a bankruptcy trustee in Toronto will discuss your options. Bankruptcy can mean giving up your assets to pay for unsecured debt and it’s always your last solution. You have more options including a consumer proposal in Toronto or debt consolidation.

During our review, if we find you solvent and able to repay your unsecured debts, we will walk you through debt relief options like debt consolidation and debt management plans that can get you back on course. You may even be able to get your debt under control by learning how to budget your income and eliminate debt faster.

On other hand, if our review during your free consultation finds that you are insolvent, meaning you are unable to pay your unsecured debt when due, then you could be eligible for personal bankruptcy or a consumer proposal in Toronto. A consumer proposal is a government-regulated alternative to bankruptcy that will make it possible for you to get out of debt without giving up your assets. Like a bankruptcy, it must be filed by a trustee in bankruptcy.

Credit Counselling with a Bankruptcy Trustee in Toronto

In addition to bankruptcy or a consumer proposal in Toronto, credit counselling may also be part of the process of recovering from insolvency. Credit counselling is an important part of improving your credit history and building your finances in the future.

Getting a Consumer Proposal in Toronto

A consumer proposal in Toronto and a Division I proposal are two alternatives to bankruptcy you can explore. A Division I Proposal is very similar to a consumer proposal in Toronto, only it’s meant for corporations and individuals who owe more than $250,000 in total debt not including the mortgage on your primary residence.

Consumer proposals, Division 1 Proposals, and bankruptcies are all regulated by the same laws. Here’s how they’re similar:

  • You receive a significant debt reduction or an entire erasure of your debt
  • Interest stops growing on your unsecured debt
  • You’re protected from collection calls and letters, garnishees, and legal action
  • You must attend credit counselling with a trustee in bankruptcy

Here’s how consumer proposals differ from bankruptcy in Ontario:

  • You get to keep your assets
  • You pay back your debt in reasonable monthly payments for a period of up to 5 years
  • A consumer proposal remains on your credit history for three years after you complete your payments
  • Your creditors must vote to accept your consumer proposal in Toronto, and if the majority accepts, it becomes legally binding for all of your unsecured creditors

Debt Consolidation in Toronto

If you are not insolvent, debt consolidation loans or debt management programs may be a solution to your debt problems. Be cautious of taking out a debt consolidation loan as it could come with higher interest rates or even enable you to create more credit card debt. A consumer proposal in Toronto is an alternative form of debt consolidation that actually reduces your debt and stops interest.

Bankruptcy Trustees in Toronto

In order to file for bankruptcy or a consumer proposal in Toronto, you will need the help of a bankruptcy trustee in Toronto. They are highly regulated and trained professionals.

To contact a bankruptcy trustee in Toronto, call David Sklar & Associates with your inquiries at 416-652-0800 and visit us at any of our Greater Toronto Area locations.

Greater Toronto Area Offices – Location Details:
Toronto – MidtownMississauga – Etobicoke | Toronto – Head OfficeToronto – West | Pickering – Ajax | Brampton

As of April 1, 2016, bankruptcy trustee / trustee in bankruptcy is now known as a Licensed Insolvency Trustee or LIT.


Google Rating
GOOGLE Reviews for our Toronto – Midtown Office at Unit 2, 550 St. Clair Avenue West Toronto, Ontario M6C 1A5
Jordan McCracken
Jordan McCracken
14:30 28 Jun 18
It's hard not to ramble on about how Great Cori is, she understands that life gets the best of us sometimes and truly puts in 100% effort to help you rectify the situation you are facing. I can not recommend Cori enough. Do yourself a favour and at least get in for a consultation visit if you are even remotely considering using their services.
Dawn Quinn
Dawn Quinn
17:00 25 May 18
I contacted David Sklar & Associates along with another company to look into my options for debt consolidation. I went with DS&A after reading reviews and meeting with Cori in person. The other company was asking me for money I didn’t have and none of it made any sense. Cori was able to clarify everything and made me feel very comfortable. I’m happy to be on the road to being debt free and I feel like a true weight has been lifted so that I can get back to focusing on what is important in life and not being stuck on how many payments I cannot make! I would highly recommend them!
22:29 23 May 18
I am truly grateful to have found Cori at David Sklar & Associates. She is patient, made me feel comfortable, she let me know that I am not alone and provided me with a plan to get out of debt which ultimately provided me with peace of mind. She is extremely knowledgeable, professional and personable. A true gem. I am happy to say I am now debt free. Thank you Cori!
Michel Maillet
Michel Maillet
21:24 22 May 18
David Sklar & Associates, Cori and the whole team were amazing during my insolvency from the beginning initial consultation to even the tax preparations and everything that can happen afterwards which were all dealt with in a timely fashion even after my discharge, when I needed something they were always ready and available to deal with my requests. And even though life’s little unpredictables happen to us, it’s very easy to start rebuilding credit after discharge. When I moved to Toronto from New Brunswick, this city ate me up and was faced with no other decision aside from insolvency and David Sklar and Associates gave me the fresh start I required in order to rebuild in a difficult economy, took the financial stress off my shoulders so I could concentrate on career search and development needed to compete in today’s tough marketplace. Very professional service and friends/acquaintances for life!
Steve Smith
Steve Smith
18:04 12 May 18
When I first called David Sklar & Assoc. I didn’t have a clue about bankruptcy and when I met Ms. Naron, she took the time to explain my options. As time went on and we started the process Ms. Naron was very patient with me and continually answered any and all of my questions and concerns. If I was late sending my monthly reports she would politely call and remind me to send them in. All in all, I had an efficient and pleasant experience through out the process. I would gladly recommend your firm if asked about this unfortunate buisiness. Also if asked about Ms. Naron, I would definitely recommend her. She was very professional and at the same time, very companionate. Sincerely, Steve Smith
Shawn Seegulam
Shawn Seegulam
22:55 07 May 18
David Sklar has been nothing short of fantastic, their Staff has always been professional and encouraging during what was a difficult time for me. Cory, you were and still are awesome, I cannot thank you enough for helping me take back my life! =)
12:48 02 May 18
Cori has been very kind, and non judgemental while helping me overcome my stressful debt load. I can thankfully breathe again.
Miles Payot
Miles Payot
18:08 20 Apr 18
I highly recommend Miss Cori Naron as an ESTATE ADMINISTRATOR. She is very approachable and very helpful. She treat her clients with respect and will make you feel comfortable. I am very thankful for having her as my advisor.
Debt Free
Debt Free
05:23 17 Mar 18
I met Cori at the St. Clair office of David Sklar at one of the most difficult period of my life, when I did not see any way out of my debts. I cannot thank Cori enough for her help. She was very approachable and reassuring. She was very respectful and great communicator. Thanks to her help I am finally debt free and got my life back. i would give her more than 5 star, if it was possible. I highly recommend her for anyone who is having difficulty with his/her debts.
Garth Riley
Garth Riley
00:15 17 Mar 18
Cori Naron is brilliant. I had a financial client that needed to go bankrupt. I had this email from my client. Garth thank you for introducing me to Cori from David Sklar office on St Clair. She made this bankruptcy issue not so scary at all. She was calm and precise. She educated me and did not judge me. She helped me feel ok. Life issues happens and Cori was kind and let me know everything would be ok . Today I feel like my health is getting better and I have positive plan going forward . Thank you Garth for referring me to Cori. More people should know about her . Thank you Cori for being good at what you do Garth Riley Finacial Agent
Dominque Milburn
Dominque Milburn
13:41 06 Mar 18
This review is for Cori Naron: Cori is extremely knowledgeable in her field, and as such, she has an ability to make you feel like everything is going to be okay. She does not judge you no matter what the circumstances, and if you simply do as she suggests, life will start to seem infinitely easier.
Patrick Alejo
Patrick Alejo
02:24 13 Feb 18
Working with Cori was a joy. My proposal went off without issues. She made me feel comfortable and there was no judgement. I would recommend her services to anyone looking for a fresh financial start. Patrick
Kat S
Kat S
02:22 08 Feb 18
This review is for Cori. She was an amazing help for my family. She was clear in presenting all the options for us. She provided excellent support and we are so grateful that she got us on to the direction we are now headed. Thank you!
Holdin Morris
Holdin Morris
06:45 04 Feb 18
@Cori. Thank you for the knowledge and also bringing me on board to do a proposal. I now work for one of Canada's top 5 banks and if I didn't listen and make that move my dream would not be possible. @David Sklar & Associates The best!
Ron Rolloda
Ron Rolloda
19:17 20 Jan 18
After i stepped in her officed last week i was treated with respect. she’s a great communicator able to understand my financial problem. i highly Recommend ate Cori’s David and Sklar and Associates at Saint Clair West location.
Dan Marotta
Dan Marotta
17:39 13 Nov 17
Cori has been a great help to me, she is very thorough and a great communicator. I would most certainly recommend Cori to anyone in need of similar financial services. Thank you Cori.
Bryan McKay
Bryan McKay
19:57 10 Nov 17
Cori was extremely helpful while dealing with my case. She is very knowledgeable and I highly recommend her and David Sklar & Associates. She definitely qualifies for a 10 star rating.
Rogen Abkilan
Rogen Abkilan
19:33 29 Oct 17
I cannot thank enough to Cori Noran and David Sklar and Associates for helping me since the day I came in to their office. Cori is so approachable, friendly and knowledgeable , she helped me the process step by step until at the end of signing. I highly recommend Cori -Estate Administrator At David Sklar and Associates..
Terry Mitchell
Terry Mitchell
03:02 25 Oct 17
During a particularly difficult period in my financial life, at the age of 68 and retired, I had occasion to seek out the advice and assistance of Cori Naron at David Sklar and Associates.. I must say that her straightforward and professional manner and wisdom helped me come to terms with the difficult decisions I had to make in order to be fair to my creditors and to myself regarding my obligations. Now that my commitments have been met I am free to enjoy the balance of my retirement years knowing that the lessons I have learned, although they should have been learned much earlier on are of great value and better late than never. Thank you especially to Cori but also to everyone involved in the arrangements made for allowing me to respond to my past and face my future with self respect and responsibility. I highly recommend that anyone facing serious financial difficulties take the time to communicate with Cori and the organization she represents. There are viable and honourable solutions available to ease the stress you might be facing.
Next Reviews
Trustpilot. Midtown.
Congratulations to Our Toronto Midtown Office for Receiving the Certificate of Excellence

for 2018!

Midtown. Certificates.