Pamela

Pamela's Story

Real People, Real Debt, Real Solutions

Loss and Recovery with a Consumer Proposal

In her mid-50s, Pamela (not her real name) suffered a severe emotional loss.

During the next few years, she tried to fill her emptiness with shopping, expensive gifts for family, and travel. Pamela earned a reasonable income. But her out-of-control spending began to put her into serious debt.

She and her husband took out a second mortgage against their home to pay off her debts. But she continued to spend. Eventually, she cashed in her RRSPs to pay off her debts. But her spending still didn’t stop, resulting in debt piling up again.

expensive gifts
Sick and holding hands

And then, over a three-month period:

  • Pamela’s husband’s health failed, and he could no longer contribute to the household income.
  • Pamela, who had wanted to work past 65, was facing imminent retirement due to her poor health.

With nothing left to cash in and debts continuing to pile up, Pamela became desperate. Finally, after accepting how serious her situation was, she got in touch with a grief counsellor and an accountant.

The grief counsellor helped Pamela to begin her emotional recovery. And the accountant advised her to contact David Sklar & Associates to begin her financial recovery.

Here's how David Sklar & Associates was able to help Pamela resolve her debts

Pamela met with a Licensed Insolvency Trustee at David Sklar & Associates to discuss her situation and review her options. At the time of their meeting, Pamela owed the following unsecured debts, all of which were in her name only:

Credit Cards

$38,000

Bank and Other Loans

$3,700

Revenue Canada Tax Debt

$2,000

Total Unsecured Debts

$43,700

Here's how much Pamela was able to save by filing a consumer proposal

Pamela’s proposal offered to pay $15,300 of the existing $43,700 owed.

Her creditors accepted the proposal, and she would pay $255 per month for 60 months. 

Pamela would need to only repay debts totaling only $28,400 – a reduction of 65% of the original amount.

After completing her consumer proposal, she’ll be released from her unsecured debts. In the meantime, her creditors cannot contact her for extra payments nor charge interest on the negotiated debt.

Pamela knows her journey toward emotional and financial recovery will take time and effort. But she’s confident in her abilities and knows that it’s doable. And if her early efforts at recovery are any indication, we don’t doubt that she’ll achieve her goals.

To protect our client’s privacy, aspects of this case study have been altered.

debt calculator

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!

*This calculator simply provides an estimate of the total savings you could receive filing a consumer proposal. Actual results may vary as each financial situation is unique. Your actual payments will be based on your income, assets, and debts.

Do Not Include Mortgage or Car Loan Debt.

$10,000 $250,000

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.

David Sklar & Associates is here to support your financial recovery

Learn how we can help you find debt relief with a consumer proposal or personal bankruptcy. Our passionate and experienced team at David Sklar and Associates has helped thousands of individuals break free from crippling debt payments. Our experts can answer any questions about your debts and recommend a solution based on your unique needs and goals. 

Let us help you pave the way for a brighter financial future, starting with a free, no-obligation consultation

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Kelly Silke
Kelly Silke
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Trina Powell is an excellent listener and completely non judgmental. She truly cares for her clients and goes out of her way to be available and to help even when that means she has to accommodate last minute life changes. She is incredibly smart and kind and takes the time needed to explain everything from start to finish. She is an incredible human being and only wants the absolute best for everyone she helps. The work she does is life changing and improving. I highly recommend her services and support to anyone else who is struggling with their debt loads to seek out her help. Trina will absolutely be there for you too and help you just as excellently as she did for me. I cannot say enough good things about her or the amazing work she does. Her patience, empathy, understanding, and dedication make her the absolute best. You should absolutely trust her with your life on the road to moving forward. Don’t be afraid you’re not alone and Trina will help you too.
Sheri Stevens
Sheri Stevens
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I am so grateful to Jackie Stanley with David Sklar & Associates. She has listened and worked with me to come to a reasonable solution. Jackie has provided so much information, walking me through everything. I couldn’t ask for a more patient, kind and understanding person to help me. I look forward to working with her through my time with David Sklar & Associates.
Bob Irvine
Bob Irvine
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Jackie Stanley is an extremely personable, friendly and professional representative with David Sklar & Associates. Her customer service skills are exemplary and her knowledge with regards to my situation and helping me with getting my life back on track was just amazing. She was very understanding of my issues, and took her time to make sure that I understood everything. At the end of my meeting with her I left feeling emotional but relieved to know now that my life can finally move forward. Jackie, you have been a great asset in my life and I will never forget your kindness. Mr. Sklar I would just like to say that you have a 5 Star representative in your associate Jackie Stanley. Respectfully, Bob
David
David
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After seeing your commercial play on CP24, I realized that it addressed all the questions and concerns I had about my financial situation. It all started with my one phone call to your office. I had the extreme pleasure of working with Cori Naron at your St. Clair West office in September 2022. She took the time to explain what my options were knowing that it was a very stressful situation with my debt load. She made me feel at ease with my decision to file a consumer proposal and outlined the benefits to me. She is thorough and her attention to detail is outstanding. While it takes a little while to reap the benefits of making this hard decision, she took the time to reassure me that it was in my best financial interest. Well done David Sklar & Associates for having such an amazing representative at your company and for allowing me to "get a fresh start"!
Christopher Rakobowchuk
Christopher Rakobowchuk
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Jerry Janiec is very knowledgeable and very helpful everything he explained to me was straightforward and very easy to understand. I'm very pleased to be working with Jerry to become debt free. I will definitely be recommending to any friends or colleagues your services. Thank you again for helping me get on the road to be debt free. 5 Stars is well deserved.
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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 1045 reviews
Danny Gottshalk
the service was excellent, Grace Cuffaro and Serena Sklar was very helpful and knowledgeable.
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Martin Obrien
Trina was Very pleasant and professional to deal with made the process absolutely easy no stress at all explained everything simplified it down so I could understand it would definitely recommend it
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Jordan Clarke
This place is great! Grace answered all my questions, very welcoming and I never felt judged! So far everyone I have dealt with was super polite, thorough and treated me with respect! 10/10 recommend!
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Praise_Hymn P
They are very accommodating and very respectful. They do very professional and make sure your worries are being addressed. Excellent job Samycha thanks for the help.
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Arci Olvez
Very helpful with all the inquiries and satisfied with their service!. Great company to work work with.
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Sharon Baltzer
Treated very well. They showed me a great deal of respect. Felt a load had been taken off my shoulders. Would highly recommend.
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Ken Burgess
Your staff was all very helpful and kind. They did not make you feel like a lesser person. We are so happy we went to see you to get us out of debt.
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Lawrence Wolfe
My experience working with Trina and then the rest of the team was great. They listened to all my concerns and addressed them.
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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. 

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