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.

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.

Photo by Polina Tankilevitch, Photo by Karolina Grabowska, Photo by Anastasia Shuraeva

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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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.

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.

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

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"!

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.

Real-Life Success Stories Of People We've Helped

Freda's Story: Managing Excessive Debt on a Fixed Income

Dominic & Emily: Family First - A Consumer Proposal in Pickering

Paul & Nancy: Stopping Aggressive Bill Collectors

Pamela: Loss and Recovery with a Consumer Proposal

Nate & Shelley: Credit Card Debt Spiral

Susan & Bob: Standing Together After a Life-Changing Injury

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 788 reviews

Kris

Christine Sylver was very helpful to my situation. No question asked, she went above and beyond just to give me the options that I need to solve my problems. She explained and made me understand my options. Thank you Christine! Everything was done in a week. Regards, to Richard Sklar for explaining everything further to me. 😊

15:25 05/27/23

Mary M

I was blown away by how kind and empathetic Christine and David were. I came into the process expecting to feel embarrassed, but they were so helpful and unquestionably supportive, they made the whole experience a positive thing. On top of that, Christine found a solution for me that was better than I ever could have imagined. I highly recommend Christine, David, and colleagues to anyone.

22:29 05/15/23

Rob Hultgren

Christine Sylver has been very efficient in working with me in all aspects toward developing a very favourable consumer proposal which meets my financial budgeting very nicely. She also exhibited a very positive pro client attitude and was every pleasant to communicate with. Richard Sklar also demonstrated a very positive pro client attitude in explaining in detail all aspects. All great!!

19:31 05/12/23

John Horan

Dealing with Christine was a real pleasure.She was very understanding professional and knowledgeable she answered all my questions.I left feeling relieved a big burden was lifted from my shoulders

18:39 05/11/23

Jacquelyn Ireland

They are great to work with!

20:08 05/10/23

Hailey Cascagnette

Very happy I got in touch with Jackie! She has been a great help and a pleasure to work with! I highly recommend Jackie if you need help getting out of financial debt.

15:48 05/09/23

Cassandra Arevalo

I had the pleasure of working with Jackie and she made the experience very easy and was very honest which I appreciated as I was extremely nervous to go through with the process. Any questions or concerns I've had after our meetings were answered no problems and although it's been a few weeks I can honestly say I've never felt so stress-free. Very thankful for Jackie.

14:59 05/09/23

Kevin Chase

Very considerate of how people can sometimes make mistakes and need help to get things back on track. Great team of people. Thanks to Jacqueline for all her help.

22:20 05/07/23

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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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Book your free consultation today. We’ll do the rest.