Small Business

We understand how difficult it is to run and maintain a business in these unprecedented times.

For some individuals the economic downturn has left them considering bankruptcy which is always the last resort. Bankruptcy is not your only option, the Licensed Insolvency Trustee’s (LIT’s) at David Sklar & Associates can help you explore all of your options and help you make the right decision for your business.

Contact us for your FREE no obligation consultation

David Sklar & Associates Inc.
5.0
Based on 702 reviews
Jelena Petrovic
18:06 20 Jun 21
Very professional and fast service! Also, personable!.. they don't treat you like a number, but like a person.From the time I first contacted them, until I was set up there has been not more than 7 days.I dealt with Jackie, she was great!
Maria Curbelo
19:59 18 Jun 21
I had a great experience with Rhoda at the Mississauga location. Extremely knowledgeable and helpful, she made me feel confident I had made the right choice contacting David Sklar and co. Highly recommend.
Mark Simmonds
21:50 16 Jun 21
I would just like to say thank you to David Sklar & associates for helping me out in this difficult time I was in way over my head, I was introduced to Jackie Stanley, at that moment things got better the calls stop. Jackie was so professional helpful, trusting answered all my calls all my Text, and emails professionally and respectful!! I can’t believe it, and now I’m gonna build my credit rating back up and have my life back Thank You, Jackie Stanley at David Sklar& associates, for doing an outstanding Job!!!!
Richelle Barriault
17:57 16 Jun 21
I am not very good at putting words together especially when your speechless for all the help from such a friendly happy non judgemental team. From being financially stressed and depression hitting all at once I connected with Jackie Stanley💯❤❤ from David Sklar team in a whole other level,she is an absolutely joy to deal with and very informative let me know there is light at the end of the tunnel.. despite my struggle the amazing lady Jackie Stanley was able to put a smile on my face and make me laugh super happy and grateful 🙏I was able to connect with her from David Sklar &Associates team I 💯 percent recommend her (Jackie Stanley) and will continue to recommend her. To any one looking to get out of debt or have any questions belive me when I say you will not be disappointed with Jackie she's such a great person and I'm lucky to have been able to recieve the help and guidance from such a wonderful person and you will be also...look no further no where but up from here ...Thank you So so much Jackie much appreciated
Grace Muller
17:55 25 May 21
I must admit that I am so glad I called! I spoke to Rhoda Lewis who right away made me feel at ease. She's so caring and supportive I highly recommend her. Thanks to her my life is now on track! Thank you David Skylar & Associates Inc!
Nicholas Burnett
17:07 19 May 21
Very professional and courteous. Jackie was very helpful and understanding. She was happy to answer any questions I had and we were able to process everything quickly with no hassle.
HN
23:00 06 May 21
I would say my experience with David Sklar was spectacular, they made it really easy for my through the whole process and now 9 months later my bankruptcy is discharged.i would recommend David Sklar to anyone.
A M
14:39 04 May 21
I had a nagging defaulted student loan that was holding me back. There were a few smaller issues that were compounding. The lockdowns really forced me to look into building back my credit and starting fresh.Ashley at David Sklar & Associates at the Keele and Finch location was a blessing. She was thorough in her explanations and answered any concerns I had. She gave me the options and let me decide what was best. After conferring with her, I decided bankruptcy was the best option. She made the process of filing for bankruptcy easy.There's nothing to be afraid of. Stigma attached to bankruptcy but you can reset if you work hard to make it happen.I highly recommend speaking with Ashley if you have any concerns about debt solutions.
Pilar
21:05 28 Apr 21
I highly recommend David Sklar & Associates Inc. They helped me with my finances along with the help of Ashley Carter whom assisted me thoroughly throughout the process of my Consumer Proposal. She is very friendly, professional and updated me occasionally through emails. With her tremendous help, I am very thankful to have accompanied someone like her!
Fribeda Fronda
19:14 27 Apr 21
In behalf of David Sklar & Associates, Ms. Ashley Carter had been working tremendously and diligently to make people’s lives easier and stress free. Through this debt free program, my husband and I had been relieved from the headaches and worries of our financial standing before. Ashley, a soft spoken lady was very approachable and listened to our concerns. She explained to us very clearly the good things that will happen to our best interest. I believe that she is a great asset to the company and an excellent counsellor. My husband and I can’t thank you enough, Ashley, for all your help during those times when we needed it most. As of now, we are enjoying life in our seventies, though how simple it is we are happy because we have the assurance that sooner we will be debt free. Thank you so much Ashley for your kindness and for always being there for us. May God bless you more especially with good health.
Dalia Berger
13:49 27 Apr 21
I was so impressed with the professionalism , the speed, the attention, the compassion, and the efficiency your office of David Sklar provided for me, you provided me with necessary information, you helped me solve a big problem I had , you were always available to answer my questions, I can’t thank you enough ,Will always recommend you to anyone who could use your services, thank youDalia Berger
Jay Caja
04:19 15 Apr 21
The support I received was thorough and timely and the help that I needed with Credit Proposal was addressed in a single interaction. Thank you so much!
stefania cicchino
13:54 27 Mar 21
We worked with Jackie. She is very professional and very caring. She is quick to respond and really cares about helping the people in front of her. I went with my uncle, who was scared of the whole process and mentally delayed. Jackie took her time with us and made him feel at ease. She carefully explained things multiple times and was very encouraging. She was a shining light in a difficult process.
Christine Lowe
16:44 12 Mar 21
Jackie is very professional, kind, supportive and super helpful. She was able to help me get back on track. Great service and I will definitely recommend them.
Belen Trava
19:01 11 Mar 21
Jackie provided me excellent service, was very helpful, and she made feel very secured and she listened to all my concerns.i was speechless with excellent service.
nicole lowartz
17:02 11 Mar 21
Had a great experience and successful result working with Carol at David Sklar & Associates! I was well informed and received great guidance after just the first conversation! She handled everything and helped me build a budget that is realistic and that i can really stick to! I highly recommend Carol and her team at David Sklar. Give them a call!
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What is a Division 1 Proposal?

A Division I Proposal enables a person or business to avoid bankruptcy and be released from their unsecured debts after they have repaid a portion of those debts and honoured all the terms of their proposal.

WHAT IS THE PROCESS?

The Division I Proposal process varies from case to case. For most businesses and some individuals, it can include:

  • Extensive audits and cash flow analysis
  • Tax liability assessment
  • Business operation assessments – including employee and client retention

After you have met with a trustee and all relevant debt, liability, asset, and income information has been reviewed in detail the trustee will go over all the options available for debt relief. If both the individual and the trustee agree that a Division I Proposal is the best choice, they will then prepare a proposal together.

The proposal will set out the portion of debt your are able to repay over a given period of time and other terms that will be followed in exchange for being released from the debts included in the proposal.

The trustee then files and submits the proposal to your creditors. Note not all debts can be included in a proposal.

Once the proposal is filed the creditors must:

  • Stop all collection efforts
  • Stop all legal actions
  • Stop charging interest

The creditors vote on whether to accept or reject the proposal. For a Division I Proposal to be accepted – more than 50% of the creditors who hold more than 66.6% of the debt must accept the proposal. The Court must also approve of the proposal before it can be put into effect.

Speak to a Licensed Insolvency Trustee

If your business is facing crippling debt and repayment issues and you are considering filing for bankruptcy, we recommend you visit one of our 7 offices in Ontario to discuss your situation and explore possible solutions with one of our experienced and certified professionals.

WHO CAN FILE?

The Bankruptcy and Insolvency Act offers a Division I Proposal as a possible debt relief option to individuals who meet one of the two following conditions:

  • An individual who owes more than $250,000 in debt (excluding the mortgage on their prime residence)
  • A business (sole-proprietorship, partnership, or corporation) that owes any amount of unsecured debt.

In Ontario, only bankruptcy trustees can file and administer Division I Proposals.

Speak to a Licensed Insolvency Trustee

If your business is facing crippling debt and repayment issues and you are considering filing for bankruptcy, we recommend you visit one of our 7 offices in Ontario to discuss your situation and explore possible solutions with one of our experienced and certified professionals.