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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.
David Sklar & Associates Inc.
5.0
Based on 685 reviews
David Sklar & Associates Inc. – Consumer Proposals & Licensed Insolvency Trustees
David Sklar & Associates Inc. – Consumer Proposals & Licensed Insolvency Trustees
5.0
Based on 685 reviews
Kirah32
02:07 03 Mar 21
I've used these services twice and they have always been understanding, supportive and informative. They give you hope when you feel like there is none. I've referred multiple people to them and they've all had the same professional experiences. Jackie Stanley was amazing and got the job done. Thank you!
Kristine San Gabriel
15:14 02 Mar 21
Dealing with any kind of debt can be stressful. Jackie is amazing! Professional, warm and extremely helpful to say the least! She made sure to answer all of our questions, address any concerns and made this whole process as smooth as possible.
Clayton Surujbally
17:09 18 Feb 21
Working with David Sklar has been an easy and detailed process. I am especially thankful for the personal services provided by Jackie Stanley as she has been very informative and always ready to answer any questions or concerns in a timely manner. I highly suggest working with Jackie if the opportunity presents itself.
Chris Thompson
17:11 07 Feb 21
On February 2 l made the somber driveTo David Sklar and associates.I had known this location from having drovePast it many times over the years.I made a appointment using the phone numberOn their door in Pickering, OntLater that day l had a consultation withTrina Powell.Immediately upon meeting with her l wasBecomming more relaxed with the proceedings.Trina, was very down to earth, and very professional.We all have our calling, l can only gather sheHas found hers, and she is very good at herJob, and career.I met with her again two days later but on thisVisit l felt more relaxed, and self assured of myDecisions, having already met with Trina.Thank you! Hat's off to you.I also had a phone zoom call with MarkTo whom as well was very easy, and comfortableTo talk to,Thank you, Mark.The team at David Sklar and associatesShould take great pride, and comfort when theyHelp people, like me and probably so many others.Thank you.
Desiree Balkaran
17:09 07 Feb 21
I have dealt with this company before many years ago when I did my bankruptcy , and found to be very trustworthy, professional, and right at ease. No judgement, very understanding and very supportive. So of course would come to then again when this time did the debt consolidation. The staff is friendly and goes over all the details with you and answers all your questions so you know exactly what to expect and make an informative decisison. I aslo like how if I had any questions could leave a message or email the company and how promptly they answer me back. Thank you David Sklar & Associates for getting me back on the right track and living a life of debt free again. I have my freedom back thank you for all your help and support. Amen 🙏
Elizabeth Thomas
09:18 04 Feb 21
I am so grateful to Rhoda Lewis for an amazing opportunity to start fresh, she is very knowledgeable, professional and very friendly. I felt so comfortable from the moment I walked into her office, I definitely would recommend Rhoda to anyone who is looking for help. I love and appreciate you very much for helping me. After all these years I still kept in touch with you via email just to say thank you. Thank you again so very much and continued blessings.
Andrei Podeanu
02:09 01 Feb 21
Jackie Stanley will take you step by step in explaining the process professionally, answering all the question I had over the telephone or e-mail. We are very satisfied and grateful for her work and effort. Dan Podeanu
Daniel Domingues
22:19 23 Jan 21
Ashley Carter was very nice to me and professional and she helped me with my issue and she answer my questions in email. She helped me a lot and she gave me less stress.
1 blaze
18:36 21 Jan 21
Jackie Stanley take you step by step in explaining the process professionally, replying on our every question over the telephone or e-mail. We are very satisfied and grateful for her work and effort.
Tree Broker
14:33 20 Jan 21
Jackie and the team at David Sklar and Associates took my very stressful situation and made me feel at ease. I was treated with respect and understanding from the start of my process right through to the end. Prompt email and phone responses made it feel like I was at the top of their priority list.Jackie and the team at David Sklar are the best in the business. I would highly recommend using their services.
Jeremy Y
14:04 20 Jan 21
Has helped me put to gather all my financial debt and find a reasonable offer and deal in making payments towards all my debts as one. Has been patient and kind service one on one. A big thanks to Jackie for helping guide me through my process!
WhoisDriaB
02:09 20 Jan 21
Jackie is an amazing person, she takes her time to make sure you understand everything. Every question I had she was always a email or text away with a quick response. Thank you again
danny adlabi
20:11 19 Jan 21
Jackie Stanley was amazing she was kind and wonderful to work with i am so grateful for her help she set down went over all my questions and my situation and i got all the help i need it
mer irf
19:59 19 Jan 21
Jackie made me feel very comfortable from the minute I walked in. She treated me with humanity and respect. She is also very professional and knowledgeable; she explained very clearly what was involved. Thank you Jackie for giving me the chance to start anew.
Dorianne White
15:06 19 Jan 21
We were so tired of our debt holding us back. We reached out to Jackie at David Sklar and she was so great from day one! She was quick understanding caring! Our experience was excellent! Everything was smooth and easy. What a relief it was with Jackie at David Sklar!Thank You so much 😊
F Volpe
05:07 11 Jan 21
Best thing I ever did! Don't let the messaging out there convince you being unable to manage your debt is shameful and a failing. Cori is amazing! She knows what she's talking about and she will guide through all your options. Everyone I've dealt with at David Sklar has been respectful and friendly. This was life changing help for me.
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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.

Let's Get Started Today

Take your first step towards a Debt Free Life