David Sklar & Associates Inc.

Consumer Proposal & Bankruptcy Trustees
Serving the Greater Toronto Area

Bankruptcy in Toronto – Not an Easy Fix

As Bankruptcy Trustees in Toronto and the GTA, we feel we have a unique view of bankruptcy. After working with thousands of people who have declared bankruptcy - we know that while it is painful, for most it is the only chance they will have to make a fresh financial start.

As officers of the court, we make sure our clients are “honest, but unfortunate debtors” who deserve a chance. We also ensure that creditors receive their ‘fair’ share. In addition, we make certain that all legal requirements are met by our clients, their creditors and ourselves. This gives us a unique three-sided view of bankruptcy - human, corporate and legal.

The vast majority of our clients are people who have gotten too far in debt, either through poor use of credit, loss of income, divorce, or bad health. Often it is a combination of factors. We see young professionals unable to get a good start due to excessive student loans, couples whose incomes have not kept up with their lifestyles, seniors entering their retirement years with excessive debt, and many others. People like you and us – not perfect, but doing the best they can.

Yes, we also see the schemers and frauds – but their numbers are few, and the legal and criminal penalties they face can be severe.

Many of the creditors we are dealing with need their money. They are not faceless, heartless entities; they are the companies and people that fuel our economy. From mom & pop operations, to local retailers, to large corporations, to collection agents – they are people and companies who have provided services and goods and need to be paid.

The courts and government departments we deal with are amazing. The levels of competence are high and they have a real compassion for the bankrupts before them – whether in person or through the reams of paperwork required for a bankruptcy.

Bankruptcy in Toronto or any part of Canada, is not an easy fix, but it is a powerful opportunity that our government offers its citizens. The chance to start fresh – to rebuild financial stability.