David Sklar & Associates Inc.

Consumer Proposal & Bankruptcy Trustees
Serving the Greater Toronto Area

Consumer Proposals – Relief & Hope

For many of our Consumer Proposal clients in the Greater Toronto Area, the road to David Sklar & Associates (DSAI) has been a difficult one.

However, once the decision to file a Consumer Proposal is made – many of our clients experience a sense of relief. Then, as they work their way through their Proposals – they regain control of their finances, and begin to see a brighter future.

An important aspect of regaining control is learning how to manage and save money. Even beginning to contribute money into a small savings account can provide the comfort of knowing you have a back up plan. The security of a financial safety net can restore a sense of control and provide a real hope for the future.

Some of our clients’ stories are examples of this relief and hope:

Sharon (not her real name), was a single mother of two young children, who had been unemployed for several months. Even after finding a new job, she could not catch up on her bills. After struggling for months – she realized that she had to get help.

When she decided to file for a Consumer Proposal, she said it felt as if she was finally moving forward. After several months of careful money management, she was able, for the first time in years, to start saving money and was in control of her finances.

Her focus was no longer on how much she could pay her creditors and still afford to keep a roof over her head. She was able to shift her focus to the important things in her life: her children and the better future she could give them.

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The young widow, Zarna (not her real name), who was dealing with the loss of her husband and the realization that without him – she could not handle their debt load. Seeking help from DSAI, she was able to file a Consumer Proposal that allowed her to make a settlement to her creditors, which not only helped her financially, but satisfied the creditors.

As she gained control of her finances - her confidence returned. She was able to find a job that enabled her to begin saving. Eventually, she was able to save enough to visit her husband’s family in India – a journey that helped in her healing.

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George (not his real name), was a senior on a fixed pension who had retired with substantial debt. Unable to pay his debts – they ended up in the hands of collection agencies that hounded him constantly. Afraid to answer his phone, and stressed beyond his endurance – he sank into depression. A friend recommended he get help for his finances, and suggested he call DSAI for an appointment.

George made the call, and after reviewing his situation with a Trustee, decided to file a Consumer Proposal. Once the Proposal was in filed, his creditors were immediately notified and the collection calls stopped.

After several months of living on a budget, George was able to begin putting money into a savings account each month. While it was not a lot of money, it was a huge boost to his sense of self-worth.

Now, when his phone rings, he is happy to answer it.

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When people are weighed down by overwhelming debt – they become emotionally and financially stressed. They are dealing with creditors, collection agencies, banks, and begin to realize they will never break even. It affects every aspect of their life and can lead to depression, reduced self-esteem, and hopelessness.

However, when people take action and begin a Consumer Proposal – there is almost always a sense of relief. As they learn money management skills, how to manage money and how to re-build their lives – they often discover real hope for their future.

To protect the privacy of our clients, names and some details have been altered.