If you need a trustee in bankruptcy, David Sklar & Associates has helped thousands of people start over again financially. Climbing out of debt feels like an enormous task. A bankruptcy trustee, now known as a Licensed Insolvency Trustee, will make sense of your financial challenges and show you how you can erase your debts. There are more options than just bankruptcy when you’re insolvent. You can keep your assets and still pay off your unsecured debt.
When you first contact David Sklar & Associates, we offer a free initial consultation in which a trustee in bankruptcy assesses your financial condition. You can meet with us at our Toronto – Head Office or any of other five locations located conveniently across the GTA. A bankruptcy trustee in Toronto will discuss the debt solutions available to you confidentially. The discussion is private and supportive. As trustees in bankruptcy, we’ve helped thousands of people and seen all the different ways people get in over their heads in debt. It’s our job to help you start over.
Call 416-498-9200 to book a free consultation at our Toronto – Head Office and tell us about your financial situation to get started today. Stop waiting and start getting out of debt with a trustee in bankruptcy.
The Toronto – Head Office is located at 245 Fairview Mall Drive. You can also find a second Toronto office at 1280 Finch Avenue West.
Sometimes bankruptcy is the best option available to you when you’re insolvent. If that’s the case, your trustee in bankruptcy will tell you. If there is a way you can avoid bankruptcy we usually recommend taking it.
Sometimes your financial situation can be solved without a bankruptcy trustee in Toronto. These include cutting your expenses, debt consolidation loans, and debt management. If that’s the case, a trustee in bankruptcy will inform you of your options.
If you are insolvent, it means that you cannot reasonably be expected to pay your debts. That opens up options like a consumer proposal in Toronto, a debt relief process that involves reducing the unsecured debt you owe and stopping interest charges while you get to keep your assets. If you owe more than $250,000 without including your mortgage, you may be eligible for a Division 1 Proposal, which is similar to a consumer proposal but for businesses and individuals with higher debt loads.
These are alternatives to bankruptcy that allow you to repay your unsecured debt without giving up your assets. They involve a legally binding agreement with your creditors to reduce your unsecured debt. In addition, you will no longer be charged interest and actions to collect your debt (including debt collectors, wage garnishments, freezing bank accounts, etc.) are stopped immediately. If you get a consumer proposal in Toronto, your payments will be based on your income and expenses.
As part of the consumer proposal process, you will have to take credit counselling with a trustee in bankruptcy. Because there are many different types of people who become insolvent, credit counselling at David Sklar & Associates is tailored to your needs, whether that’s learning how to best use credit, how to rebuild your credit rating, how to achieve financial goals, or how to start over.
There are several different types of debt consolidation. Some are through debt consolidation loans provided by a bank or a private lender. If you already have a poor credit history, as many people seeking help from a bankruptcy trustee in Toronto do, you are unlikely to get a low interest rate. It often makes more sense to seek debt relief from a consumer proposal in Toronto.
A trustee in bankruptcy in Toronto can give you advice on debt consolidation that lenders may not want to tell you.
Whether you need debt consolidation, a consumer proposal in Toronto, or you think you may need to file for bankruptcy, a bankruptcy trustee in Toronto will help you find the answers you need. Trustees in bankruptcy are regulated by the federal government. It takes years of education and certification to become a trustee in bankruptcy. Trustees in bankruptcy are the only professionals allowed to file bankruptcies and consumer proposals in Ontario.
Book a free consultation with David Sklar & Associates at any one of our six locations in the Greater Toronto Area for help with insolvency. Just call 416-498-9200.
As of April 1, 2016, bankruptcy trustee / trustee in bankruptcy is now known as a Licensed Insolvency Trustee or LIT