If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...

No one likes thinking about death — but if you have debt, it’s important to know what happens to it when you’re gone. In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar breaks down how debt is handled after death in Canada, who is responsible for paying it, and how to protect your loved ones from financial stress during an already difficult time. Whether it’s credit cards, mortgages, or co-signed loans, we’ll help you understand what your family can expect — and what...

In this episode, we debunk common myths about the confidentiality of declaring bankruptcy in Canada. Worried about who will find out if you file for bankruptcy? We break down who is legally informed and why your financial fresh start is more private than you might think. For personalized advice and a free consultation, visit David Sklar & Associates. Link to Blog: Who Will Know That I’ve Declared Bankruptcy?

Many people struggling with debt in Ontario have considered filing for personal bankruptcy but are concerned about losing their assets and the consequences that follow. In some cases, bankruptcy is the right solution, however, most debt problems can be solved with a Consumer Proposal, the #1 alternative to bankruptcy. A Consumer Proposal is a way of consolidating all your debts and offering to pay your creditors a smaller percentage of what you owe them. It’s a legal agreement you make ...

One of the most frequently asked questions we receive is, “Will my credit be affected, and will I still be able to use a credit card after I file a consumer proposal?” The short answer is yes, a consumer proposal will impact your credit rating and yes, you will still be able to acquire a credit card after you file. A consumer proposal will have an effect on your credit report, but these effects are temporary and vary depending on the repayment terms of your proposal. Listen in and find ...

In this podcast, we sit down with Shirley Sklar a certified insolvency counsellor at David Sklar & Associates and discuss the emotional impacts living in debt can have. Being in debt is stressful, It can put a strain on you, your family, and even your job performance. The emotional effects of debt include depression and anxiety, resentment, and stress, all of which are known to cause people to make more impulsive decisions. Related Links: Financial Stress in the M...

In this episode, we discuss the common mistakes people make when managing their finances. How to overcome feeling defeated or wanting to give up. The mistakes people make using credit. Setting boundaries with your children and common roadblocks. Creating a financial plan and sticking to it, is the most effective way of getting out of debt and staying out of debt! Related Links: The Truth About High-Interest Loans VS. Consumer Proposals & Bankruptcy 12 Habits ...

Welcome to the Debt Free Life Podcast. In this episode, we take some time to learn about David Sklar & Associates, what they do and how they can help people struggling with debt. The world of insolvency can be intimidating and confusing to a lot of people. In this episode, David Sklar takes the time to explain what we do and how we can help. Compassion and Empathy is the driving force behind our business and it’s why David Sklar & Associates is the first choice...