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Avoid Bankruptcy

At DDF Karzafree Credit we strongly believe that bankruptcy is not the option for you. In a moment of a financial crisis, many individuals and businesses believe that the only choice they have is to file for bankruptcy. Our team however, wants to protect you from the negative consequences that are attached to bankruptcy. Contact us for a detailed assessment of your situation and let us find an alternative solution for you.

There are many non-bankruptcy options available for individuals, businesses and families that involve working closely with the creditors to find a solution to your debt. Allowing us to serve you can result in lower, affordable monthly payments over a longer period of time, or even having to pay a small portion of your debt while the remainder is forgiven by the creditors.

If your debt does not exceed $250,000, you are eligible to file a consumer proposal as an insolvent entity. By law, if the majority of your creditors approve the proposal then all of your unsecured creditors must accept it as well. Two or more individuals, due to their close financial relationship, may make a joint proposal.

If your debt exceeds $250,000, our Licensed Insolvency Trustee will make a proposal under Division I, Part III, of the Act. The proposal typically focuses on requesting the unsecured creditors to accept a portion of the full amount owed, whereas secured creditors are negotiated separately. This option usually applies to small and medium sized businesses.

Options apart from bankruptcy can have many positive outcomes. Creditors view you as honourable and sincere for attempting to meet your responsibility towards them somewhat. Also, seizure of your assets such as your house and car are protected.

Dangers of Bankruptcy include:


Our team will help you avoid bankruptcy and find a better-tailored solution to your financial difficulties. Contact us today.