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Protect your Income and Assets

If you are apart of a DDF Karzafree Credit program, we are able to stop legal and collection actions against you for the unpaid portion of your original debt, as it would be effectively forgiven in the proposal. Our team of experts can help you with the following:

Income protection: Stop creditors from taking your income. Income protection also prevents your creditors from approaching and informing your employers about your financial distress. This can help you emotionally by avoiding embarrassment and will not affect your long-term career goals in the company.
Asset seizure:  Our program will help you create a repayment plan that takes the value of your non-exempt assets into account, thereby preventing the seizure of them. Secured debts are normally left untouched as long as the loan or lease payments are being made on time for them.
Declaring insolvency, bankruptcy or otherwise, does not mean that you will lose all of your assets. There are several exemptions from seizure that are important to note. Some of your assets that are automatically exempt are:

  1. Household furnishings to a value of $11,300
  2. Personal effects to a value of $5,650
  3. Tools of trade to a value of $11,300
  4. Motor vehicles to a value of $5,650
  5. Farmers’ business assets to a value of $28,300
  6. Certain life insurance policies
  7. Most pensions
  8. RRSPs which have been in place for more than a year.

Liens and charges: The execution of a lien or charge prior to filing a program with us can be rendered null and void until the program is successfully complete.

Bank accounts: Any attempt to garnishee your bank account is put on halt.  It is advised however, that if you have a bank account open within the bank that you owe money to, you should open or move your banking to a “neutral” bank.

Contact us today to join a DDF Karzafree Credit program and manage your debt.