WHAT ARE THE BENFITS OF DEBT AGREEMENTS?
WHO CAN ENTER INTO A PART IX DEBT AGREEMENT?

One regular affordable repayment. We deal with your creditors. Interest accruing on unsecured debt is frozen.
Protection from creditors and debt collectors. No more harrasing phone calls. Become debt free sooner.
A debt agreement can be proposed by a debtor who is insolvent (cannot pay their debts) & who has -
• Not been bankrupt, utilized a debt agreement or given an authority under Part X of the Bankruptcy Act in the last 10 years
• After tax income of less than $86,800.35*
• Unsecured debts of less than $115,733.80*
•Unsecured assets of less than about $231,567.60*
*Limits are updated twice yearly (March 20 and September 20)
A debtor must disclose that s/he is a party to a debt agreement if incurring debt or obtaining goods and services in excess of $5778.00

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