Debt Settlement Total Debt Freedom About Us Total

Debt Settlement Total Debt Freedom

About Us • Total Debt Freedom was founded in 2004 and is licensed and bonded throughout most of Canada • We are a Canadian debt settlement company. • Our vision is to create fast and efficient debt relief for consumers, yet meet the needs of credit grantors to recover debt in the fastest and most efficient means possible. • On average, our clients pay about $400, 000 in debt back monthly in lump sum settlements. • Settlements average 40 -50% • 2/3 rds of our staff are former collection industry insiders. www. Total. Debt. Freedom. ca

How we work Consultation • We consult with people in debt over the phone who are experiencing financial hardship to see if our program is a good fit. Enrolment • We take on the client once they pass the underwriting tests, and fully understand how the program works and supply all docs. Client Saves Funds to SIF Negotiate Settlements Repeat Process • We customize a program, and budget to settle all debts over 1 -3 years, the client saves money monthly in a settlement savings fund. • Once the client has saved sufficient funds to make a meaningful settlement, we contact the creditor to finalize it and have payment made. • The process above is repeated until all debts are settled in full. www. Total. Debt. Freedom. ca

How Do We Underwrite? • We accept people with over $10 k in unsecured debt. • If client has the capacity to pay in full, or make their minimum monthly payments they are declined. • If client is too deep in debt and bankruptcy is a better remedy, they are referred to one. • Consumer must have been declined by their bank • Must be experiencing some kind of legitimate financial hardship. IE job loss, divorce, reduced income etc. • Homeowners with equity are referred to a lender to borrow funds to PIF or SIF • Client must “get” how the program works www. Total. Debt. Freedom. ca

Licensing in Canada • Debt Settlement is licensed under the “Collection Agency Act” in most provinces. • Must be a Canadian citizen or has been lawfully admitted to Canada for permanent residence and who is ordinarily resident of Canada • Many American companies are operating in Canada contrary to the licensing requirements of the collection act. www. Total. Debt. Freedom. ca

Myth vs. Reality Debt Settlement Myth Total Debt Freedom Reality Fees are paid upfront Fees evenly paid over 20 months. We stop collection calls We can’t stop collection activity Creditors don’t recognize us and wont work with us All unsecured debt can be settled We tell people to stop making their minimum monthly payments. Clients make the independent decision to save money and fund a settlement savings account to pay lump sum settlements. www. Total. Debt. Freedom. ca

Future of Debt Settlement • Negotiating a settlement on unsecured debt isn’t going away. • Scrubbing inventory with collection partners • Bulk settlements • New debt settlement models will appear that tie into consolidation loans, DIY & legal models • US players need to clean up their act • The ministry needs to enforce current rules www. Total. Debt. Freedom. ca