Do Nothing
If you have only a few basic assets and a limited income it may not be necessary for you to protect yourself from your creditors. There are situations in which the creditors are simply not able to seize the assets you own or garnishee the income you receive. See which Assets are exempt from seizure.
While this option will not relieve you from the often relentless calls from collection agents and damage to your credit rating it may be all that is necessary if you do not expect your situation to ever improve.
Many retirees and disabled persons find themselves in a position where they are “creditor proof”, meaning that creditors have little or no recourse against them.
If you are in this position and can use call display to stop the harassing calls, this may be an adequate option for you.
Our Trustee is able to advise you which of our options are best suited to your specific circumstances.
