Indebted Canadians pay at least $24 million a year for what is often unnecessary debt advice. How does this happen? Well, when you have overwhelming debt, you’re not just thinking about the money. There’s also... Read more »
The federal government is well aware of the questionable practices by many unlicensed “debt consultants” in Canada, yet they seem to be doing little other than issue consumer alerts and reports. Hoyes Michalos has written... Read more »
For the first time ever, the federal government has issued a scathing report, saying that it appears that debt consulting firms are taking advantage of vulnerable consumers. They charge large up front fees, but in... Read more »
As I blogged about last week, the Office of the Superintendent of Bankruptcy has released a review of consumer proposals involving debt consultants. I’ll start with an important reminder: a consumer proposal is a legal... Read more »
It’s no secret that Hoyes Michalos is not a fan of debt consultants. We’ve written about our concern with debt consultants many times. It’s for this reason that I was quite pleased to see the... Read more »
Now that the Ontario government has restricted debt advisors from charging up-front fees before completing a settlement with creditors, many debt relief companies are switching their business tactics. What they now offer is so called... Read more »
I am about to climb back on my soapbox. This spring I talked about why everyone seems to be advertising consumer proposals. Some of these companies are very subtle in their approach. They may not mention... Read more »
I’d like to tell you about someone who came to talk to me about filing a consumer proposal. I’ll call him Paul (not his real name). What makes this an interesting story is that at his initial consultation meeting... Read more »
You have debt and you want help, and you hear the ads on the radio or throughout the internet promising to eliminate your debt, but you don’t know who to trust. Are debt counsellors real,... Read more »
We’ve all heard or seen the ads: “Government program will reduce your debts! Call now! See if you qualify!”. Most of us have also received phone calls from telemarketers (they always call when you are... Read more »
You have seen the ads all over the internet that promise a program to “reduce your debt by up to 70% without filing bankruptcy.” The ads sound too good to be true, and they make... Read more »
Debt Relief Experts