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Canada Credit Fix Claims to Clear Your Bad Credit and Only Pay Ten Cents on the Dollar for Settlement

A wonderful tipster (send in your tips here) brought the following company to my attention.

Canada Credit Fix claims to be able to remove accurate but negative information from your credit report in Canada. They also claim to be able to settle debts for ten cents on the dollar.

Canada Credit Fix Claims to Clear Your Bad Credit and Only Pay Ten Cents on the Dollar for Settlement

The tipster (send in your tips here) says they first heard about Canada Credit Fix from the following press release. Does this seem a bit over the top to you as well?

Canada Credit Fix Enters New Year With New Phase of Growth in the Credit Repair Industry
The time has come to enter the next phase of conquest in the credit industry, through their new software tools, their growing talent pool of financial experts, and expanding their services throughout

The credit repair agency Canada Credit Fix has entered the new year with a roar, as it introduces its next phase of growth in the second decade of this millennium. Canada Credit Fix, in its overall goal to dominate and conquer the credit repair, debt negotiation and credit litigation industry, has already signed up with key players in the financial industry, created partnerships with some of the nation’s powerful credit firms, brokerages, merged with fellow credit repair giant Cease Collect, acquired talent from across the industry, reached out to its client base using a successful social media ad campaign, got featured on local and national television, and have even gone into talks across the border to further expand on CCF’s horizons and abilities. [Would that be U.S. border?] This year has been exciting for the credit repair industry powerhouse, as it has shown substantial and unprecedented growth, unlocked new and stronger means to serve the customers, reached its credit repair and debt management message to all Canadians from coast to coast and established itself as the de facto authority on credit report repair and debt negotiation in Canada.

But like any big player in the credit repair industry, Canada Credit Fix does not plan on stopping. There are huge plans underway to further expand on Canada Credit Fix’s abilities to distribute their fiscal responsibility message and credit repair services. In the coming months you will see Canada Credit Fix grow into the household name their thousands of satisfied customers already know, through their innovative credit repair programs that haul their embattled clients out of a hole of debt, bankruptcy and poor credit.

Canada Credit Fix’s growth was phenomenal, reaching from small startup to credit repair industry heavyweight in its first year. Seeing its services as essential to the recession and the ongoing economic recovery, Canada Credit Fix has tapped into this vast demand for their credit repair service in Canada. Thousands of clients have already heard about Canada Credit Fix’s revolutionary service for Canadians, having been exposed to the credit repair firm message through their online classified advertisements and Facebook ads and their top tier search results on all the major search engines. Even traditional media has caught wind of Canada Credit Fix’s amazing service, as featured prominently on television news programs OMNI TV and Global News Hour. Canada Credit has simply become the media’s go to Agency for information on credit, debt, and identity theft.

As word reaches the Canadian public about Canada Credit Fix and their credit report repair service, clients have called nonstop to their customer phone line as well as visited Canada Credit Fix’s website for information and their rapid online application process. With a 900% increase in net traffic in all its domains and hundreds of clients joining on a weekly basis, Canada Credit Fix has shown impressive growth with more to come. The phones continue to simply ring off the hook.

Rapid expansion also means the need for innovative ways to expand on Canada Credit Fix’s abilities. Through this period of rampant growth, Canada Credit Fix expanded its staff of financial experts, including ex-collectors, former employees of Equifax, IT professionals, and legal, mortgage and credit experts. With the proper staff, Canada Credit Fix gains the proper tools to repair any client’s credit reporting woes. Their credit lab alone is the best in Canada, employing full time financial experts, and it is expanding! New high tech software is being purchased to keep up with the rising demand for Canada Credit Fix’s popular credit repair service, as well as plans to purchase server equipment to keep up with the increase in net traffic on all of their web domains. Expanding their capabilities to handle the tidal wave of clients is an ongoing process. Canada Credit Fix is always looking for new financial experts to round out their superstar team.

Canada Credit Fix has become an essential partner to many services that offer financing for their products. Seeing the mutual benefit of having clients with clean credit get approved for their services, mortgage brokers, loan agencies and car dealerships have joined in droves with Canada Credit Fix, offering credit repair and debt negotiation to their clients when the customer’s credit score is less than ideal. Not limiting itself to just loan institutions, Canada Credit Fix has partnered with fellow credit industry leaders, and future negotiations with a yet undisclosed American credit repair firm in offering their unique and innovative programs south of the border. [Oh boy, watch out FTC.]

The future can expect even more expansion with Canada Credit Fix, as it gears up to accommodate the predicted and anticipated increase in demand for the big Canadian credit repair agency’s services. As it grows to become the biggest name in credit repair in Canada and beyond, the public can expect to see more of the credit repair and debt negotiation giant in the future. – Source

Source

Boy, talk about conflicting messages. Check out this snap from the Canada Credit Fix page.

Canada Credit Fix Claims to Clear Your Bad Credit and Only Pay Ten Cents on the Dollar for Settlement

So the credit repair and debt settlement services are free, but people have to pay “as low as” $59 per month.

Canada Credit Fix Claims to Clear Your Bad Credit and Only Pay Ten Cents on the Dollar for Settlement
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Canada Credit Fix Claims to Clear Your Bad Credit and Only Pay Ten Cents on the Dollar for Settlement by

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • http://www.fastcreditfix.org/ Norbert Szabo

    Looks promising to me. I believed more in the DIY methods because there are a lot of companies online who claim to remove even accurate negative items from the reports but they can’t prove it.

    But what you said here seems to be backed up well.

  • annonomous

    sheldon and his canada credit fix and empirie citi are a ripe off they are quick to take your money and never heard from again!!!!!!

  • Buff56

    If there is an inaccuracy on your credit report, you can contact Equifax and Trans Union to dispute the charges. If the company involved does not respond to the disputed charge or claim within 30 days the charge or claim is removed from your credit report. You can do this yourself for free.

  • Steve Rhode

    Thanks for the information. Glad you made the call.

  • Steve Rhode

    I agree. It’s not sustainable.

  • Ron

    It is very misleading, I agree.

  • Ron

    Oh I forgot to mention the same is true for credit repair throughout Canada, you cannot charge a fee without first proving you have repaired the consumers credit. It’s not a viable business model in Canada, but Sheldon seems to think he has found a way around it by charging “membership fees”… that practice will only last so long before complaints pile up and shut him down.

  • Ron

    Steve, this is a problem in Alberta where this company operates. There is a limitation on the fee (10%) and when it can be collected (after settlement arranged). I called this company and spoke to a consultant, the whole story I got seemed deceptive and shady. They didn’t clearly answer questions and disclose facts. I wonder what their BBB report looks like…

  • Scott R

    Steve as far as I know there are no rules in Canada about using a credit report to apply for new credit if you have engaged in having negative but accurate information removed to artificially improve your credit report/credit score. In Canada each province has its own legislation it as pertains to credit reporting. Any fraud related activity would come under federal law. Ontario -the province with largest population-does have legislation that prohibits charging upfront fees for “credit repair” due to many “scams” reported by media in the past. Equifax and Trans Union are pretty clear as to their process to investigate errors and under law must investigate all requests from consumers to confirm if info reported by lenders is correct or not generally within 30-60 days of receipt of receipt of the inquiry and if it is an error or if the lender does not reply immediately remove the item in error.

  • Steve Rhode

    Scott,

    Thank you. It looks like Canada is still using the old format I am familiar with in the U.S.

    Any rules you are aware of in Canada about using a credit report to apply for new credit if you have engaged in having negative but accurate information removed to artificially improve your credit report/credit score. Is that considered credit fraud in Canada?

    Just to be clear it looks like Canada is still using the R9 reporting for derogatory items from the date of last activity and not the date first reported delinquent as we now do in the U.S.

    The U.S. used to have the same problem on the R7 which reflect both bankruptcy and credit counseling.

  • Scott R

    Steve from 25+ years in senior management with a Canadian bank I know for a fact that accurate but negative items are NOT able to be removed without a court order. The purge rules of Equifax and Trans Union Canada are pretty clear. For instance any settled debts appear as bad debt (I9 or R9) for 6 years even after a collection of charged off account is paid or settled and this 6 years is from date paid or settled or paid or last actrivity on the account. Obviously impact negatively a consumer’s credit score to settle but sometimes it MAY be the only option. Non profit credit counselling appears on Equifax and Trasnb Union as R7 for two years after the final payment in a debt management plan -whcich are generally 4-5 yrs in Canada of paying back full amount owed at reduced rates. Consumer proposal (equivalent of chapter 13 bankruptcy) are administered by law only by bankruptcy trustees under Canadian federal law (bankruptcy and insolvency act) appear as R7 for 3 yrs after completion which depending upon terms can be a few month to 5 yrs. Bankruptcy remains for up to 7 years from date of discharge (completion) depending upon province for a first time bankrupt and for up to 14 yrs for a 2nd time bankruptcy. At this time there are no laws in Canada pertaining to informal debt settlement other than if you hold clients funds certain provinces like Ontario require a firm doing settlements to be licensed and bonded under the collection agency legislation. Trust that helps clarify matters.

  • Steve Rhode

    Well actually your promotional video does say:

    “Wish that bankruptcy would vanish, wish that bad credit would just go away, tired of those collections showing up on your Equifax report. Have our experts help you clean your credit.” “Have our experts help clean your credit for you.”

    That certainly gives people the impression you are actively involved in removing all negative information.

  • Steve Rhode

    Well actually your promotional video does say:

    “Wish that bankruptcy would vanish, wish that bad credit would just go away, tired of those collections showing up on your Equifax report. Have our experts help you clean your credit.” “Have our experts help clean your credit for you.”

    That certainly gives people the impression you are actively involved in removing all negative information.

  • Steve Rhode

    Sheldon,

    Thank you for posting. In regards to your settlement services. Can you provide me to a link to your performance data that shows the results of those clients you have serviced. You can see an example of such a link, here.

    I am not as familiar with the rules in Canada but in the U.S. the Federal Trade Commission has taken a stance on the “free” model and said that the receipt of any funds before the service is performed is a violation and a deceptive practice.

    Is that not a problem in Canada?

  • Steve Rhode

    Since I am not familiar with Canadian rules as I am with other countries, are you aware if there is guidance on the use of a “cleaned” credit report for future credit? In the U.S. the use of a cleaned credit report is illegal if you are hiding factual but negative information.

  • Scott R

    your video says you can have a “clean credit report” but as a former banking management myself in canada a settlement of a debt remain for 6 yrs as an R9 from date paid and of course that is a major negative

  • Sheldon

    “Canada Credit Fix claims to be able to remove accurate but negative information from your credit report in Canada.”

    I just noticed that the article above reads that we are able to remove accurate but negative information. That statement is simply not true nor is it a claim we have ever made. We help people get accurate and compliant credit. That said in many cases true negative credit that was accurate has passed its purge date and we would then help a consumer with its removal. Many times information may be accurate however the data is non compliant with the Credit Reporting Act or simply recorded incorrect.

    We are very clear with all of our members and only help with legitimate disputes or violations.

  • Sheldon

    “Canada Credit Fix claims to be able to remove accurate but negative information from your credit report in Canada.”

    I just noticed that the article above reads that we are able to remove accurate but negative information. That statement is simply not true nor is it a claim we have ever made. We help people get accurate and compliant credit. That said in many cases true negative credit that was accurate has passed its purge date and we would then help a consumer with its removal. Many times information may be accurate however the data is non compliant with the Credit Reporting Act or simply recorded incorrect.

    We are very clear with all of our members and only help with legitimate disputes or violations.

    • http://www.debtcoach.ca Scott R

      your video says you can have a “clean credit report” but as a former banking management myself in canada a settlement of a debt remain for 6 yrs as an R9 from date paid and of course that is a major negative

      • http://GetOutOfDebt.org Steve Rhode

        Since I am not familiar with Canadian rules as I am with other countries, are you aware if there is guidance on the use of a “cleaned” credit report for future credit? In the U.S. the use of a cleaned credit report is illegal if you are hiding factual but negative information.

      • http://www.debtcoach.ca Scott R

        Steve from 25+ years in senior management with a Canadian bank I know for a fact that accurate but negative items are NOT able to be removed without a court order. The purge rules of Equifax and Trans Union Canada are pretty clear. For instance any settled debts appear as bad debt (I9 or R9) for 6 years even after a collection of charged off account is paid or settled and this 6 years is from date paid or settled or paid or last actrivity on the account. Obviously impact negatively a consumer’s credit score to settle but sometimes it MAY be the only option. Non profit credit counselling appears on Equifax and Trasnb Union as R7 for two years after the final payment in a debt management plan -whcich are generally 4-5 yrs in Canada of paying back full amount owed at reduced rates. Consumer proposal (equivalent of chapter 13 bankruptcy) are administered by law only by bankruptcy trustees under Canadian federal law (bankruptcy and insolvency act) appear as R7 for 3 yrs after completion which depending upon terms can be a few month to 5 yrs. Bankruptcy remains for up to 7 years from date of discharge (completion) depending upon province for a first time bankrupt and for up to 14 yrs for a 2nd time bankruptcy. At this time there are no laws in Canada pertaining to informal debt settlement other than if you hold clients funds certain provinces like Ontario require a firm doing settlements to be licensed and bonded under the collection agency legislation. Trust that helps clarify matters.

      • http://GetOutOfDebt.org Steve Rhode

        Scott,

        Thank you. It looks like Canada is still using the old format I am familiar with in the U.S.

        Any rules you are aware of in Canada about using a credit report to apply for new credit if you have engaged in having negative but accurate information removed to artificially improve your credit report/credit score. Is that considered credit fraud in Canada?

        Just to be clear it looks like Canada is still using the R9 reporting for derogatory items from the date of last activity and not the date first reported delinquent as we now do in the U.S.

        The U.S. used to have the same problem on the R7 which reflect both bankruptcy and credit counseling.

      • http://www.debtcoach.ca Scott R

        Steve as far as I know there are no rules in Canada about using a credit report to apply for new credit if you have engaged in having negative but accurate information removed to artificially improve your credit report/credit score. In Canada each province has its own legislation it as pertains to credit reporting. Any fraud related activity would come under federal law. Ontario -the province with largest population-does have legislation that prohibits charging upfront fees for “credit repair” due to many “scams” reported by media in the past. Equifax and Trans Union are pretty clear as to their process to investigate errors and under law must investigate all requests from consumers to confirm if info reported by lenders is correct or not generally within 30-60 days of receipt of receipt of the inquiry and if it is an error or if the lender does not reply immediately remove the item in error.

    • http://GetOutOfDebt.org Steve Rhode

      Well actually your promotional video does say:

      “Wish that bankruptcy would vanish, wish that bad credit would just go away, tired of those collections showing up on your Equifax report. Have our experts help you clean your credit.” “Have our experts help clean your credit for you.”

      That certainly gives people the impression you are actively involved in removing all negative information.

      • Ron

        It is very misleading, I agree.

    • http://GetOutOfDebt.org Steve Rhode

      Well actually your promotional video does say:

      “Wish that bankruptcy would vanish, wish that bad credit would just go away, tired of those collections showing up on your Equifax report. Have our experts help you clean your credit.” “Have our experts help clean your credit for you.”

      That certainly gives people the impression you are actively involved in removing all negative information.

  • Sheldon

    Thanks for posting this feature on my company and allowing me to clarify a few things. Firstly, our credit repair and debt settlement service is actually “free” to all of our members. We have made those programs free as we do not feel our members should have to suffer with errors on their credit reports that in many cases were sot their fault and in many cases simply just sloppy reporting. Our memberships do include value bundled programs such as Identity Theft Insurance, Credit Analytics, Credit Rebuilding and Credit Monitoring. More importantly the public needs to be aware that there is no company inclusive of mine that can legally remove any information from a third party credit report, in fact any company that claims that they have the ability to do so is simply either lying or breaking the law. Companies such as Equifax and TransUnion are pretty much the only ones that have access to their own systems and by law must respond to all disputes.
    We handle credit repair and debt settlement in the form of dispute and resolution and help our customers gain fair and accurate credit. Most of our clients are victims of errors, false data, purging deficiencies or compliance violations. Many other credit restoration clients of ours are simply victims of Identity theft and credit fraud. We have the capacity and legal expertise with my on staff specialists to handle restoration of almost any credit mishap. Please understand that it is not our view that people are entitled to have bad credit removed from their credit report, but it is our belief that people should have accurate credit all the time. It is also our view that their needs to be amendments to the Credit Reporting Act and also the Consumer Protection Acts as people are growing frustrated with the headaches of having to fight to remove errors and outright misinformation from their credit reports and they are sick of the run around they typically get. People simply pay for, and suffer as a result of the credit reporting errors when they are either declined for their loans or end up with higher rates and payments as a result. Be clear we do not assist people who simply want their true bad credit to disappear and in many cases we turn away a great deal of business for those that request such.
    Our debt settlement programs are simply a win for both the consumer and the creditor. To this date we have helped many Canadians avoid bankruptcy with an alternative solution that most citizens are not even aware of. Most creditors and collectors would agree with the term that “Something is better than nothing”. Many of our customers literally call us the day before they were scheduled to meet their Bankruptcy Trustee and thought they had no other choice or alternative. The negotiations are non hostile and in fact most lenders, creditors etc. are happy to hear from us and pleased to come to a resolution with with the customers. Through our process and relationships with lenders many of our settlements are heavily discounted to 30 to 50% of the outstanding amount and some have been settled as low as 10 cents on the dollar. However the public needs to be aware that not all debts and loans can be settled for that low and many of our customers simply don’t even request a discount. Many of our customers simply want to rebuild the fallen relationship with the lender of the defaulted debt, and simply ask that they can pay deficiencies in acceptable installments. Our typical Debt Settlement customer is NOT trying to burn the lender or creditor or avoid paying, in fact it is quite the opposite; much the reason they chose to use our services opposed to bankruptcy. Many of our clients may have recovered from illness or economical hardships and simply want to get their affairs back in order. Many of our clients simply don’t want the stigma of going bankrupt. Either way all of our customers are simply trying to improve the fabric mesh of Canadian consumerism in a flailing economy. It is my belief that this a healthy consumer creates a healthy economy one person at a time.
    We are very proud of the services we offer and my credit lab is made up of very experienced professionals. We have positively impacted the lives of many Canadian families and our true goal is to help create awareness to fair and accurate credit reporting practices as well as responsible fiscal habits. It is our view that a fiscally educated Canadian makes the best consumer and keeps our country strong.
    Once again I thank you for helping bring awareness to our programs as many Canadians simply have no idea of the alternative available. Please feel free to contact me directly for further information on our programs or other topics related to our company. 403-279-3646

    Sheldon Wolf

  • Sheldon

    Thanks for posting this feature on my company and allowing me to clarify a few things. Firstly, our credit repair and debt settlement service is actually “free” to all of our members. We have made those programs free as we do not feel our members should have to suffer with errors on their credit reports that in many cases were sot their fault and in many cases simply just sloppy reporting. Our memberships do include value bundled programs such as Identity Theft Insurance, Credit Analytics, Credit Rebuilding and Credit Monitoring. More importantly the public needs to be aware that there is no company inclusive of mine that can legally remove any information from a third party credit report, in fact any company that claims that they have the ability to do so is simply either lying or breaking the law. Companies such as Equifax and TransUnion are pretty much the only ones that have access to their own systems and by law must respond to all disputes.
    We handle credit repair and debt settlement in the form of dispute and resolution and help our customers gain fair and accurate credit. Most of our clients are victims of errors, false data, purging deficiencies or compliance violations. Many other credit restoration clients of ours are simply victims of Identity theft and credit fraud. We have the capacity and legal expertise with my on staff specialists to handle restoration of almost any credit mishap. Please understand that it is not our view that people are entitled to have bad credit removed from their credit report, but it is our belief that people should have accurate credit all the time. It is also our view that their needs to be amendments to the Credit Reporting Act and also the Consumer Protection Acts as people are growing frustrated with the headaches of having to fight to remove errors and outright misinformation from their credit reports and they are sick of the run around they typically get. People simply pay for, and suffer as a result of the credit reporting errors when they are either declined for their loans or end up with higher rates and payments as a result. Be clear we do not assist people who simply want their true bad credit to disappear and in many cases we turn away a great deal of business for those that request such.
    Our debt settlement programs are simply a win for both the consumer and the creditor. To this date we have helped many Canadians avoid bankruptcy with an alternative solution that most citizens are not even aware of. Most creditors and collectors would agree with the term that “Something is better than nothing”. Many of our customers literally call us the day before they were scheduled to meet their Bankruptcy Trustee and thought they had no other choice or alternative. The negotiations are non hostile and in fact most lenders, creditors etc. are happy to hear from us and pleased to come to a resolution with with the customers. Through our process and relationships with lenders many of our settlements are heavily discounted to 30 to 50% of the outstanding amount and some have been settled as low as 10 cents on the dollar. However the public needs to be aware that not all debts and loans can be settled for that low and many of our customers simply don’t even request a discount. Many of our customers simply want to rebuild the fallen relationship with the lender of the defaulted debt, and simply ask that they can pay deficiencies in acceptable installments. Our typical Debt Settlement customer is NOT trying to burn the lender or creditor or avoid paying, in fact it is quite the opposite; much the reason they chose to use our services opposed to bankruptcy. Many of our clients may have recovered from illness or economical hardships and simply want to get their affairs back in order. Many of our clients simply don’t want the stigma of going bankrupt. Either way all of our customers are simply trying to improve the fabric mesh of Canadian consumerism in a flailing economy. It is my belief that this a healthy consumer creates a healthy economy one person at a time.
    We are very proud of the services we offer and my credit lab is made up of very experienced professionals. We have positively impacted the lives of many Canadian families and our true goal is to help create awareness to fair and accurate credit reporting practices as well as responsible fiscal habits. It is our view that a fiscally educated Canadian makes the best consumer and keeps our country strong.
    Once again I thank you for helping bring awareness to our programs as many Canadians simply have no idea of the alternative available. Please feel free to contact me directly for further information on our programs or other topics related to our company. 403-279-3646

    Sheldon Wolf

    • http://GetOutOfDebt.org Steve Rhode

      Sheldon,

      Thank you for posting. In regards to your settlement services. Can you provide me to a link to your performance data that shows the results of those clients you have serviced. You can see an example of such a link, here.

      I am not as familiar with the rules in Canada but in the U.S. the Federal Trade Commission has taken a stance on the “free” model and said that the receipt of any funds before the service is performed is a violation and a deceptive practice.

      Is that not a problem in Canada?

      • Ron

        Steve, this is a problem in Alberta where this company operates. There is a limitation on the fee (10%) and when it can be collected (after settlement arranged). I called this company and spoke to a consultant, the whole story I got seemed deceptive and shady. They didn’t clearly answer questions and disclose facts. I wonder what their BBB report looks like…

      • http://GetOutOfDebt.org Steve Rhode

        Thanks for the information. Glad you made the call.

      • Ron

        Oh I forgot to mention the same is true for credit repair throughout Canada, you cannot charge a fee without first proving you have repaired the consumers credit. It’s not a viable business model in Canada, but Sheldon seems to think he has found a way around it by charging “membership fees”… that practice will only last so long before complaints pile up and shut him down.

      • http://GetOutOfDebt.org Steve Rhode

        I agree. It’s not sustainable.

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