I was talking with a high ranking source in Canada inside the debt relief industry. They mentioned the number of debt settlement ads on radio and television have disappeared. The days of heavy debt settlement marketing in Canada are gone.
They also said their contacts at national creditors in Canada are reporting new debt settlement proposals have dropped by about 80 percent or more.
On top of this, the new Ontario debt settlement legislation should limit more business in the most populated province. See this article for details.
It seems the wave of debt settlement providers that swarmed to Canada after the advance fee bank are no longer able to survive up there as well.
The initial strong wave of debt settlement advertisements in Canada cleared out any demand for the service which has left leaner times and less consumers with problem debt.
Search trends in Canada also show the rise and fall of debt settlement there.
Debt Settlement in Canada Drying Up Quickly by Steve Rhode
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