Tag Archives: canada

Canada’s Largest Province Working to Ban Advance Fee Debt Settlement

Hey Canada, better late than never, eh? Tracy MacCharles, the Minister of Consumer Services, stated today, “Ontario consumers need to have confidence that they’re getting what they pay for when purchasing debt settlement services. We’re going to introduce legislation that would protect some of our most vulnerable consumers from being taken advantage of, at a [...]

I Live in Canada But Back in Debt Again. Help! – Lisa

“Dear Steve, Hi Steve, My bankruptcy drops off my credit report in June (my 7 years is up) but because of medical problems that my daughter and I have had in the last 3 years I have some bills in collections (none are credit cards) now and I am so afraid of this whole situation [...]

I Moved to the UK From Canada But Left Debt Behind. – Anna

“Dear Jon, I moved to the uk from Canada to work. lived there for nine years. year and half ago dad died suddenly and moved back to Canada to help support mom. I want to go back to the uk to just visit friends for two weeks. when I arrive is there any chance custome/immigration [...]

Ontario Canada to Implement Advance Fee Ban for Debt Settlement

Ontario Canada has announced new pending regulations to catch up with other provinces to protect consumers from advance fee debt settlement companies. The Minister of Consumer Services, Margarett Best said, “There is evidence of harmful practices used by some debt settlement companies and that is why our government is taking steps to protect consumers. We [...]

Nova Scotia, Canada Cracks Down on Debt Settlement Companies

Nova Scotia, Canada has recently introduced new legislation to help protect consumers from debt relief companies and rogue debt collection companies. The Debt Collection and Management Reform (2012) Act will target debt relief companies that make disturbing marketing practices and unachieved promises. It will also target debt relief companies that charge advance fee or up-front [...]

Canadians In Trouble – “Half of Canadians are Living Paycheque to Paycheque”

For those living in the United States, while we’d like to think at time the world should revolve around us and we should be the center of everything, when it comes to mastering consumer debt, that’s not true. Consumer debt problems exist in every single nook and cranny of the earth. The early warning signs [...]

Canada Concerned About Exploding Consumer Debt Becoming a Drag

Consumer debt levels in Canada continue to grow, creating a concern for the Bank of Canada. It’s a tightrope to encourage Canadians to spend to stimulate the economy and help improve the general economy in Canada and act prudently in order not to run up household debt to problem levels. As Canadian households have engaged [...]

I Left Debt in Dubai and Now in the Philippines but Headed for a Job in Canada

“Dear Steve, I work in dubai for 3 years from 2004 to 2007, then left due to credit cards and personal loans I cannot pay due to high cost of living in dubai, I’m here in the philippines and applying for a job in canada which luckily got an offer and start to process my [...]

I’m a Client of a Debt Settlement Company in Canada But Debt Collectors Are Still Calling Me. – John

“Dear Steve, Debt settlement company in Canada send a power of attorney via fax to a collection agency, and I am still receiving phone calls as they stated that the debt settlement company is not a lawyer If you hire a debt settlement company in Canada and they forward a power of attorney to the [...]

Go Ahead, Take a Guess Which Countries Have the Most Credit Card Fraud

Now here is a study that will probably surprise some people. A recent survey by the Aite Group and ACI Worldwide of consumers who experience credit card fraud found some countries are much more at risk of consumers having their credit cards used fraudulently. As someone who has lived and travelled to many countries outside [...]

Canadian Cambridge Life Solutions Draws More Unwanted Attention With Alleged Links to Past

A reader sent in a tip about a recent article out in Canadian Business about the debt settlement efforts in Canada. Here are some excerpts: “The most visible of the new firms, Cambridge Life Solutions, launched a marketing campaign during the past year on radio, television and the Internet. It’s fronted by Ontario-born actor and [...]

Canada BBB Debt Settlement Warning Both Helps and Hurts Consumers

I’m at odds about some of these blanket warnings to consumers about debt settlement. This time it is from the BBB out of Canada. I completely understand that there have been and still are some debt settlement companies that take advantage of consumers with bad advice and front-loaded fees. Those warnings need to get out [...]

Canadians Turning Away From Debt. Debt Growth Down 30 Percent.

It will be interesting to see what happens to the wave of U.S. debt settlement companies that ran north of the border in the last year or so trying to capture Canadians in advanced fee debt settlement programs. It seems Canadians are slowing demand for new credit, the Equifax Canada reports. The growth in Canadian [...]

Moved to Canada from Dubai but Left Debt Behind. Collectors Threatening to Deport Me to Philippines

“Dear Steve, Two (2) years ago I moved here in Canada from Dubai, UAE leaving around AED 85,000 of credit card and personal loan liabilities, which now has an outstanding balance of AED 110,000. I accumulated this amount of credit since I lost my job twice. The first one is for six months and second [...]

Nova Scotia, Canada Debt Settlement Protection Act

Nova Scotia has introduced the Debt Settlement Protection Act and it had the first reading on April 26, 2012. The act states: Be it enacted by the Governor and Assembly as follows: 1 This Act may be cited as the Debt Settlement Protection Act. 2 In this Act, (a) “agent” means a person employed, appointed [...]