Debt Relief Industry

Canadian Debt Relief Company: Top Five Reasons to Avoid American Debt Settlement Companies

Thanks to a great tipster (send in your tips here) I found out about an article published by Total Debt Freedom in Canada.

The blog post warns readers to avoid American companies that are headed into Canada to sell debt relief services. Here are the five reasons:

  1. Canadian creditors sue more often than American creditors.
  2. American debt settlers have little to no relationships with Canadian creditors.
  3. American debt settlers are not licensed and bonded here.
  4. The American debt settlement industry has a very poor reputation in general.
  5. American debt settlement fees can be expensive.

I must say, the regulation and compliance issue is one that has not been learned by many U.S. companies, even in the U.S.

The author says that from his Canadian point of view, ” I checked with the Ontario Ministry of Consumer and Business Services, and none of the companies I called have paid bonds and licenses or passed the test to settle debt in Canada.” That problematic for sure.


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READ  U.S. Debt Settlement Gobbles Up American Debt Control



About the author

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.

4 Comments

  • That’s a different Total Debt Freedom with the same name in the USA. Total Debt Freedom in Canada is a full service Canadian Debt Settlement company that only services Canadians and they have been operating in Ontario since 2004. It is illegal to service Canadians without the proper licensing and bonding so you have basically two options- become a Canadian citizen and reside in Canada and obtain the proper licensing and bonding OR partner with a licensed Canadian company. Of course thats if they will do business you…. good luck with that.

  • Total Debt Freedom was a front end for square one or debtrem, one of the two.. They both charged up front. So I guess American companies aren’t good enough to enroll a client but good enough to service..

  • Total Debt Freedom was a front end for square one or debtrem, one of the two.. They both charged up front. So I guess American companies aren’t good enough to enroll a client but good enough to service.. 

    • That’s a different Total Debt Freedom with the same name in the USA. Total Debt Freedom in Canada is a full service Canadian Debt Settlement company that only services Canadians and they have been operating in Ontario since 2004. It is illegal to service Canadians without the proper licensing and bonding so you have basically two options- become a Canadian citizen and reside in Canada and obtain the proper licensing and bonding OR partner with a licensed Canadian company. Of course thats if they will do business you…. good luck with that.

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