Debt Relief Industry International Debt Sued or Sanctioned

Debt Relief Company Options Debt Consolidation Canada Hits Rough Patch

Written by Steve Rhode

The Vancover Sun is reporting a situation which sounds familiar in the U.S. as well regarding Options Debt Consolidation Canada and Options Credit Canada.

Apparently Options Credit was selling agents or franchise owners a magnificent debt relief business opportunity where they would receive “with real-time leads and the ongoing support and management necessary to qualify prospective clients and to generate revenue for his business.”

But in a number of lawsuits filed by unhappy purchasers of these affiliated debt relief businesses all they allegedly got was unqualified and worthless leads.

The quality of the referrals that I did receive was very poor. Most people I contacted advised me they had never expressed interest in the company’s services at all or that they had done a cursory search on a website several months previously.

Other referrals I contacted advised me they had already been contacted by someone at the company and had decided against using the services of the company or had been already advised by a representative of the company that they did not qualify for the service. Numerous people I contacted were quite hostile about being contacted as they felt I was harassing them. – Source

According to unhappy affiliates, Options Canada promised big rewards and earnings of up to $300,000 over a three or four year period. The investment to get in to this debt relief franchise, only $15,000.

“Richard Goosen of Richmond filed a similar lawsuit against Options Credit Services Canada Ltd. in Chilliwack small claims court in June 2011.

Goosen claimed that in November 2010, after answering an ad on Craigslist, he met with Antle and his wife, Karen.

oopsHe said Antle promised to provide training, website support, customer leads and all the necessary government permits. (Companies and individuals who sell debt-pooling services must be licensed by Consumer Protection B.C.) He said Antle told him he could expect $75,000 in revenues in the first year.

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He said he immediately paid $15,000 plus HST and agreed to pay another $10,000 within two years. However, after three months, he had received only “meagre” training and support and only 12 leads, of which only one was a “live” lead. He demanded his money back.

Antle denied the allegations and counterclaimed for the $10,000 balance, but he failed to appear at the court hearing. The judge decided in Goosen’s favour, but he was unable to collect. In a payment hearing in August 2012, Antle claimed the company was insolvent.”

Sadly, this sounds oh so familiar to many of the hit and run debt relief business opportunities sold in the U.S. between 2009-2011. I can’t imagine how many people bought in to those similarly advertised debt relief business opportunities on Craigslist, only to lose money.

In the U.S. the common sales pitch was your could buy a “branch office” of an advanced fee debt settlement company and the money would just roll in.

That wasn’t the case in the U.S. and apparently that’s not what happened in Canada either.

If you’d like to read the full Vancouver Sun article, click here.


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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.

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