We get a lot of great debt questions from our readers. In this post we’re going to share some of the best and most common debt questions we receive, along with our answers, so read on to find out what everyone wants to know!
People are often confused about what debt consolidation is, exactly. Is it a loan? Is it writing off my debt? Is it borrowing against my home? Debt consolidation through Solutions Credit Counselling is actually none of these.
March 25, 2014
March 25, 2014 Consumer Protection BC announced it has cancelled the licence of Options Credit Services Canada Ltd., owned by Don Antle, after an investigation revealed several breaches of the Business Practices and Consumer Protection Act and the Debt Collection Industry Regulation.
The old joke about the sure things in life used to refer to death and taxes. I think we need to add consumer debt to this list. Certainly if one considers the irrefutable fact that Canadians have borrowed more and more money each and every year – from $20 billion in the 1970s to the current outstanding consumer debt of $516 billion today. Debt is just as predictable as death and taxes.
Last week I tried to talk about the various experts involved in debt collection and credit counselling. You know what? I forgot all about credit reporting agencies, otherwise known as Credit Bureaus.
It is with a heavy heart that I read in the Vancouver Sun today about a financial adviser who targeted as many as 484 investors, many of them seniors, in an investment scheme alleged by the BC Securities Commission to have been premised on fraud and misrepresentations.
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