In this episode of Debt Free in 30, Doug and Ted discuss the ongoing battle against unregulated debt consultants. They dive into the recent developments, including the conversation with Superintendent of Bankruptcy Elisabeth Lang and the release of a comprehensive position paper. The paper exposes the deceptive practices of these consultants, who have cost consumers a staggering $21 million in fees over the last two years! Doug questions the effectiveness of government actions while providing practical tips to avoid falling prey to debt relief scams.
Related Links:
Position Paper on the Adverse Effects of the Debt Advisory Marketplace on the Insolvency System.
The Adverse Effects of the Debt Advisory Marketplace on the Insolvency System
OSB Statutory Complaint Portal
https://www.ic.gc.ca/eic/site/bsf-osb.nsf/frm-eng/LSMH-BB2MMW
Competition Bureau’s Complaint Form
https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/frm-eng/GH%C3%89T-7TDNA5
Debt Consultants: Why You Should Avoid the Extra Cost
https://www.hoyes.com/blog/debt-consultants-why-you-should-avoid-the-extra-cost/
The Problem with Debt Consultants
https://www.hoyes.com/blog/the-problem-with-debt-consultants/
Debt Counsellors and Debt Coaches - Real or Scam?
https://www.hoyes.com/blog/debt-counsellors-and-debt-coaches-real-or-scam/
Use of Debt Consultants Questioned by OSB
Debt Consultants or Licensed Insolvency Trustees? Who to Trust
https://www.hoyes.com/blog/debt-consultants-or-licensed-insolvency-trustees/
The Cold-Hard Truth About Unlicensed Debt Consultants
https://www.hoyes.com/blog/the-cold-hard-truth-about-unlicensed-debt-consultants/
