Wednesday, April 29, 2015

Victoria, BC Debt Consolidation Expert on a Badly Needed Regulation

When fish aren’t biting in one spot, the sensible thing to do is to move to another. That’s exactly what financial sharks have been doing following the U.S. recession. Times Colonist reporter Les Leyne wrote that bogus debt settlement services have made their way into Ontario and British Columbia after markets south of the border dried up. Such shady practices can range from massive upfront fees to refusing to begin negotiations. Over the past five years, Consumer Protection B.C. received less than 100 calls a year regarding the legitimacy of such debt settlement services. Now, the Credit Counselling Society of B.C. reported receiving as much as 200 calls a month. Something had to be done.

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