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May 072012

Consumer alert about debt settlement - Ontario Ministry of Consumer Services 

Category : Debt settlement companies, Consumer Proposals

In the wake of an increasing number of complaints about companies offering debt settlement services, the Ontario government has released an alert with some important advice. The government says the majority of complaints relate to excessive fees, misleading contracts and the failure to successfully reduce debt. 

If you are thinking about using a debt settlement company, review the government’s tips and information before meeting with them to make sure are aware of your rights and help you plan what questions to ask.    

If you are interested in reducing the amount you owe, a consumer proposal is another alternative. A consumer proposal can also settle you debt for less, and offers other benefits imcluding legal protection from creditors actions such as debt collection calls or wage garnishments. Check out our comparison of a debt settlement plan versus a consumer proposal.

If you need help with debt and want an objective, no obligation consultation, contact a BDO office near you. We'll review your situation and provide information on all of your options to help you make an informed decision.​

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