If, like many Canadians these days, you have financial problems and calls from creditors be careful who you seek help from -- especially if you live in places like British Columbia, Canada.
Many persons have sought help from Consumer Credit Counselling Agencies only to have these agencies take a lot of money from them and still leave them with the original, or close to the original debt load.
The problem, reportedly, is that the consumer counselling profession is not regulated here and far too many of these credit counselling agencies do not repay creditors properly.
In one case a family with approximately $60,000 00 in debts paid one of these agencies close to $48,000 over two years only to find that they still owed a huge amount to creditors.
Far too many persons fall into the traps set by the agencies because of being hounded by collection agencies who demand "full payment on a debt of $11,000.00 when the person can not even afford the regular monthly payments.
But if you are in this position. Stop, educate yourself about the local consumer protection act and plan your response to your financial crisis carefully with the help of reputable agencies. Some of these, although based out of your area can still help you.
For additional information on yours rights as a consumer and debtor in B.C. look up the Business Practices and Consumer Protection Act.
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