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.

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/licensed-insolvency-trustees/adverse-effects-of-the-debt-advisory-marketplace-on-the-insolvency-system

The Adverse Effects of the Debt Advisory Marketplace on the Insolvency System

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/licensed-insolvency-trustees/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

https://www.hoyes.com/blog/use-of-debt-consultants-questioned-by-office-of-the-superintendent-of-bankruptcy/

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/