Consolidating debt canada trust
You can also call the Consumer Protection authority in your province, tell them about the company and program you're thinking of going with, and see if everything sounds okay to them.If they're aware of problems with the company or program you're looking at, they'll caution you or steer you in another direction.However, all have now abandoned it except for Alberta.In Alberta, Money Mentors, a non-profit credit counselling service, administers the program.Major financial institutions such as TD Canada Trust, the Royal Bank of Canada, and others offer consolidation loans to their customers.
A local restaurant needs a government license to operate, but it would be misleading for them to advertise that their food or service is “government approved.” Banks are governed in Canada by the , but that doesn’t mean it would be appropriate for them to start advertising that their services are “government approved.” The following programs are often used for consolidating credit card debt that people can This program used to be offered by many provincial governments across Canada.
Most provinces abandoned the Orderly Payment of Debts program because non-profit credit counselling organizations were doing a good job serving the public with their Debt Management Programs.
Many provinces have now updated their consumer protection laws to include debt settlements.
What you need, though, is someone in your province who can objectively help you look at all of them and find which one is going to do the best job of helping you achieve your financial goals.
We offer some more tips here on how to find a quality agency to help you work through your options: