Im Dealing With A Company That Promised To Cut My Credit Card Debts In Half The

Hello, Unfortunately, the problem you are encountering is not uncommon.  In recent years a number of companies have emerged claiming to cut credit card debts, stop harassing phone calls, protect credit rating etc..  In many instances people have paid considerable money up front, only to find that some or all creditors were unwilling to participate in the plan, that the process did not work and collection efforts continued, and in the end there was no accounting for the funds paid in.  In January of 2012  the Financial Consumer Agency of Canada issued a consumer alert warning of the pitfalls of dealing with debt reduction companies. You might consider meeting with a Licensed Trustee in Bankruptcy / Proposal Administrator to discuss your situation further.  These individuals also hold the professional designation of Chartered Insolvency and Restructuring Professional (CIRP) and typically provide a free, no-obligation assessment of your financial situation that helps you explore and consider all of the options available in relation to your own unique situation. Bankruptcy is not the only option provided by Trustees.  Other options include a consumer proposal, orderly payment debt (available only in certain provinces), or perhaps your issue is one that requires debt counseling or development of budgeting skills.  In summary, the assessment will provide you with the foundation to make a proper decision on how to move forward. Only a Trustee in Bankruptcy / Proposal Administrator licensed by Industry Canada can provide solutions to debt problems that include a formal, legislated stay of proceedings that protects you from garnishment, stops creditor calls and other collection efforts. Brad Milne, MA CIRP Trustee in Bankruptcy / Proposal Administrator Brandon, Manitoba