In this video I go over when to use the equity in your home to refinance and pay off your credit card debt
Are Not-For-Profit Credit Counselling Agencies Now Just Debt Collectors? – Debt Free In 30 – A Personal Finance Podcast. A debt collector does just what the name suggests: they collect on unpaid debt. They won’t review all your debt relief options with you or give you a plan that makes debt repayment realistic and affordable. Their only goal is to recover as much debt for the creditor as possible. That’s how their business makes money.
You might be shocked to learn that not-for-profit credit counselling agencies are now operating the same way. In fact, they are formally registered with the Ontario government as debt collection agencies. Credit counselling agencies have changed. Most are no longer registered charities. Credit counselling agencies don’t do a lot of budgeting or actual counselling anymore either. Credit counselling organizations in Canada today are big, national call centers. Now when you call a credit counsellor, you’re sold a debt management plan (DMP), where you repay 100% of the debts you owe, but with a lowered interest rate. Credit counselling companies sell this regardless of whether that’s the right course of action for you because they are sponsored by financial institutions to do so.
We take a deep look at why not-for-profit credit counselling agencies have become nothing more than debt collectors. We also examine the implications for you as a debtor in need of help.
Raymond is behind on his child support, has student loans, and some other debts totaling to over $100,000. He calls Dave for advice on how to get out of this mess.
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More info at http://www.debtcounsellinghelp.co.za or
call us at: 076 514 3756 (in South Africa)
We will notify the National Credit Regulator and all your creditors that you have applied for Debt Counselling as soon as we receive your completed form 17 application form via fax or email.
The NCR will then notify all credit bureaus that you are in debt counselling. When someone does a credit check on your profile, they will see that you are in debt counselling. Under ‘notes’ on your credit file is will state ‘under debt review’.
Creditors may not give you credit when they see this note on your credit file.
When you completed your debt counselling, the note will be removed from your credit file. We will notify the NCR and credit agencies that you are debt free and they will remove the note from your file.
You are now free to apply for credit again.
CAJ Mediation group attempting to conduct a credit card scam. Sounds like they are based out of Jamaica or some other Caribbean island.
Here is the phone number: 1-844-622-8179
Please inform your friends and family, especially those who are older. These people are ruthless and will not stop. This has been occurring for months despite me giving them a hard time whenever they call
My phone stopped recording half way through. Basically, this individual told me that I could settle with a credit card, so I gave him a BS number and asked if he was a scammer… He said no. I then told him that I was well aware that they were scammers and that I’d be forwarding their number to the authorities. I swore a bit at the end too… Wish you all could have heard that!
Notice how nervous he seems. He cannot tell me where this loan originates from.