The Financial Consumer Agency of Canada (FCAC) today (January 10, 2012) issued a Consumer Alert on debt reduction companies. FCAC is warning Canadians: Be very cautious about companies that claim they can negotiate a deal with your creditors so that you will have to pay only part of your debt. This process is often called “debt reduction,” “debt settlement,” “debt relief” or “debt negotiation.”

Consumers who are looking for information on dealing with their debt will find tips on getting out of debt on FCAC’s website at fcac.gc.ca.

You can see the full press release at this link.

For more information cautioning consumers please refer to this link.

This entry was posted on Tuesday, January 10th, 2012 at 11:44 am and is filed under Canadian Bankruptcy News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.