Consumer Debtor Protection of Canada Ltd.

[buffalosoldier]

I've been contacted by a company offering to reduce my debt by 70% and reduce my interest to 0%. They said they would bring my debt from $40,000 down to $12,000 and set me up with monthly payments of $200 for 60 months. There is an upfront cost of just over $2300 for the service (I wish they mentioned this part at the beginning of the call). Is this a scam? They claim to administer government programs and have A+ rating from the BBB. Their name is Consumer Debtor Protection of Canada Ltd.

[Stephen81]

I'm assuming once they saw your car rental post they knew they had a kill-shot lined up lol. Maybe someone else can chime in, I've never heard of them though.

[J.M.]

You just keep making new threads, are you actually following any of the advice from your first thread? There was a ton of good useful info posted in that one.

I've never heard of these guys.

[pheoxs]

Do they physically own your debt? Like have you stopped paying, it went to collections, and they are the one collecting it? If so then you can sometimes negotiate a lower amount to pay because they buy debt for pennies on the dollar and are trying to get as much out of it as they can and something is better than nothing.

If they are just saying they'll reduce your credit card / auto loan / student loan / etc debt they are so full of shit and are just trying to scam you out of the initial fee.

As above, have you actually done anything to correct your situation or are you just trying to find an easy way out? We came up with a 1-2 year way to get totally out of debt, so it's not like you're crazy underwater and need to look at bankruptcy ... its seeming more like laziness and refusal to change your lifestyle.

[buffalosoldier]

http://www.cdpcl.com/

[ExtraSlow]

Mr Soldier, if you want our advice, it's in that first thread. Or several of us have offered to assist you on a one-on-one basis for free, without a $2300 fee.

If you aren't interested in our free advice, then please stop making new threads.

[J.M.]

From your first thread:


Originally posted by buffalosoldier
Hello,

I need some advice. I'm drowning in debt and I don't know where to turn. My debts include:

Car loan: $10,000
School: $ 5,000
Personal loan: $11,000
Credit cards: $ 3,000


How did you go from $29k in debt to $40k 2 months later. Either you got some serious spending problems or troll..

[Sugarphreak]

...

[Disoblige]

I just googled some stuff for you. If you're looking to consolidate your debt, why not talk to the non-profit ones? Maybe then you don't need to fork $2300..

http://www.nomoredebts.org/canada/alberta/calgary/credit-counselling.html

To be honest, sure this guy is in a lot of debt, but at least he's not some stuck up piece of shit child that gets everything handed to him. He's paying rent, and his own things. Much more respect to him than 20+ year olds that still have their parents pay their cell phone bill for them :facepalm:

[buffalosoldier]

Thanks for the link, I'll call them on Monday. Will a 'consumer proposal' reduce my debt quicker than credit counselling?

[nickyh]

These guys will charge you $2300 to send you to someone who will do this exact thing for free.
Do some better research esp. since that $2300 would go a long way on the current debt.

[tpurcell4]

Originally posted by buffalosoldier
Thanks for the link, I'll call them on Monday. Will a 'consumer proposal' reduce my debt quicker than credit counselling?

Don't go into consumer proposal if you can avoid it. If you want to spend money to try to fix your situation I would first try Canada Credit Fix (403) 279-3627 and ask for Linda and tell her Todd gave you her info. Not sure if they are the right place for you at this time, but they don't report as a credit counseling agency on your bureau or as a proposal. They are a hub of ex Collection agents from various banks and other institutions and they negotiate your debts owed on your behalf or if a bank has registered a collection on your bureau falsely they can have it removed completely. We typically use them for people who have several collections and need to get in a better place with their credit. As an example of what they have done for our clients in the past, a gentleman had a repossessed vehicle showing on his credit. Bank repossessed his car because he had called in looking for the payout amount as he was considering going back to home country. They thought he was going to walk away from the debt so they took the car, sold it and registered a collection for the money they fell short on from the sale. Linda had the collection removed as if it never happened and got the client the money back from the settlement he made with the bank (one of the big 5). They charge $700 for this service.

From reading your threads I don't think you need this yet, but there are better options than what you have posted hear and for less money.

Keep your money for now and focus on paying off your debts through other means. If you want to sit down to discuss I would be happy to meet for coffee.

Todd

[A790]

^^^

Meet with Todd. An excellent financial mind and a good guy to boot.