Creditaid President and CAICCA Vice Chair Brian Denysuik was recently interviewed by The Province on the need for the BC government to adopt changes in their debt management legislation. The province has the highest rate of consumer debt in the country but current legislations leave consumers open to financial harm and loss of funds from debt settlement companies during their most vulnerable times.
Changes to the Manitoba legislations were made in 2012 and Brian comments on how those changes were instrumental in protecting Manitobans from scams. “The changes around debt settlement here in Manitoba…have worked very, very well. I think the legislative changes have helped protect consumers. I fail to understand why BC has not done the same thing.”
“Before the Manitoba government changed that province’s regulations in February 2012, ‘we were seeing a lot of people get trapped into working with these organizations, where they had turned around and they had sent them a whole bunch of money, only to be sued, only to find out that they’d been scammed,’ Denysuik said.
Denysuik said in recent years, his office has heard from far fewer upset, distressed consumers who claim to have been scammed by shady debt settlement companies.”