Debt Settlement

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Canadian Debt Settlement Bureau Is Not Real | Review

The Canadian Debt Settlement Bureau Doesn’t Really Exist

We recently called a new debt settlement company to find out more about their service. We were surprised when this company’s representative told us that the Better Business Bureau does not know the debt settlement industry like the Canadian Debt Settlement Bureau does. This representative claimed that the Canadian Debt Settlement Bureau are experts on the debt settlement industry and rank all debt settlement companies using this expertise. This commission based salesman really tried to leave us with the impression that the Canadian Debt Settlement Bureau’s rating was much more important than the Better Business Bureau’s rating—even though the Better Business Bureau has fielded thousands of inquires and complaints about the debt settlement industry.

We had never heard about the Canadian Debt Settlement Bureau before. So we looked into it. As it turns out, no one else has heard of it either. The bottom line is that it doesn’t exist. It appears to be the creation of a debt settlement company—a ploy to make themselves look trustworthy. Here is what we discovered about the Canadian Debt Settlement Bureau:

Canadian Debt Settlement Bureau does not exist

 

The website for an associationthat doesn’t appear to exist: the
Canadian Debt Settlement Bureau.

  1. We called all four “accredited members” of the Canadian Debt Settlement Bureau and they had either never heard of this organization before or they had only agreed to allow these guys to link to their website. The one company that acknowledged that they gave the owners of the Canadian Debt Settlement Bureau permission to link to their website, admitted to us that the Canadian Debt Settlement Bureau is not real, they are not a member and they did not go through any accreditation process.
  2. The Canadian Debt Settlement Bureau does not provide any contact inform
    ation on its website, cdsb.ca. There is no phone number, mailing address or email address on the website so that people or businesses can check them out, find out more about them or apply to become an accredited member. No credible organization would withhold this kind of vital information.
    Fake rating from Canadian debt Settlement Bureau.
    The bogus rating that the
    Canadian Debt Settlement
    Bureau awards agencies.
  3. The Canadian Debt Settlement Bureau does not exist anywhere but on its own website. There is no mention of them anywhere on the internet or on any of their “accredited members” websites.
  4. The Canadian Debt Settlement Bureau’s website was registered on June 13, 2011—less than three weeks before the writing of this article (source: http://whois.cira.ca/public). A credible organization doesn’t just pop out of nowhere like that. It requires many years with a solid track record and endorsements by well known, credible people and organizations to build trust.
  5. The Canadian Debt Settlement Bureau’s domain name, cdsb.ca, was registered less than three weeks ago by another American for-profit debt settlement company called Debt Relief Center Inc. This company has many complaints filed against it with the Better Business Bureau.

The bottom line is that the Canadian Debt Settlement Bureau doesn’t exist anywhere but on it’s own website – they don’t have an office or even a phone number. In short, they are not a legitimate ratings agency.

To watch a short video about what to look for in ethical debt settlement organizations, click here.

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Debt settlements are just one of 7 debt relief options available in Canada (5 are available in all provinces). Before deciding to pursue a specific option, it would be wise to speak with a credit counsellor, review your situation, and determine which option is going to help you achieve your financial goals. Speaking with our counsellors is always free and confidential.

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