5 Tips To Help You Avoid Shady Debt Settlement Companies

Avoiding Shady Debt Settlement Companies

If you want to put an end to your debt once and for all, then you need to make sure that you go with a good company who can give you the support you need throughout the entire process.

The last thing you need when you are facing a mountain of debt is to go through a company who is charging you hidden fees, as this will make your entire situation much more difficult to deal with.

That’s why we’ve created this guide so you can find out everything you need to know about debt settlement and how to choose a reputable company that will show you the light at the end of the tunnel.

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Fees and Hidden Charges

The first thing that you need to do is understand the fees that the debt settlement company are proposing.

It’s vitally important that you go over the fine print, as a lot of the tricks can be found detailed there.

A lot of people who seek debt settlement support tend to glance over the main terms of the contract, and usually come to the conclusion that everything is fine.

The fine print is just as much part of the contract as the main terms, so make sure that you go over this properly, regardless of how small the font size is.

Some shady debt settlement companies choose to add confusing terminology to try and trick you into thinking that there aren’t any hidden fees, so you need to make sure that you watch out for this if you want to get through your debt as quickly as possible.

Never Feel Pressured

Debt settlement will give you advice and they will make you feel as though you have to go through their company now you’ve utilised some of their services.

This should never be the case.

Your debt settlement company should explain the services to you and then they should leave you to make your own decision.

If you feel as though your debt management company is pushing you, offering you a sales pitch or if they are pressuring you overall then this is because they want to get your business today.

You are under no obligation to go with a debt settlement company if you don’t want to, and if you feel as though you are being forced into something that you don’t feel comfortable with, then you have every right to say no.

The one thing that you should take away from this point is to always follow your instincts.

You have to make sure that you are happy with the company, and that you feel secure with the entire process.

Is the Company Canadian?

Find out if the settlement company you are going through is actually Canadian.

You need to verify the phone number and you need to give it a call so you can make sure that it is not a fake number.

When you do call them, you need to find out where their main offices are.

This will help you to find out where they operate from.

This, in combination with the methods mentioned above, will help you to ensure that you are not going to be scammed or treat badly by a company who aren’t who they say they are.

Look up Reviews

Any good debt settlement company should be a member of the relevant professional association.

If they are then this will show that they are credible.

If you don’t know if the company is registered, then you can either contact the relevant government body or you can contact the company to ask them to state that they are registered in writing.

If you want to make sure that they are a good company to be going with, then it is also wise for you to look into the company reviews so you can make sure that they have a good reputation and that they are treating their clients with honesty and respect.

At the end of the day, even if a company is registered, that doesn’t mean they are going to provide you with a good service.

They may be allowed to operate and settle debt, but they might not keep you in the loop in regards to your debt, and they may delay in contacting your creditors.

It’s also possible that they might not get you the best deal for your debt settlement as well, so keep that in mind.

Don’t Go off the Name Alone

Just because a debt settlement company has a big name, doesn’t mean that they are a good company.

You should never get carried away and choose a company purely because they are well-known.

In fact, some of the smaller debt settlement companies in the country may be able to provide you with a more personalised service and they may be able to chase up phone calls faster because they have a smaller client base to be working with.

You also need to remember that smaller businesses will usually work twice as hard to earn your loyalty and satisfaction.


If you want to make sure that you are making the best decision with your debt settlement company then Bankruptcy Canada are certainly the way to go.

We have specialised teams who are able to help you get the best result out of your proposal or settlement, not to mention that we will also do everything we can to make sure that you understand the process from start to finish.

It is this standard of service that helps us to stand out as being one of the best, not to mention that we have helped thousands of Canadians to get the support they need over the years.

If you want to find out more then please do contact us today to find out more.

You can contact us either by phone or by email and when you do, our team will try and get back to you as soon as we can.

Information on Consumer Proposals

Consumer Proposals in Canada – An Alternative to Bankruptcy
What is a Consumer Proposal?
How to Amend a Consumer Proposal
What are the Benefits of a Consumer Proposal?
What are the Steps in a Proposal?
Consumer Proposal Eligibility
What Debts Are Erased in a Consumer Proposal?
Is There Life After a Proposal?

Canadian Bankruptcies

How to File for Bankruptcy
What is Bankruptcy?
Bankruptcy FAQs
How Does Bankruptcy Work?
What is the Cost of Bankruptcy in Canada?
How to Rebuild Credit Following Bankruptcy
Personal Bankruptcy in Canada
What Debts are Erased in Bankruptcy?

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