CDPC to represent consumers with as little debt as $6,000
Consumer Debtor Protection of Canada Ltd. (CDPC) is pleased to announce that, effective immediately, it will be representing Canadians struggling with debt who have as little as $6,000 in debt. Prior to November 1, 2016 CDPC would not represent a Canadian doing a consumer proposal unless the consumer’s debts totaled a minimum of $10,000.
Few, if any, firms offering services to Canadians struggling with debt, will accept clients owing less than $10,000. The reason is financial. Most firms offering services to debt-challenged consumers simply cannot generate adequate revenues from consumers owing less than $10,000 to their creditors. As a general rule, the greater a consumer’s debt load, the greater the potential revenues for a firm providing services to a consumer struggling with debt.
There are a number of reasons why CDPC has made the decision to be an industry leader and reduce its minimum debt load from $10,000 to $6,000. Firstly, CDPC has made some major investments in technology which has enabled it to dramatically reduce its administration costs. Secondly, CDPC has enjoyed a good year in 2016 and is well placed to provide consumer proposal representation services to Canadians with a minimum debt load of $6,000.
Woodbridge, Ontario-based CDPC employs more than 40 staff and its Customer Service Department is staffed 78 hours per week, Monday through Saturday.