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Faq’s

Here at our CDPC Company we are here to assist you in any way that we can with your debt issues and we will offer you the debt solutions that you need. When it comes to finances, money management and debt many people have questions about what they should do. We have the answers for you.

Q .What should you do if you have debt collectors calling you?

A. If you are receiving collection calls then we invite you to contact our firm. If you do speak to a collector then you might end up saying something or doing something which is not in your financial best interests.

Q. Do you stop collection calls?

A. Once you become a client of CDPC we immediately inform your creditors that we are representing you and that all future communications are not to be made to you.

Q. How should you handle your student loans if they are too expensive for you at this time?

A. If you are having difficulties paying your student loans then you have a number of options. We would invite you to contact us to learn more about your options for dealing with student loans.

Q. How should you handle the mortgage on your home?

A. If you have debt-related questions that might involve your mortgage then we would invite you to call a counselor at CDPC. Our staff might refer you to a mortgage broker or explain to you the services that we offer.

Q. What are the best ways to manage money on a regular basis?

A. Ideally, a person will have a realistic budget and maintain a positive cash flow (revenues exceed expenses) each month on a regular basis. You are welcome to call Consumer Debtor Protection of Canada Ltd and speak with a counselor for more information about your finances.

Q. What is Consumer Debtor Protection of Canada Ltd?

A.Consumer Debtor Protection of Canada Ltd is a firm which offers consumer proposal representation services. It also offers debt settlement services to Ontario residents.

Q. Are you a Canadian firm?

A.Consumer Debtor Protection of Canada Ltd is 100 percent Canadian-owned and operated company.

Q.Do you lend money?

A.No. CDPC represents consumers who wish to eliminate their debt. The firm does not provide loans.

Q.Are you a member of the Better Business Bureau?

A.CDPC has been an accredited member of BBB since 2006. You can visit our BBB report page by clicking here.

Q.Are you licensed?

A.CDPC is licensed by the Ontario Government’s Ontario Ministry of Government and Consumer Services. Our registration number is 4707240.

Q.Will this affect my credit rating?

A. Yes. Anytime a person does not make payments to a creditor in accordance with their contractual obligations they should anticipate a negative impact on their credit score.

Q.Are you a non-profit?

A.No. Unlike a non-profit credit counseling agency, CDPC does not receive any financial compensation from your creditors which should raise concerns about conflicts of interest. CDPC acts as your representative at all times.

When comparing the services of CDPC to a non-profit credit counseling agency you should ask yourself how much will it cost me to eliminate $1.00 of my current debt?

Q.Are you a debt pooler?

A.No. CDPC does not accept trust monies from consumers which accumulate and then are used to fund settlements.

Q.If I get sued by a creditor will your firm help defend me?

A.After you become a client if you are sued in connection with a debt owing to an included creditor then CDPC will assist you with your defence.

Q.What kind of debt are you able to assist me with?

A.As a general rule, CDPC will represent consumers seeking to do a consumer proposal in connection with unsecured debt. CDPC will not represent consumers concerning current utility bills, and criminal fines or restitution orders. Contact our office for more information about the type of debt CDPC will represent consumers.

Q.Can I keep a credit card?

A. If you are going to do a consumer proposal then you are not permitted to keep a credit card. You are, however, permitted to have a secured credit card during your proposal.

Q.Am I still going to be charged interest?

A.No. During the life of your consumer proposal no interest accrues.

Q.Is this a bankruptcy?

A.A consumer proposal is not a bankruptcy.

Q.I was already with one firm and was extremely disappointed.

A.In any industry there are bad apples. It is important for you to check the BBB rating for a firm offering debt relief services and determine whether it satisfies any necessary licensing requirements.

Q. How long does the proposal take?

A.The maximum length of a consumer proposal is 60 months or 5 years. The longer the consumer proposal the smaller the monthly payments. A consumer has the option of paying out a consumer proposal more quickly than that originally arranged.”

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