The Better Business Bureau has posted an alert on its website, warning consumers of ongoing complaints about a company that promises to help you get out of debt.
It is called Cambridge Life Solutions, and according to the Better Business Bureau, the company’s solutions might just make things worse.
“Essentially people are entering into contracts that can be 24 months in length, and we are not sure when and how often Cambridge Life Solutions is contacting the creditors, if at all,” says Mark Fernandez with BBB of Lower Mainland.
One client says Cambridge charged her $3000, and after the first few weeks, she couldn’t get her phone calls or emails answered.
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“Cambridge Life Solutions’ rating is an F with the Better Business Bureau. That is our lowest,” says Fernandez. “We heard 23 complaints over the past 36 months.”
Sands & Associates Trustees in Bankruptcy’ Blair Mantin has seen a number of clients who had previously been clients of Cambridge Life Solutions.
“I’ve had people have their homes registered against by their creditors. I’ve had people have their wages sieged by their creditors. Essentially you are without any legal protection at all when you are dealing with a debt settling firm. Anybody can still do whatever they want to you to collect your debts,” says Mantin.
Despite the word bankruptcy in the title, Mantin says the best way to avoid it is to see one of the thousand government certified trustees in Canada.
“A trustee is actually the best person you could see to help you avoid a bankruptcy, because only a trustee can do what is called a consumer proposal, where you freeze the interest, reduce the debt often by half or more and get a number of years to pay it off. You get back on your feet with a repayment plan. The laws in Canada are so reasonable and they are out to protect consumers and help you turn your life around, people just need to know about them.”
Global News reached out to Cambridge Life Solutions media relations for a response, but our calls were left unanswered.
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