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Today's Money Talk

Consumer Protection Suspends License, Freezes Accounts

Options Credit Services Canada Ltd a BC licensed debt settlement company is in the news again. On Dec 5 2013 the BC Consumer protection Agency suspended the license of the company and seized the bank accounts associated with the company. Options Credit Services,

Stating:

Action to safeguard the public interest as it is alleged that OCSC is non-compliant with the Business Practices and Consumer Protection Act and the Debt Collection Industry Regulation.

The law requires debt poolers operate a trust account and appropriately distribute consumer money to their creditors in accordance with an agreed upon repayment program.

The company, owned by Don Antle and his wife Karen Antle have also been named in several BC lawsuits this past summer alleging “fraudulent and misleading business practices”.

Options Credit Services Canada Ltd. is now Debt Works Financial Ltd.

Debt Works Financial Ltd. has multiple domains www.indebt1.com which operate in a similar manner as Options Credit, even offering their signature “Express” credit feature. The business model promises debt reduction, offering to help people who are struggling with debt by negotiating with creditors and consolidating monthly payments into a single lump sum. Which the company takes into trust and disburses to the various creditors. Clients are charged a fee for the service, which is kept by the company. The fee is often large and there is no guarantee that the creditor will accept or reduce the consumers debt.

Disclaimer posted by Debt Works Financial Ltd: InDebt1.com is a web property of Debt Works Financial Ltd., located at 7565 132nd Street, # 220 | Surrey, BC Canada V3W 1K5 and is a consumer advocate site that provides information regarding different types of debt relief programs available. When a request is made via the online form on this site, the information is securely passed to a company that is licensed to conduct debt relief services. Any questions regarding this website can be directed to 877 823-1133.

As of Dec. 6 2013 The company Debt Works Financial Ltd. is not registered with the Province of BC as a Debt Collector and the 877 823-1133 is functional and operated by Options Credit Services.