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A license is required to do debt settlement...

I agree with Richard.

Sorry, but you are wrong MMZ Financial Consulting.

Been there, done that, got the tee shirt. In fact a lot of the legitimate debt settlement companies in Canada have that same tee shirt as well.

I know Monty is calling me a bulldog, and I sometimes come off as terse, but I am calling it like I see it; it’s only to protect the debt settlement industry from people who are only in it for a quick buck on the side and don’t set up and perform debt settlement services properly.

If you can’t be bothered to set up your company properly then on a balance of probabilities, it’s unlikely that you can be bothered to execute the program, disclose all aspects of debt settlement and navigate the channels without making a mess of things at some point for both consumers and creditors.

If you are a registered corporation that settles consumer debt, which you said you are, then you are in fact a debt settlement company. According to the Registrar in Ontario you need to be licensed and bonded to settle debt. You can always call Brian Pitkin and argue that point if you have any question there.

If you plan on making a legitimate full time business of it, I’d suggest taking the time and money to do it right and pay your dues to set up your company correctly.

You will service you clients better and lend more credibility to the debt settlement industry.

MMZ Consulting can certainly try to get by, and fly in under the radar until the Province sends you a letter forcing you to register, or you get a surprise visit from one of their inspector’s. But announcing that you settle debt on a public forum without proper registration, licenses and bonds shows how new you are to offering debt settlement services, and really, is hardly flying in under the radar.

Nothing wrong with being new, everyone is a newbie at one time...

Good afternoon,

Just to respond I am not a debt settlement company so I am not licesnced as one. I am a registered corporation to handle those matters. Also It is purely legal to do such things. I used to be a bill collector for 10 years and started doing it on the side. I am registered as a consulting firm and I am able to conduct the services that I consult about since I have no restrictions on my ar4ticles of incorporation. Everything I do is legal I did seek legal counsel and I am not a fly by night corporation. I can negotiate debt settlements on behalf of collectors and I have not left a trail of destruction I have a proven track record

Bulldog? Moi? ;)

I just want to make sure he is licensed and bonded to do what he is doing. If he is, that’s good. Anyone offering debt settlement in Ontario has to be licensed and bonded by the province.

I’ve found a lot of mortgage agents/bill collectors/financial consultants/insurance brokers/etc all try to offer debt settlement services on the side.

Some of them have left a trail of destruction behind them, and left this business model with a bad reputation so I’m just asking for the sake of protecting my industry.

I actually wrote an article about this here: The 7 Questions You Need to Ask a Debt Settlement Company Before You Sign Up

You know me Monty, it's just due diligence.

RichardC,
You are a bulldog!!

Hi MMZ,

Welcome to CMA.

I have a question, are you licensed and bonded by the Ontario Government to provide debt settlement services?

I couldn't find your website and your hotfrog.ca (pasted below) listing shows that you specialize as a “jack-of-all-trades” offering bill collector work, and as mortgage agent as well:

MMZ Financial Consulting Ltd.
58 Westchester Blvd, Bolton L7E 5V7, ON

p: 416-889-3539

Website - None Supplied

Email MMZ Financial Consulting Ltd.

About MMZ Financial Consulting Ltd.

We specialize in :
Collections, Debt management, Risk & Receivable management, Credit planning, Mortgage 1sts, 2nds & refinances

I have over 10 years collection experience and now I run my own consulting firm that specializes in debt settlement. IF you want to know more call my office at 416-889-3539.