Promoting Fairness in Debt Settlement Services Draft Regulation
Bill or Act:
Collection Agencies Act (to be renamed the Collection and Debt Settlement Services Act)
Summary of Proposal:
The Ministry of Government and Consumer Services seeks comments on text of a draft regulation that would implement improved protections for debtors when dealing with debt settlement service providers.
The posting includes revisions to proposals based on the responses to a consultation previously posted on the Regulatory Registry for 54 days, from March 7 - April 30, 2014 (Link: http://www.ontariocanada.com/registry/view.do?postingId=15682&language=en).
Once in force, debt settlement service providers will have six months to prepare for new rules.
Interested parties can respond by email or mail.
The ministry thanks all those who commented on the initial proposals and welcomes feedback and encourages anyone interested to provide comments on the draft regulations and associated documents.
October 10, 2014
Comments Due Date:
October 28, 2014
Ministry of Government and Consumer Services
777 Bay Street, 5th Floor
Toronto, ON M7A 2J3
Attention: Debt Settlement Services