Working with consumers and businesses to ensure a fair marketplace for all Manitobans.

Money matters
Debt management

Have a debt problem?

If you're using a debt settlement service, make sure you understand what you're getting into

Over the past decade, new players have entered the field of debt management. They're called debt-settlement companies, and in return for a very substantial fee, they promise to negotiate your debts and significantly reduce your credit card or other payments.

Money Matters | Debt Management - Consumer Protection Office

Though some of these companies offer valuable services, many are known for their high pressure sales tactics, excessive fees and dubious methods for reducing your debt. Both the Manitoba Consumer Protection Office and the Financial Consumer Agency of Canada have issued warnings, cautioning consumers to think carefully before signing a contract with one of these services.

If you're thinking of using a debt settlement company, get informed and learn about the protection offered under the The Consumer Protection Act. Here are just a few of the regulations that can help protect you from unscrupulous companies:

  • debt settlement agencies must be licensed
  • no up-front charges are allowed
  • maximum fees are set in regulations
  • you can only be charged a fee if an agreement on reduced repayment is reached
  • the maximum amount you can be charged for the service is 10 per cent of debt you owe

The Manitoba Consumer Protection Office can help you find financial counselling and support to manage your debt.

For more information or if you have questions you can visit the Manitoba Consumer Protection Office website at or see the contact us page for additional contact information.