Debt pooling is often used as an aid to assist someone in financial difficulty. Often credit counseling of the debtor and negotiation with creditors is also included as part of a debt poolers service.
In order to be a debt pooler, the person must be taking possession of a debtor’s money for redistribution to three or more of the debtor’s creditors. Under the legislation a debt pooler must not act for the creditor and a contract between a debt pooler and debtor must be in writing. For more information on debt pooling visit our legislation here. To find out if a business is licensed as a debt pooler in British Columbia click here.
Please submit you completed claim form to our licensing department.