Vaughan debt counselling Archives - Ira SmithTrustee & Receiver Inc.

Haven’t you already written on the loan scams Canada topic?

Yes, we have previously advised you of various loan scams Canada in our previous blogs and vlogs:

“Will these loan scams Canada continue?

For sure loan scams will continue. One main reason is that Canadians on a per capita basis are in debt at the highest level in all of Canadian history, and one of the highest in the entire world! This is a very lucrative and enticing market for the scammers to perpetrate loan scams Canada!

How can I protect myself against loan scams Canada?

There are three general themes in common with all of the loan scams. If you don’t fall for them, that is the best protection. Here is our list of the three common loan scam Canada themes and how to protect yourself:

Never give money or your credit card information over the telephone or in person to someone you don’t know – even if they sound like they’re from an established organization. Request additional information to be sent to you, review it with friends or family, or simply hang up if the whole thing sounds fishy!

It’s important to know that no bank, store or Canada Revenue Agency will ever ask you for your password via email or telephone, so never respond to these requests. If you receive an email that has a sense of urgency requesting personal information, first contact the purported sender to see if the email is legitimate.

Reputable lenders for personal loans will never ask you to pay an up-front insurance or application fee. Also, reputable lenders will never give you a guarantee that you will receive the loan approval before you provide your information. If the person you are dealing with asks for the up-front fee, or guarantees that no one is ever declined, stop dealing with them.

What to do if you have too much debt and not enough cash

Rather than resorting to high interest rate payday loans or to lenders who charge up-front fees in return for all sorts of promises, talk to a licensed insolvency trustee. Contact us now to obtain a solution, before bankruptcy is your only alternative.

We help individuals and companies throughout the Greater Toronto Area (GTA) facing financial crisis to avoid bankruptcy or bankruptcy, if the problems have been left too long without any corrections that need a plan for Starting Over, Starting Now. The Ira Smith Team brings a cumulative 50+ years of experience dealing with diverse issues and complex files, and we deliver the highest quality of professional service. Don’t worry about debt; instead take immediate action.

When we perform Vaughan debt counselling, we always advise that there is no miracle cure or quick fix when you owe money to the Canada Revenue Agency (CRA). For a real life example, see our discussion in an earlier blog The Tax Lawyer; Even A High Profile Tax Fighting Lawyer Has To Pay His Income Tax. Unfortunately there is more to worry about than the CRA during tax season. There are scam artists out there just waiting to take your money. Through our Vaughan debt counselling, Ira Smith Trustee & Receiver Inc., we are able to provide some valuable information and advice to help protect you from the villainous forces lurking at the other end of a phone call or email transmission.

In fact, it was through our Vaughan debt counselling that we learned of these scams. Scammers are sending emails and making phone calls, claiming to be the CRA. These communications, asking for information including credit card data, bank account numbers and passwords and passport numbers are designed to steal your identity and/or your money. Email scams frequently contain embedded malicious software that can harm your computer and put your personal information at risk. DO NOT click on any of the links in the emails. Typically an email or telephone scam involves one of these two scenarios.

You have a refund pending from CRA and the communications will go on to instruct the receiver to provide personal information in order to receive the benefit.
You or your company, as a result of an audit, owe “back taxes”. You are advised you have to “pay up” ASAP to avoid a fine or the person is told there is an outstanding arrest warrant which can be avoided if the tax payment is made promptly. In many cases individuals are being told they will be deported if the taxes are not paid right away.

These types of communication are not from the CRA, should be ignored and reported to the RCMP or Canadian Anti-Fraud Centre at 1-888-495-8501 or http://www.antifraudcentre.ca.

The CRA:

NEVER requests information from a taxpayer about a passport, health card or driver’s license.
NEVER divulges taxpayer information to another person unless formal authorization is provided by the taxpayer.
NEVER leaves any personal information on an answering machine or asks taxpayers to leave a message with their personal information on an answering machine.

If you find yourself in financial difficulties as a result of a scam or for any other reason contact Ira Smith Trustee & Receiver Inc. We serve the GTA through our Vaughan debt counselling and our other services that are bankruptcy alternatives. We can help get you back on the road to solid financial footing Starting Over, Starting Now. Watch for our next blog when we’ll be discussing the dangers of taking free tax advice.