Cambridge Life Solutions Strikes Again! Twice in the Same Day!

by Ted Michalos, CA trustee on November 15, 2011

I’d heard of this company before, in fact I recall seeing ads for their services on US television stations for years, but until today, I had not met with anyone who had dealt with them. Now within 2 hours I’ve seen 2 different people and both were dissatisfied with what had been done by Cambridge Life Solutions.

I wrote about the first gentleman’s experience with Cambridge Life Solutions as soon as we finished our consultation, not realizing that three clients later I’d be listening to the same story again.

The second client, a woman, met with Cambridge Life Solutions in July and had been paying them $600 per month since ($3,000 to date) and was having the same experience as the gentleman I met with earlier. Creditors started calling in September and now they were threatening legal action.

She owes $28,000 and so she is also looking at filing a consumer proposal. Based on her situation she will offer $9,600 ($200 x 48 months) to settle the debt.

Unlike the first fellow I saw that is now “mad as hell”, this woman is embarrassed and feels like someone took advantage of her. She was trying to do the “right thing”, but instead she has probably lost $3,000 that she can’t afford to lose on a solution that was never going to work.

On the bottom of each page of her agreement with Cambridge Life Solutions they list a Customer Excellence Team to deal with concerns complaints. I suggested she give them a call and ask for her money back too… If enough people ask, maybe they’ll figure out that whatever model they were suing in the US may not work in Canada. Based on these two people, it looks like using Cambridge Life Solutions only made matters worse – and cost these poor people an awful lot of money!

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

{ 1 comment }

Consumer Proposals are on the Rise for 2010 and Beyond for Guelph Residents

March 22, 2011

The Office of the Superintendent of Bankruptcy (OSB) has published its statics on Personal Bankruptcies and Consumer Proposals for 2010. 2009 was the big boom for personal insolvencies (bankruptcies and consumer proposal filings). The noticeable increase however is the number of people filing a Consumer Proposals increased further in 2010.  In the Guelph regions region 689 Consumer Proposals were filed [...]

Read the full article →

Guelph Resident’s Ask: How Much Does it Cost to go Bankrupt?

January 18, 2011

My name is Adam Rauf and I’m the associate who manages the Guelph office for Hoyes, Michalos and Associates Inc. and I’m currently in the process of becoming a licensed Trustee In Bankruptcy. The most common question I’m asked is: How much does it cost to go bankrupt? Unfortunately, this is not a straightforward answer. There are 4 [...]

Read the full article →

Bankruptcy vs. Consumer Proposals – What’s the Best Solution as we Approach the End of 2010?

December 10, 2010

My name is Adam Rauf and I’m the associate who manages the Guelph office for Hoyes, Michalos and Associates Inc. and I’m currently in the process of becoming a licensed Trustee In Bankruptcy. Without a doubt, a Consumer Proposal is always the most favoured alternative to filing a bankruptcy. Unfortunately, it may not always be financially possible depending [...]

Read the full article →

The Credit Culture is Spreading Globally

December 2, 2010

My name is Adam Rauf and I’m the associate who works in the Guelph office for Hoyes, Michalos and Associates Inc. and I’m currently in the process of becoming a licensed Trustee In Bankruptcy. I just spent 3 weeks in India visiting family and friends. India is a beautiful place that will you speechless, frustrated, inspired and above [...]

Read the full article →