February 1, 2013 -- Canada Credit Fix, Canada’s leading credit restoration and debt settlement specialists, has recently offered its services to the Canadian government in response to a recent loss of student loans data.
The loss of this student loan data has made waves in the media the past couple of months, bringing to light the vulnerability of the average Canadian consumer’s personal and financial information, and have created a huge controversy. The disappearance of an external hard drive that contained the SIN numbers and student loan information from 583,000 borrowers. This devastating breach of security could result in over two million Canadians being vulnerable to identity theft and credit fraud. This has already resulted in multiple class action lawsuits towards the Harper Government by outraged victims of the information breach. Human Resources Minister Diane Finley may even be called up before a parliamentary committee to explain this grievous breach of security in her department. Notwithstanding the serious nature of the breach the HRSDC has virtually ignored the proposal from one of Canada’s few credit repair agencies.
The government’s response was to offer credit report monitoring service through Equifax. Equifax in turn would flag accounts affected by the data breach and monitor the accounts for six years for any fraudulent activity. Diane Findlay’s quote is, “I want to reassure Canadians that we are serious about protecting their personal information," and "That is why we will provide potentially affected individuals with credit protection at no cost, which will flag their credit files and help detect any potential compromise of their personal information."
It did not take long for Canada Credit Fix President Sheldon Wolf to find flaws in the Canadian Government’s plan to help the victims of their own security breach. Not only was it not made clear what Equifax intends to do in case one of the data breach victims has their identity stolen, but also that Equifax may flag all data breach victim’s accounts in an attempt to protect their credit reports, resulting in confusion and hesitation by lenders, sellers and financial institutions. Flagged credit reports garner risk and fears for credit granters, while also being put under increased scrutiny when the consumer requests a loan, a mortgage, the purchase of a home or vehicle, or any financial transaction in which the lender or seller has to pull a credit report. This could result in rejected applications for credit and major purchases. Then there is the fact that Equifax credit monitoring is done electronically, not under the watchful eye of a human credit expert or a fraud specialist who can better differentiate between a legitimate financial transaction and a fraudulent one. Sheldon Wolf states, “These people need a real voice with credit experience, whom can clearly explain and discuss matters and risks with the consumer.”
And if it wasn’t enough, the Canadian Government has yet to address the issue of what to do about TransUnion, the other major Credit Reporting Agency in Canada. Without dealing with TransUnion, the Government leaves the job of securing their victim’s personal data only half done. It is a known fact that often credit reports from these rival firms may contain different data.
Wolf admits that obtaining a monthly subscription to Equifax is a good first step; the real solution begins with live consultations, protection and credit restoration. Many if not most of these people would ever be able to afford the cost of forensic credit restoration and very few companies in Canada offer this service.
With these points in mind, Sheldon Wolf offered a solution to Diane Finley that would give the data breach victims a complete solution that would bring them peace of mind. He has offered a bulk deal on Canada Credit Fix’s $708 per year, live credit monitoring for only $3.65 for a year of protection; a virtual 99.49% discount. Not only was credit monitoring offered at a grossly discounted rate but also credit restoration on credit reports damaged by identity theft resulting from the data breach was also included 100% free of charge. Canada Credit Fix offered its live monitor for both Equifax and TransUnion credit reports, giving better protection and coverage to victims of the student loan data breach. This proposal worked out to only a cent a day, practically given away as a volunteer effort from Canada Credit Fix who feels that it is their position to provide immediate protection and assurance to people whose personal data has been violated.
Sheldon Wolf a long time member of the Credit Institute of Canada as well as provider of credit restoration for major Canadian corporations, stated, “We highly doubt any of these breached consumers will be able to obtain any identity theft insurance now that their information has been compromised. Our protection guarantee will insure that they are not on their own in the event that we need to do credit restoration. It also means the consumer will not get stuck with a major credit restoration bill which can sometimes be six to ten dollars in the event of a malicious attack on their credit.”. Canada Credit Fix essentially is offering to handle the unlimited credit restoration free of charge in the event that there is a further breach or malicious attack which would relieve the Government from additional liability.
Canada Credit Fix has had extensive experience on credit restoration and identity theft and hires ex-employees of Equifax, underwriters, paralegals and is frequently partnered with litigation specialists. They are one of the few companies in Canada that specializes in forensics credit restoration and has almost 2 decades of credit experience. Virtually every major financial institute in Canada, as well as local and national law enforcement agencies, have come to Canada Credit Fix for their credit investigation expertise and their real time credit monitoring solutions. Wolf said in an interview that he was somewhat frustrated and confused with there being any red tape considering it was the government that caused this blunder in the first place. He explained that the government cause what could be a horrific accident and is offering to throw in a free carwash, they need to take complete responsibility. These people need protection and support and the solution is being served up for virtual pennies per person.
Canada Credit Fix’s plan to help victims of the student loan data breach has been sent to Diane Finley’s office, and though this all inclusive solution has been sent up their chain of command the Ministry of Human Resources has yet to respond in a timely manner. Canada Credit Fix has prepared for any rejection of their proposal to the Government by volunteering its credit monitoring service to any victims of the student loan data breach free of charge directly to the students. Wolf has also stated that any rejection or reluctance on the part of the Government to hold up matters with the solution brought forth will be share with the lawyers and victims waging war in the ongoing class action lawsuits. It is apparent that the victims as well as the lawyers would like to see the government take responsibility for their actions by offering a real solution.
CEO Sheldon Wolf had this to say about any rejection to his proposal. “Should you feel that our fee of one cent a day, for these protective services is unreasonable, then perhaps you can offer that explanation to the media, the past students and their lawyers. If you are genuinely serious about protecting Canadian’s credit, as described in your quote then I am hoping to hear from you forthwith and encourage your complete cooperation for a quick resolution to this crisis. Your participation in this solution will speed up the process, create efficiency, and lend to the actual credit protection. As you can also imagine, it will be much easier than gaining your participation in this solution than my organizing and canvassing contact with these individual consumers directly. I look forward to your prompt acceptance and I would imagine that these past student feel much the same.”
