Union des consommateurs
2017
Union des consommateurs (UC) research aimed at identifying the information generally available to those who make a joint commitment – as co-signers, holders or endorsers of personal credit products: loans, credit cards, credit limits and hybrid products. UC tried to determine whether information was provided, or easily accessible, regarding the solidarity of obligations, notices issued or instructions received by financial institutions, and ways to terminate solidary obligations. After a review of the literature, UC conducted a survey of financial institutions – in branches, by telephone and on their websites – and examined a few credit contracts.UC also tried to determine, by examining the websites of various governmental and non-governmental organizations and contacting them directly through questionnaires, the type of information those organizations provide to consumers on this issue, and we asked them what types of complaints or information requests they receive from consumers. UC also held discussion groups to verify directly with consumers who had co-signed credit products whether they knew the scope of the obligations they had committed to and the risks of this type of commitment.
Some of the information on this Web page has been provided by external sources. The Government of Canada is not responsible for the accuracy, reliability or currency of the information supplied by external sources. Users wishing to rely upon this information should consult directly with the source of the information. Content provided by external sources is not subject to official languages, privacy and accessibility requirements.
OCA Funded ResearchThis research received funding support through the Office of Consumer Affairs' Contributions Program.
Union des consommateurs 7000 Parc Ave, Suite 201 Montreal, QC H3N 1X1
Source: Consumer Policy Research Database