Hi LB, from my understanding, the biggest risk was limiting the...

Hi LB, from my understanding, the biggest risk was limiting the time frame to three years. A lot of the debt agreements run for up to five years. Having read the recommendations of the senate committee, it would appear that there will be a way of stretching the period out to five years if the amendments are made.


Doubling the asset eligibility threshold will allow more to qualify.


From what I have seen, FSA is an ethical player, the other restrictions will have no impact. There designed for the rouges in the industry. The type @vestro invests in.


Recommendation
The committee recommends that the government consider amending the
BADAR bill to allow for debt agreements implemented under a three year cap to
be capable of being extended by up to an additional two years by agreement of
the debtor, creditors, and debt agreement administrator.


Recommendation
The committee recommends that the government consider including
provision in the BADAR bill to require the minister to have regard to the cost of
living for low-income households, the average cost of housing, and potential CPR
increases, when setting the payment to income ratio, and whether differential
payment to income ratios based on a debtor's ability to cover costs of living at a
reasonable standard could be appropriate.


Recommendation
Subject to recommendations 3 and 4, the committee recommends that the BADAR bill be passed.