Credit Canada

The Number Of Clients Served Jumped By Over 40% In The Past Year. 
 
TORONTO - The Credit Counselling Service of Metropolitan Toronto has helped over 100,000 persons pay off more than $80 million in debts since 1966, it was announced at the organization's annual general meeting on March 24/98.

The not-for-profit agency is continuing to see astonishing growth as it reaches out to more financially troubled consumers. The number of clients served by the Credit Counselling Service of Metropolitan Toronto jumped by over 40% in the past year.

Toronto's best kept secret appears to be "out of the bag" and growing in popularity, Mr. Duke Stregger, Executive Director told the meeting. In addition to the 15,765 interviews conducted and over 12,000 people who participated in Credit Education Seminars, the agency handled over 150,000 telephone inquiries in 1997.

CCSMT is a non-profit charity set up over 30 years ago to help individuals and families in serious credit difficulties sort out and solve their problems. Staff members at our eight locations across the city assist clients in analyzing their financial situation, then, if necessary, make arrangements with creditors for extended payment programs.

The payments are funneled through the agency on a pro-rata basis to creditors.

No fee is charged for the initial counselling session and a sliding fee scale based on individual income is assessed for additional programs. No client is turned away regardless of age, race, marital status or ability to pay. The agency also conducts an active educational program reaching a variety of audiences throughout the community.

CCSMT is supported by banks, retailers, collection agencies, credit unions, trust companies, labour unions, service agencies and others.

The agency announced that it will expand its head office and Credit Education facility in 1998 moving to 45 Sheppard Avenue East in August. The counselling services at 27 Carlton Street will remain.

Ms Terri Williams, Manager, Communications, The Investment Funds Institute of Canada was elected President and Chairperson of the Board. Mr. Pran Bahl, Management Consultant retired from the voluntary President's role but will remain on the Board of Directors as Past President and Chairman of the Nominating Committee.

Mr. Stregger reported that traditional face to face counselling is being challenged by more convenient telephone service with many cities in the United States already offering this service. He said that Credit Counselling Service of Metropolitan Toronto is meeting this challenge head on and that telephone credit counselling is being offered to clients calling for assistance. He also reported that with the huge popularity of World Wide Web the agency is also positioned to serve on www.creditcanada.com. A national toll-free telephone number 1-800-267-2272 was also announced.