Credit Canada

March 31, 2006, Toronto – John Murray, President & Chair of Credit Counselling Service of Toronto (CCST), began his second term by announcing the launch of CCST’s new Credit Canada Debt Solution initiative in a bid to help individuals and families from coast to coast with serious debt problems.

 “Canadians’ insatiable appetite for cheap credit poses a threat of national proportions” warns Murray, pointing to the perilous rise in Canada’s debt-to-income ratio and collapsing national savings rates, “and young people are most at risk. More than 53,000 Toronto households looked to us for help this past year alone, while thousands more fell to bankruptcy.”

CCST believes education in basic money management is the key, and is offering its online business systems and Call Centre support in a bid to link local and regional not-for-profit Credit Counselling agencies from coast to coast. “In the past two months we’ve opened discussion with dozens of like-minded agencies” notes CCST Executive Director Duke Stregger, “and we’re very close to assembling a working group to help consumers across Canada.”

The new Credit Canada Initiative will share online account handling, 24 hour online services, and extended 8 to 8 business hours in their Call Centre – all focused to help desperate consumers struggling with unsupportable debt. “The situation is bad enough now,” notes Stregger, “but we’re racing to be prepared as families lose ground against rising interest rates. All of us know we have to be ready to provide a wealth of service to those in need.  We have a proven record in Toronto and beyond.”

CCST President, John Murray speaks for all the Counsellors working to make the Credit Canada Initiative a reality, “We just hope they call us first. It’s vital that consumers get the right information – and our over 40 year history speaks for itself. There are many other options, and most people don’t need to blow up their credit ratings or risk losing their assets to bankruptcy!”

CCST is a not-for-profit charitable community service. We help consumers by providing credit education, counselling on budgeting and wise use of credit, and planned debt liquidation programs. Our service reach extends across Canada, and involves the operation of 12 branch offices in the Greater Toronto Area, a new network-enabled administration, and a new in-house Call Centre. Over the past 40 years, we have helped more than 550,000 individuals and families get through difficult financial troubles.