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  • In Debt? Our Credit Counsellors Can Help

    Struggling with debt? Does the problem seem too big to handle on your own? Credit counselling will give you someone to turn to for expert advice and personalized options.

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    Get Debt Help Now!

    What Is Credit Counselling? Just a 3-Step Process

    Credit counsellors are experts at finding solutions to even the most difficult financial situations. How do they do it? Let’s take a look.

    1

    Financial Assessment

    A Credit Counsellor will take a look at your current financial situation and determine the full scope of the problem.

    2

    Debt Solutions

    Every debt solution is different. Your Credit Counsellor can help you map the best route forward.

    3

    Money Management

    Get help creating a household budget that works for you, your family, and your income.

    Step One: Financial Assessment

    Your Credit Counsellor will first take a look at your current financial situation to determine the full scope of the problem. This assessment includes looking at your current income, expenses, debts, and assets.

    What this Assessment Includes:

    • Income: Your take-home (or net) pay, even if you currently have no income.
    • Assets: The value of your home, car, RRSP/RESP, or any other investments and properties.
    • Expenses: Your monthly costs for necessities like housing, utilities, groceries, and transportation.
    • Debts: Your current credit card and debt balances, interest rates, and minimum payments.

    Understanding Life Expenses

    Since no two sets of expenses are exactly alike, it’s important for your counsellor to know how your life currently operates and what you really need to keep going.

    Your counsellor asks these questions to understand what you value most in your life and what you feel are essential expenses, so that you get the best possible guidance on how to move forward.

    A financial assessment can seem overwhelming, but our counsellors can cut through the drama and get the information you need, quick and painless.

    Credit Counselling to Control Your Debt

    Getting in Control of Your Debt

    Your Credit Counsellor can walk you through the process of gathering your financial information and adding it up, so you’re looking at the reality of your financial situation – and rest assured, your Credit Counsellor won’t let you panic at the size of the problem. Instead, they will immediately help you start forming a plan that begins to address the problem right away.

    You’ll walk away from the financial assessment feeling a sense of control. You’ll know what the problem is, and you’ll know how to fix it. You’ll even know when you’ll be debt-free – and you’ll finally be able to believe it’s possible, because it is.

    Step Two: Debt Solutions

    Every debt solution is different. That's one reason why we don’t recommend tackling debt on your own. Without experience, it’s very difficult to know where to start and who to turn to.

    Get a Fair Evaluation of Your Debt Management Options

    Our counsellors will help determine whether your best first step is enrolling into a Debt Consolidation Program, paying off a few of your smaller debts, negotiating with your creditors, or something else entirely, such as:

    • Applying for a debt consolidation loan at your bank so you pay your bank one monthly payment with a fixed interest rate for all your existing debts.
    • Creating a budget that actually accommodates your monthly bills, instead of letting them pile up.
    • Filing a consumer proposal to pay off your debts through a Licensed Insolvency Trustee (LIT) with affordable monthly payments over a maximum of 5 years.
    • Borrowing from home equity (such as a mortgage or secured line of credit) to pay off your debts.
    • Filing for bankruptcy, which is a last resort, but might be the best solution for you depending on your current financial situation.

    Learn the Basics of Money Management

    Your Credit Counsellor will explain their best recommendations for you, given your financial situation, and you’ll know all the reasons why each solution could work. Your Counsellor will also answer any questions regarding any of your options, so you can make an informed decision about what you’d like to do next.

    Once you feel you’ve regained control over your most immediate and pressing financial problems, your Credit Counsellor will help you learn the basics of sound money management, which helps you continue on the path towards financial freedom – and gives you a solid foundation to avoid debt in the future. 

    Check out our free Debt Calculator in the meantime…

    Calculate Your Debt

    Step Three: Money Management

    Our Credit Counsellors are here to help make sure that whatever led you into debt problems never becomes an issue again. They’re here to teach you money management skills that will help you for a lifetime.

    Get Back on Track to a Better Life

    Some people get into debt problems for reasons that are utterly beyond their control. For the most part, the cause of serious debt issues is simply that people aren't given the right tools for smart money management.

    Most people have never been taught how to create and stick to a budget. Very few have been taught why and how to build savings or create a safety net. And almost no one has actually calculated the true cost of owning and using a credit card when you intend to carry a balance.

    Credit Counselling helps you get back on track
    Enjoy the Debt-Free Life with Credit Counselling

    Start Enjoying the Debt-Free Life

    Your Credit Counsellor will assist you in creating a household budget that works for you, your family, and your income, including setting aside money for your debts and for your future. We’ll talk about your goals in life, as well as your priorities for the future, and we’ll show you how your current income can support those goals with a little planning and strategizing.

    You’ll also learn how to encourage yourself to keep moving forward, even when it’s difficult. There's immense reward for doing so, and our job is to help you keep your eye on the prize so you can enjoy a debt-free, fulfilling life.

    Signs That You Might Need Credit Counselling

    Here are a few telltale signs that you may be mishandling your money and would benefit from credit counselling.

    Out of Cash?

    Using credit because you don’t have cash on hand and paying only the monthly minimum payment.

    Using Cash Advances

    Using a cash advance from one creditor to pay another creditor.

    Increasing Credit Limits

    Requesting an increase on spending limits on credit cards, overdrafts, etc.

    Taking Out Multiple Loans

    Taking add-on loans or consolidation loans while continuing to use your credit cards.

    Borrowing Money

    Borrowing from a friend or family member just to make ends meet each month.

    Too Many Credit Cards?

    Applying for a second Visa or Mastercard at another branch.

    How To Choose an Honest, Reputable Credit Counselling Agency

    This has never been easier! Canadian debt counselling agencies are easy to find, but it is key to look closely at any agency before choosing one to work with. Use the following as a guideline to helping you choose a financial debt counselling partner wisely:

    • Check with the Better Business Bureau to find out if consumers have filed complaints about the credit debt counselling provider you're considering. Most importantly, find out if the issues have been resolved.
    • Make sure the organization offers fair fees and educational material, which is a good indication of a reliable organization.
    • Remember that consumer credit counselling agencies cannot erase your credit history. If an agency claims to be able to do so, do not work with them. Under the Consumer Reporting Act, accurate information about your accounts can stay on your credit report for up to seven years.
    • Know whether there's a monthly administrative fee, how much it is, if it's affordable, and if it's worth the service you'd be receiving.

     

    • Know your rights under the Financial Consumer Agency of Canada.
    • Ask if you will continue to receive statements from your creditors showing what interest rates you're paying, and the reduction of your debt each month.
    • Avoid the infamous "quick fix.” Be careful that you don’t confuse credit debt counselling services with people offering something called “debt settlement programs” – often seen in TV commercials. They claim you can pay a lot less to settle your debts, but debt settlement programs don't always work as promised, and you may be left in a worse financial situation than when you started.
    • Find out what other sources of funding they receive, who regulates and audits their operations, whether their counsellors are trained and by which association, and if there's a formal written agreement.

    Why Our Credit Counsellors Are Different

    Our not-for-profit credit counselling agency, Credit Canada Debt Solutions, is a well-known financial leader. In fact, we've spent more than 50 years helping thousands of people with debt problems by using financial debt counselling to teach them how to manage difficult financial situations and move past them.

    What You'll Get From a Counsellor

    All of our counsellors are highly trained and certified. We are a trusted member of Credit Counselling Canada, and we're proud to have won the Consumer Choice Award for Credit and Debt Counselling Services 10 years in a row.

    • You’ll speak to an expert in debt solutions – a real, qualified Credit Counsellor who knows all the ins and outs of the debt and credit world.
    • You’ll get debt relief options that can work for your financial situation, support managing your personal finances, and a customized spending plan for your day-to-day expenses.
    • You’ll get a sympathetic ear and a judgment-free assessment of your current financial situation.
    • You’ll learn the smartest way to tackle your debt, and you’ll have a knowledgeable guide to walk you through every step of the process.
    • You’ll have someone who will stand between you and your creditors while working through a solution.
    • You'll be on the right path towards financial freedom with a clear understanding of the problem.

    Meet Our Counsellors

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    Get the Help You Need

    Credit counselling helps in any situation involving out-of-control debt problems. The general rule is if your monthly debt payments – not counting mortgage or rent – exceed 20% of your income, you're headed into trouble and you should speak to an expert. Debt help is available to anyone stressed about credit card bills, personal loans, payday loans, or any other kind of debt that isn’t backed by collateral (like a house or car).

    At Credit Canada Debt Solutions, we welcome anyone who needs advice on how to handle money and reduce or eliminate debt. You're eligible for help regardless of your income level or employment status. There’s no pressure or judgment. And everything we do for you is confidential.

    If You Need Help, Give Us a Call

    Most importantly, you’ll have a bright future. You’ll know how to avoid financial troubles moving forward. You’ll know how to manage your money successfully and wisely. You’ll be able to create a safety net that protects you from future unexpected problems.

    And all along your path to financial freedom, you’ll have someone who will encourage you, support you, provide you with the information and tools you need, and be your biggest cheerleader whenever you achieve even the smallest milestone.

    Get Started Today

     

    Get a Free Debt Assessment

    It's easy! Just fill out the form below and one of our credit counselling experts will contact you and begin discussing your personalized debt management options.

    Free Debt Assessment

    Helping Others Just Like You

    See how we have helped so many others become debt free.

    I worked with Marjorie/Credit Canada for 4 yrs to pay off my debt. Not only was she very professional but she is also very kind. She always responded to all of my questions (and I had a ton ) through email,phone call and in person. They took a look at my financial situation and came up w/a manageable monthly payment program.I completed the Debt Management Program successfully on October 2014. My program was setup to be paid out in 55 months but I paid the balance of $55,000 in 48 months with the help of Credit Canada's tips on how to save money & budget reviews.Thank you Marjorie for all your help.

    - Nerissa M.

    I am exceedingly impressed with the excellent service I have received from my credit counsellor. Not only is she wonderful at her job, and has helped me plan for my debt-free future, but she is also extremely personable, kind and understanding. Helpful?

    - Natalie Hughes

    Making bad decisions in life is inevitable. However, there is always a way to resolve. I was in college when I acquired a huge amount of debt, roughly 5K! I was in school and having only a part-time job obviously didn't help me solve my problem, I was browsing online and came across Credit Canada website and read through it. Long story short, I called and made an appointment. I was scheduled for a meeting with RANDOLPH TAYLOR; not only he was very accomodating, he made sure that I was comfortable discussing my situation and he thoroughly walk me through all the actions I needed to take. I can now finally say that I am DEBT FREE!! Thanks to Randolph and Credit Canada team! It was one of the best decisions I've ever made :)

    - Kiara Susi

    Making the decision to ask for help when dealing with debt is stressful to say the least, and contacting Credit Canada was the right one. From the initial contact with Credit Canada and our first meeting with Randolph to every follow-up or question inbetween, it was stress free and positive! Randolph made us feel at ease and took the time to examine many different options before choosing the program that worked for us. We are well on our way to being debt free and it's a great feeling! Highly recommend to anyone.

    - Jeannine Wellings

    I can't describe the relief I felt after meeting with Randolph at Credit Canada office. He gave me a number of options, explained all of the them in a very detailed way. He was genuinely trying to help me. I would highly recommend dealing with Credit Canada Dept Solutions in general and Randolph in particular.

    - Rami Shaker