Is independent credit counselling right for me?

If you have debt problems that are affecting your sleep, your health, or even your relationships, an independent credit counsellor may be able to help put an end to your stress and provide alternatives to filing for bankruptcy.

• Are you drowning in debt?
• Struggling to make your minimum payments?
• Do you wish someone could help you figure out a plan to tackle what seems like insurmountable debt?

A credit counsellor may be able to help you.

Credit counselling agencies provide a range of services for people in financial difficulty.

• Most commonly, credit counsellors help people find the best strategy for paying off their debts, through a debt management program.

Credit counselling agencies can also offer one-on-one counselling, group courses and seminars on topics such as:

• Creating a budget and sticking to it
• Using credit wisely
• Improving your credit report and credit score

Some credit counselling agencies charge a fee for their services, and the amount varies from agency to agency.

• Before you use their services, do some research to make sure you know what costs are involved and what services you will receive.

Provincial and territorial governments are responsible for regulating credit counselling agencies and investigating consumer complaints.

Visit a financial institution and discuss your financial situation directly with them.

• It may also be a good idea to speak to your creditors and try to come to a solution, like a lower interest rate or debt consolidation.

Seek out tips and advice from reputable sources, such as financial advisors, trustees in bankruptcy or insolvency lawyers.

• They may suggest that you explore other avenues before you make a final decision.