OCTOBER 2009

Our Mission: To provide a charitable community service dedicated to assisting consumers in financial distress.

VOLUME 1, ISSUE 1

What is Credit Counselling Anyway?

Credit Counselling Services of Atlantic Canada (CCSAC) has certified counsellors that talk to people who may be experiencing financial difficulties or could simply be looking to take better control of their money management. The numbers may be large or small but the distress is all the same. We have seen people burdened with $2,000.00 in debts and others with unsecured debts in excess of $150,000.00.  Each is suffering from the same distress; same lack of sleep.

The process involves a full confidential review of each consumer’s financial situation. The questions asked include: What do you own?, what do you owe?, how much money do you have coming in? and where is it all going? The questions aren’t complicated but finding the answers can be.

Whenever we speak with a client, our counsellors spend a good deal of time on budget and money management issues. We don't judge you on how you got into debt. What matters most is making a change and going forward. We can usually show the consumer a balanced budget for basic living expenses. In many cases something has to give and it's up to the individual consumer to decide where and how to reduce expenses. We don't make decisions on where anyone spends their money but it's important that consumers know where their money is going. 

Our job as credit counsellors is to get all the information about your particular situation and come up with some options for you to consider. What do you need to do to go forward? There are a number of possibilities: a mortgage refinance, a consolidation loan, selling some assets, better money management or doing more with what you have. 

CCSAC also offers a Debt Management Program. This is a voluntary program where we act as a neutral third party and ask your unsecured creditors to accept smaller payments generally over a longer period of time. We also ask your creditors to eliminate or reduce their interest rates so that your payments will go towards the principal rather than the interest. In five years or less, you will be out of debt. And you will have repaid 100% of your debts.

If you would like more information on CCSAC and the services we provide please visit us at 
www.solveyourdebts.com