According to the Financial Consumer Agency of Canada (FCAC), money is the greatest source of stress for Canadians – even more than work, personal and relationship issues. Almost half (40 per cent) of working Canadians feel overwhelmed by their current debt load, which continues to increase yearly for many. Unfortunately due to the COVID-19 pandemic, […]
What is Credit Counselling and How Does it Work in Canada?
Canadians are saddled with some of the highest household debt levels in the world, carrying $2.9 trillion in consumer and mortgage debt — nearly double what they carried 10 years ago. With more and more people attempting to live beyond their means, it’s only natural that credit troubles are also becoming more common. Insolvencies, and […]
Solve Your Debts with a Customized Debt Management Plan
There are few things worse in life than being saddled with loans that have spiralled out of control, and no hope to pay them back. If this situation sounds familiar, then it may be helpful to consider a debt management plan. With a debt management plan, anyone can become debt-free. It isn’t easy – it […]
Recognizing When You’re in Financial Trouble and What to Do
Financial problems often have a way of sneaking up on you. You can open a credit line here or buy a few things with your credit card over there, and before you know it trouble is on your doorstep. If you begin to ignore your finances, you could be facing payments that are beyond what […]
6 Ways Debt Counselling Can Help Relieve Stress
A recent study showed that Canadians feared debt almost as much as they feared death. In fact, 43 per cent of Canadians reported that they lose sleep over their finances, with the top concerns keeping them up at night being debt, a lack of savings and retirement planning. It’s no doubt that we’ve almost all […]
Where to Start If You Want to Get Out of Debt
In today’s world it is very easy to get into unmanageable debt without even realizing it. Trying to work your way out of it can be a very frustrating experience. Credit card interest rates, family obligations and even a decreased income as a result of a tough economy all can conspire against you in solving […]
How Can a Credit Counsellor Help Me Create a Debt Repayment Plan?
If you have gotten yourself into a credit or debt situation, you may end up in front of a credit counsellor at some point. A credit counsellor is a certified professional that will help you get your financial situation back on track and get you out of debt. Credit counselling isn’t a ‘quick fix’ solution and it […]
Can Credit Counselling Services Really Get Me Out of Debt?
For anyone who believes credit counselling services are some magical way to get out of debt, they aren’t. However, when you combine them with your participation and discipline, then you’ve got something. Credit counselling is all about finding the debt solution that will work the best for your individual situation. It isn’t magic, but it […]
Who Is Eligible For Credit Counselling Services?
Credit counselling services involve the assessment of your financial situation and the development of a methodic debt relief plan. Credit counseling is good for anyone looking to reduce or eliminate debt or simply wishing to learn how to manage money effectively. It is about getting the right advice from expert counsellors on how to handle […]
The Top 10 Reasons You Need to See a Credit Counsellor
By Susan Eisner 1. Trusted and local: You’ve decided to pick up the phone and call an organization that says they do “credit counselling”. But what questions should you ask? Are the counsellors certified? Do they offer in-person counselling? Check with the Better Business bureau (BBB) to see if the agency has any complaints filed […]
