Over 70% of our funding comes from tax-deductible donations from creditors and the credit granting community.

Creditors help fund our services and programs because:

• they value the impartial information, advice and counselling consumers receive free of charge
• they recognize and benefit from the success of our services and programs
• they recognize that their customers, who find themselves in financial difficulty, may be more comfortable receiving advice from an unbiased credit counselling service

The first step is an appointment with a counsellor to review your specific financial situation. The counsellor will determine if you have a reasonable budget with realistic expenditures. If there are surplus funds available to repay the debt, a debt repayment program may be an option for you.

A debt repayment program is typically 3-4 years. However, it can be longer or shorter depending on your circumstances. The counsellor will determine your time frame during your appointment.

A credit report is a summary of how you pay your financial obligations. It begins when you first apply to borrow money. It allows potential lenders to evaluate risk so that, based on your past performance, they can decide if you are likely to repay the borrowed funds or not.

There are 2 main credit bureau companies in Canada, Equifax and TransUnion, and each will send you a copy of your own report once a year for free (if you request it by mail or phone).

Credit is the purchase of goods and services in the present, with a promise to pay in the future, with money we’re still planning to earn.

The list includes: credit cards, student loans, personal loans, utilities (ie: gas, hydro, phones), overdrafts, cell phones on contract, lines of credit, mortgages and payroll loans.

The top 10 reasons for financial difficulty include:

1. Unemployment / Underemployment
2. Divorce / Separation
3. Injury / Illness
4. No spending plan in place to manage monthly and annual expenses
5. Excessive use of credit and credit cards
6. High student loan debt
7. High vehicle costs
8. High housing costs
9. Little or no savings
10. No long term planning in place

You may want to consider giving us a call if you:

• have no spending plan or budget in place
• use credit to pay for most purchases
• use credit to pay for credit
• spend more than your income
• don’t pay your bills on time
• have little or no savings
• receive letters or phone calls from collectors
• withhold spending information from your partner