On the internet we find that a lot of people look for our help by searching for topics that relate to getting help with their financial difficulties. Sometimes the topic's connection to financial and debt problems is evident and sometimes it's not. Regardless of what your situation is, we are here to help with all of these issues:
Q: If I can't afford to make my payments anymore do I have to go bankrupt?
A: Bankruptcy: A lot of people think that if their financial situation gets bad enough they will have to go bankrupt. However, they don’t realize that between financial difficulty and bankruptcy are many options. We specialize in helping people explore all of those options plus we can show you a number of alternatives to bankruptcy.
Q: What is credit counselling and why would I want to do that?
A: Credit Counselling: Credit counselling is one of the best kept secrets in Canada. Credit counselling offers consumers a chance to review their financial situation with a qualified Credit Counsellor. This is useful especially when you are experiencing financial problems which can be extremely stressful. A Credit Counsellor will help you by looking at your entire financial situation and discuss options that are available to you based on your financial situation.
Q: What is my credit info and where can I find it?
A: Credit Information: Many Canadians don’t know much about their credit report and what impacts their credit score. Only when they hit a rough patch with their finances do they wonder what influences their credit and what kind of credit information their credit report contains. If you would like to learn more about credit, check out this great blog article on MyMoneyCoach.ca about how your credit score is calculated. To get a copy of your credit report, click here to get detailed instructions from MyMoneyCoach.ca.
Q: How do you build credit?
A: Building Credit: There are many misconceptions about building credit. One of the biggest is that you need to have lots of credit in order to build credit. Another is that by doing certain things, you can repair your credit quickly. We can help you learn more about credit – what it takes to build it, ruin it, and build it back up. Call us to learn more.
Q: What do you do when the bank turns you down for a debt consolidation loan?
A: Debt Consolidation: One of the first things we consider when our debts are getting a little too big to handle is a consolidation loan. There are other ways to consolidate your debt that can save you thousands of dollars in interest, help you become debt free and learn lifelong money management skills. Speak to a Credit Counsellor to find out if this is an option for you.
Q:What is budget planning and how does it help?
A: Budget Planning: A budget is really just a plan for your income and your expenses. This plan allows you to allocate money for regular monthly expenses, irregular expenses, savings, fun money and even debt payments. Connect with us through a budgeting workshop or course or a one-on-one meeting with a credit counsellor for information, guidance and resources.
Q: How do I get a credit loan?
A:Credit Loan: Many people typically apply for a credit loan to borrow money from a bank, credit union or finance company for various things--including paying off our high interest credit cards. If you’ve used a loan to pay off credit cards more than once, we encourage you to speak to a Credit Counsellor as there may be more options available to you to deal with your debt and get your finances back on track.
Q: What exactly is a debt settlement and how can I find out if I can do this?
Debt Settlement: Sometimes when people can’t pay their entire debt off and they have access to a lump sum of money, they can offer their creditors a settlement to pay off their debt. This money can come from many different places and the amount offered depends on an individual’s situation. Call to speak to our Settlement Specialists and let us help you determine whether this is a good option for you.
Q: Can I quickly fix my credit?
Credit Repair: This is a popular question. Many people who have had financial problems want to know how to repair their credit. Credit can be repaired just as it can be damaged. You usually can't destroy your credit overnight; neither can you expect to fix it that quickly either. Your best bet is to speak with a Credit Counsellor to learn more about strategies you can possibly use to rebuild your credit.
Credit Calculator: A credit card calculator can help you identify the impact of not repaying your credit cards promptly and just how much interest your credit cards may be costing you. Feel free to check out our selection of helpful credit card and money management calculators.
Bad Credit: Good credit is easier to keep than to repair. There are multiple factors that can lead to bad credit. Bad credit can have an impact on employment, rental options, accessing more credit, and overall quality of life. Connect with a credit counsellor for ways to improve your credit.
Budget Planner: A budget does not have to be a complicated and frustrating process. You can create a planner that accounts for your income as well as your budgeted expenses on a daily, weekly and/or monthly basis. Call us to book yourself into a budgeting workshop or meet with a credit counsellor for a budgeting session.
Get Out of Debt: Many Canadians are deeply in debt and are struggling to find ways to get out of debt. Some people who have exhausted conventional financing options resort to higher risk lenders to resolve their debt problems. Call the Credit Counselling Society for options that can fit your budget, reduce your stress and get you on track to being debt free.
Money Management: Financial literacy is an essential skill in today’s society. When people know how to properly manage their money, live within their means, and use credit wisely, they have more choice, freedom, and less stress. Call and speak to a credit counsellor to learn how to manage your money more effectively.
Money Stress: Financial problems create a tremendous amount of personal stress and it can easily have a negative impact on our sleep, health, relationships and work. Worrying about money just makes things worse. Call us now to speak to a credit counsellor who can review your financial situation, give you options, information and resources so that you can take action and reduce your money stress.
Debt Counselling: When people who are experiencing money stress speak to a credit counsellor and receive debt counselling, they become armed with information, options and resources. These three things can help people step into action and get on track towards being debt free. Call us immediately for help.
Debt Free: Have you ever wondered what it would feel like to be debt free? You could see yourself removing the handcuffs of debt and enjoying more choices and freedom with your money. This doesn’t have to be a dream – call a credit counsellor now to discuss ways to make debt freedom a reality.
Fix Credit: There are organizations out there that will promise to fix your credit problems in a very short period of time, for a price. Buyer beware – credit can only be repaired so quickly and items will remain on your credit report until the statute of limitations expires. Talk to a credit counsellor today to find out how you can repair your credit and prevent any future damage.
Bill Consolidation: When you are looking to consolidate your bills, one simple monthly payment with lower interest rates can sound like a dream. In fact, it can be a reality. Speak to a credit counsellor to see if one monthly payment at reduced interest fits with your financial circumstances.
Budgeting Tips: One of the best strategies for budgeting is tracking all your expenses. This allows you to see exactly where your money is going instead of guessing, assuming and speculating. Call us to book an appointment with a credit counsellor or attend a budgeting workshop to learn more budgeting tips and techniques.