Tuesday, January 10, 2023

Where Credit Is Due

If mounting Christmas bills have you stressed out, you’re certainly not alone. Even before the pandemic, Canadian families on average spent more than $1,500 during the holiday season. Inflation and the lingering effect of COVID lockdowns during 2022 may have many Canadians facing a full-blown credit crisis.

If you’re having trouble managing your debt, consider getting help from a reputable credit counsellor. A credit counselling agency can provide a range of services, including

• one-on-one counselling,

• seminars on how to make a budget and stick to it or how to use credit wisely, and

• debt management plans.

Both not-for-profit organizations and for-profit companies offer credit counselling services. A counsellor will help you explore your financial options and work toward a solution. All information you share is confidential, and talking to a credit counsellor will not affect your credit score.

Do your research to find a trustworthy organization and a qualified counsellor. Make sure you know what services they offer and how much they charge. Reputable agencies can be found through Credit Counselling Canada.

A legitimate credit counsellor will never pressure you into buying products or choosing a specific solution. Their main goal is to offer financial knowledge, make suggestions and, when necessary, help negotiate with your creditors or familiarize you with debt management strategies.

Watch out for individuals who claim they can solve your financial problems for an upfront payment, improve your credit score, or remove negative information from your credit history. You are the only one who can repair your finances, pay your debts, and restore your credit rating.

Where Credit Is Due

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