Getting Started FAQ
Here are the most commonly asked questions we get about starting with a credit counselling session
A credit counselling session is an important first step towards finding debt relief. A trained credit counsellor can advise you on how to make the right financial decisions for your particular situation.
This How to Get Started FAQ section shares the answers to the most common questions we are asked about getting started with a credit counselling session.
Q: What do Consolidated Credit trained counsellors do? How can they help me?
Credit counsellors determine the steps needed to face problems with debt, even if you decide not to enroll in a debt management program or continue with the credit counselling process. When you feel uncomfortable or stressed about your situation, it can feel almost impossible to deal with your financial problems. However, having a consultation is the first step in finding an appropriate debt relief solution.
Q: What do I need for my first session?
To complete your initial evaluation, you will need to bring the following information with you to show the credit counsellor:
- Your take home (net) income
- For each credit card, you will need account information including the current balance, APR and current payment
- Monthly payment and balance outstanding amounts on other debts you may have, such as mortgage, car loans and utilities
- Estimates of your monthly budget spending items, such as food and gas
- You may review your credit report with a credit counsellor to determine your credit profile
Your credit counsellor will use this information to advise you on ways you can get out of debt for your particular situation. Since debt solutions can vary, a full analysis is necessary to determine your next steps.
Q: How will I contact your credit counsellors?
Deciding how you want to work with your trained financial counsellor is up to you. If you wish, you may meet with a trained counsellor in person, but many consumers decide to have their sessions over the phone or online because of convenience. By speaking over the phone, you can complete your analysis right away so you don’t have to stress any further about finding a clear answer to your debt problem. If contacting a counsellor online, you don’t need to complete your debt analysis in one session, so if you have a busy lifestyle, this option may allow you more time. Either way, your path to financial recovery with your credit counsellor will help you figure out the best way to get you out of debt.
Q: Is there a fee for getting started?
There is absolutely no fee to get started with your free debt analysis.
Q: Are my sessions with the credit counsellors confidential?
Yes. Consolidated Credit provides confidential assistance to Canadian individuals and families struggling with debt problems.
Q: When will I know if a debt management program is right for me?
At the end of your session, you will know if a debt management program is decided to be the best choice for you. The credit counsellor will be able to tell you how much you will need to pay per month on your reduced debt payment, as well as how long it will take to complete the program.