Credit Counselling FAQ
Exactly what to expect from a call to Consolidated Credit
If you are visiting this page, chances are you are dealing with debt. You’ve probably started to research your options and you are curious about how credit counselling can help you. You might even be thinking of reaching out and calling us.
If you’re unsure about credit counselling, we’ve compiled a list of frequently asked questions that should explain exactly what it is and how it can help you.
After you learn a bit more about credit counselling, the easiest thing to do is to call us at 1-888-294-3130. A friendly, reassuring voice will greet you on the other end of the line and you can start learning about your options. You could even fill out an online request for a Free Debt Analysis after which a credit counsellor will reach out to you.
Why should I contact a credit counsellor?
A credit counsellor is like any expert you would contact if you had a problem that you weren’t sure how to fix. They know the ins and outs of the Canadian financial system and can inform you about the options that are available and most relevant to you. And best of all, a credit counselling session is completely free!
How does a credit counselling session work?
Most of our clients say that their first credit counselling session went much smoother than they ever expected. That’s because our credit counsellors are highly experienced in helping out with situations involving debt. A basic counselling sessions consists of the following parts
- The credit counsellor will analyze your debts
- This allows the credit counsellor to understand your personal financial situation in order to give the best possible advice
- The credit counsellor will examine your budget
- During this phase, the credit counsellor will ask you a variety of questions about your income and your expenses. This will help them get a better idea of your personal needs and cash flow
- The credit counsellor may pull your credit report (soft pull) to help establish your current credit profile.
- This is necessary so the credit counsellor can see the current status of your credit report. This credit check will not affect your credit rating
- The credit counsellor will go over your options for getting out of debt
- You will be given an expert opinion on what path you should take to debt freedom
- If you select a debt management program, you can enroll immediately
- If you qualify for a debt management program and decide that it is the best method for getting out of debt, the credit counsellor will guide you through the enrollment process. You will be told exactly how much your new monthly payment will be and how long it will take you to become debt free. If you still want to think about it, it is a voluntary program, you can wait and organize a time to speak with your counsellor another time.
Who are the credit counsellors?
Credit counsellors are trained professionals who have experience working with Canadians in debt. They are ready, willing and able to assess your unique situation and explain what options are available.
If you’d like to meet some of the credit counsellors who may help you, click here to meet and learn more about our Credit Counsellors.
Does it matter where I live?
No. Consolidated Credit is a national credit counselling organization. We help Canadians from the Atlantic to the Arctic to the Pacific Ocean and all places in between.
Is a credit counsellor paid on commission? Do they get money if I join the program?
Absolutely not. Our credit counsellors receive their salary whether you select a debt management program or not. They are not commission-based employees.