Credit Counselling in Calgary, Alberta
Asking for help is hard, but when you finally do, the results can be life-changing.
Anyone who feels overwhelmed with financial stress should consider enrolling in a Calgary credit counselling program.
There are several solutions available that can be customized to your unique needs.
Best of all, you’ll benefit from the assistance of qualified professionals who want to help you improve your life.
Find out what credit counselling is, which options you can use to help improve your situation, and who is most likely to benefit from these services.
When you’re ready, make an appointment to talk to a certified credit counsellor.
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Credit Counselling Explained
When your finances feel more like a burden than a resource, it may be time to consider credit counselling.
You can work with an accredited financial counsellor to get professional, unbiased advice that will set you on the right path toward reaching your financial goals.
Plus, credit counselling isn’t just about your money; it’s for your emotional well-being as well.
A recent study revealed that 67% of Canadians worry about their finances.
Concerns about going further into debt topped the list of issues that keep people up at night.
Addressing your debt with a professional plan gives you confidence in the decision-making process because you’re not going through it alone.
Instead, you’re partnering with a credit counsellor who only has your best interest in mind.
There’s no one-size-fits-all solution when it comes to credit counselling.
Depending on your specific situation, you may benefit from one of several available options.
Here is a brief overview of three of the most common financial solutions that result from receiving credit counselling in Calgary.
Debt Repayment and Settlement
One option for debt relief is to enroll in a debt repayment or debt settlement plan with the help of your credit counsellor.
You may be able to save money by reducing your accrued credit card interest or having it erased altogether.
It’s also possible to consolidate your debt so you can deal with just one monthly payment rather than managing multiple payments with different creditors.
Often, debt consolidation also helps you avoid accruing extra late fees if you forget to pay your bill for the month.
Your credit counsellor might also recommend that you enroll in a debt settlement program.
This process involves having a professional negotiate your debts on your behalf.
Often, creditors are willing to accept a lower amount than what you owe to settle your debt, especially if they think you’re unlikely to be able to repay the full balance.
By enrolling in Calgary credit counselling, you can have a professional weigh in on the pros and cons of all of your options.
You can also leverage their professional experience to get an idea of how one option will work compared to another in your specific situation.
Credit and Money Management
Credit counselling helps you understand how to best manage your money and credit in a way that actually works for your life.
Maybe you’ve tried making a budget before, but you couldn’t make it stick.
Your credit counsellor can dive deep into your spending habits and identify your blind spots so you can make changes that impact your finances.
Credit counselling offers you useful tips on how to use free tools like a budgeting worksheet, so you can easily track your expenses and categorize your spending.
Whether you’ve given up on budgeting before, or simply have never given it a shot, learning how to manage your money with a professional will set you up for success.
Credit and Debt Education
No matter where you are in your financial journey, it’s smart to understand how your credit and debt impact each other.
Debt isn’t always a bad thing, but when it’s handled the wrong way, you can damage your financial well-being and credit.
A bad credit score then leads to less favorable debt terms. It’s a vicious cycle you can break with some basic education from a credit counsellor.
Credit and debt education are by no means rocket science; in fact, there are just a few topics your counsellor will cover that can make a huge difference in your financial success.
First, you’ll find out what goes into your credit score.
Next, you’ll learn the importance of making your debt payments on time (Spoiler Alert: This is actually the biggest contributor to your credit score—for better or worse).
Finally, you’ll learn about how to use credit cards responsibly so you don’t end up with more debt than you can afford.
Who benefits from credit counselling?
Credit counselling isn’t necessarily for everyone, but it can be a life-changing resource for individuals in certain situations.
Regularly receiving calls and letters from debt collectors is a red flag that might indicate you can benefit from Calgary credit counselling.
Another warning sign is that you’re having trouble keeping up with your debt payments each month, or if you already can’t afford them.
If you feel like you’re on the verge of bankruptcy and don’t know what else to do, it’s probably time to consult with a credit counsellor.
How to Pick a Credit Counselling Firm
You may want to ask family and friends to recommend a credit counselling firm, but that doesn’t mean you shouldn’t do some research to find the best option out there.
First, find out what kind of qualifications the counsellors hold.
Make sure they have an appropriate level of professional certification so you can trust their advice.
Also, check if organizations such as the Better Business Bureau, Credit Counselling Canada, and the Council on Accreditation endorse the company.
You can also read online reviews and testimonials to get an idea of the quality of help you can expect.
If you’re feeling overwhelmed by your debt and would feel relieved to have a certified professional by your side, reach out and schedule a call today.
We’re here to help with all aspects of credit counselling in Calgary.
Remember, you don’t have to go through your financial hardships alone.