Nova Scotia Credit Counselling

Credit Counselling in Nova Scotia, NS

Household debt is increasing in Canada, with some parts of the country worse affected than others.

If you need advice, or you’re searching for credit counselling in Nova Scotia, this guide should come in handy.

What is credit counselling?

Credit counselling is a service that is designed to benefit people who are facing financial difficulties and struggling to pay off debts.

Consumer debt is rising in Canada, and many people are burdened by credit and store card debts, loans and mortgages.

A survey revealed that Canadian adults spend an average of two hours per day worrying about money.

Credit counselling helps to alleviate stress and help those who are having trouble managing their money find a way through.

Nova Scotia credit counselling

Household debt is increasing across Canada, but some regions are worse off than others.

Figures suggest that in Nova Scotia, the average household owed $22,229 in 2016.

With borrowing rising, and financial difficulties expected to intensify as a result of the global Coronavirus pandemic, the figures could spiral in the years ahead.

Nova Scotia credit counsellors work to help people get out of debt, to make financial arrangements with creditors and to equip individuals with the tools they need to work towards a more stable future.

The average credit score in Halifax, Nova Scotia (638) is lower than the national average (650), and working with experts and seeking advice can help to improve credit rating.

How can credit counselling in Nova Scotia help?

If you can’t pay your bills, and you’re starting to receive letters or phone calls from creditors or debt collection companies, it’s natural to be worried and anxious.

If you do reach this point, you might feel that there is no way forward, and you’re destined to be in debt forever, but this simply isn’t true.

Credit counselling services in Nova Scotia are there to help.

Seeking advice from a credit counsellor can help you in the following ways:

  • Credit counsellors can negotiate with creditors to come to an arrangement, which enables you to pay bills and clear debts;
  • Credit counselling can help to lower interest fees, saving you money in both the short and long-term;
  • Consolidating your debt: it may be possible for credit counsellors to help you consolidate your debt to create a manageable payment programme, which enables you to start afresh and take control of your finances;
  • Learning to budget: people who have never learned to budget are excellent candidates for credit counselling. Using traditional tools and new techniques, such as apps, you can track spending, allowing you to save more, clear debt faster and prevent overspending.

Should I see a credit counsellor?

If you’re looking for advice to help you reduce debts or work towards long-term financial goals, it’s beneficial to see a credit counsellor.

Tackling financial problems early can help to prevent debts spiralling out of control and provide peace of mind.

For expert advice in Nova Scotia, don’t hesitate to get in touch.

Summary

Credit counselling can be incredibly useful for people who are struggling with debt and those keen to start managing their money.

If you’re searching for a reliable, experienced credit counsellor in Nova Scotia, contact us today.

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