Debts out of control?

Don't be scammed
Credit counselling services can be a real boon to the consumer. But not all agencies are above board. To be sure that you're dealing with a non-profit, professional organization start with either a Credit Counselling Canada member or one of the other agencies recommended by Canada's Office of Consumer Affairs (their list is available here). Other organizations may charge higher fees or in some cases retain a portion of any payments you make through them.

Once you've chosen your agency, here's what to expect.

First consultation
Some agencies offer online or telephone support for your first session, but others will book an in-person appointment. In most cases this first appointment is free.

Your counsellor should be professional, friendly, and non-judgmental. Your information should be kept entirely confidential; if you are not sure about the agency's policies, ask.

In order for a session to be valuable, you will need to provide a fair amount of information: income statements for at least the last two pay periods (or longer, particularly if your income is irregular or you are self-employed); monthly expenses; assets; and debt information, including the last monthly statements if at all possible. Many agencies provide worksheets on their websites, or even online calculators, to help you gather the information.

Services offered
The primary goal of most credit counselling agencies is to support you in achieving financial stability – not just by offering education and information, which agencies often do, but also by coming up with one or even several plans of attack specific to your finances and situation. Of course implementing the plan will be up to you.