Alberta Credit Counselling
A debt management plan: one payment, interest often reduced or paused.
Published Updated
- Reduces what you owe Interest often
- Legal protection No
- Who provides it Accredited agency
Alberta credit counselling can help you in a tight spot. Credit is a nearly inescapable aspect of modern life. From mortgages to car loans to credit cards and much more, loans make large purchases more affordable and enable consumers to buy the things they want or need without having to save for years beforehand. However, even the most scrupulous spenders may find themselves in a situation where their debt is out of their control.
If you are having trouble managing your debt, Alberta credit counselling may be the solution for you.
Consumer Debt in Alberta
For the past several decades, consumer debt throughout Canada has been on the rise. In the past few years, however, consumer debt in Alberta has risen more quickly than in other areas of the country. In Q2 of 2022, for example, Statistics Canada reported that the average level of consumer debt in the province was $59,869. Over $13,000 higher than the national average. Getting control over this debt has been a priority for many families and individuals, which is why so many have looked into credit counselling in Alberta.
Credit Counselling in Alberta: What Is It and How Can It Help You?
Depending on your situation, there are many different options in Alberta for dealing with your consumer debt. Those in dire straits may find that filing for bankruptcy is their only option. Others can get out of debt with the help of a consumer proposal. Before choosing these options or any other, however, it is wise to consider the credit counselling process.
The Credit Counselling Process
Credit counselling offers a comprehensive approach to debt management and credit repair. Knowing that many credit problems are caused by consumers' lack of understanding in dealing with creditors as well as their failure to budget properly, credit counselling works to address both problems. A typical Alberta credit counselling program offers:
• household budgeting advice
• affordable debt repayment plans to get you out of debt and save you money on interest payments
• advocacy with creditors to negotiate repayment plans and lower interest rates
• practical tools for debt management and securing affordable loans in the future
Consumers meet with a credit counsellor to set up a debt repayment program. The counsellor monitors the program, providing guidance along the way.
Do I Need Credit Counselling?
Credit counselling can be incredibly effective if you have a debt problem. Here are some signs that you may need credit counselling in Alberta:
• collections agencies regularly contact you regarding uncollected debts
• you must regularly borrow money from one creditor to pay another
• you are unable to make the minimum monthly payments on your consumer debts
• you are having difficulty securing new loans for purchases such as a home or vehicle
• there is little money left over at the end of the month after you pay all your debts
Review Your Options
Looking for Credit Counselling resources available in your city:
Related to: Alberta Credit Counselling
What Canadians tell us
“Everything is well laid out and you are left in no doubt what to do next. Everyone I talked to listened to me and were very personable.”
“I really and truly, finally can look at retirement in a positive light.”
“I foresee getting back in control of my debt. The stress was making my health worse. I feel there is a light at the end of my tunnel.”
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1 (844) 845-4219Find out if credit counselling is right for you
Tell us roughly what you owe and we'll show you what your options could look like.
