Credit Counselling in Nanaimo

Does it seem like the higher cost of living due to inflation is making it more and more difficult to make headway into paying off your debts? Maybe it has gotten to the point where your debt is increasing each month just to get your basic living needs. As you approach the credit limits on your credit cards, and line of credit, you may wonder if now is the time to seek out consumer credit counselling in Nanaimo.

What are my options?

Canadian credit counselling is a rather generic term that can be applied to a variety of options. Often it involves interacting with our experienced Nanaimo financial counsellors who will look over your financial situation and provide you with some feedback as to how to change it. Here are some specific options:

1. Review of monthly budget

Many people that we talk with do not have a monthly budget. This is definitely the first step into getting on track financially. If you currently do not have a budget we can walk you through how to set up a realistic one. Sometimes, this can be all it takes to get going in the right direction.

2. Informal arrangements with creditors

Does it seem like the phone just doesn’t stop ringing as one collection agency after another calls requesting payment? This is not pleasant in any way. Sometimes it is possible to make an informal arrangement with your creditors to pay a portion or all of your debts over time. This can be done via a structured monthly payment or by way of a one time payment if funds are available. We can help you negotiate this.

3. Federal Government of Canada Debt Relief Programs

If you require financial help in Nanaimo you should definitely be aware that the Government of Canada has programs in place to provide relief. These programs are administered by a Licensed Insolvency Trustee. The most popular plan is called a Consumer Proposal. This program allows you to make an interest free offer to pay back a portion of your debt over time with a payment that fits your budget.

In addition, there are two mandatory financial counselling sessions which provide you with online resources and the opportunity for two face to face sessions with our qualified Nanaimo financial counsellors to help chart your new financial future.

Where can I go for financial help in Nanaimo? We offer a free consultation

 If you are ready to take back control of your finances you need good information and advice as to how to do that. Everyone’s situation is a little bit different and it is important to get the feedback that is most relevant to you. Make sure you are aware of all your options, and what they cost, by taking advantage of our free initial consultation. You will be glad you did!