How we can help Veterans
Are you struggling with your personal finances?
- Does your debt keep you up at night?
- Is money causing friction in your relationship?
- Are you worried about your credit?
You are not alone! Just as you had a team in the military, when you connect with a non-profit credit counsellor, a team is available to help you navigate your situation.
Stacy Yanchuk Oleksy, CEO of Credit Counselling Canada explaining what non-profit credit counselling is.
You can chat with a non-profit financial counsellor about your situation when you’re ready. You will walk away with a plan of action, resources, and a teammate who will help guide you.
Frequently Asked Questions
Many people have questions about credit counselling. Here are some frequently asked questions:
Non-profit credit counselling agencies in Canada provide free financial counselling, access to low-cost debt solutions, and financial education.
Non-profit credit counsellors work with any consumer to talk about their budget, credit, and debt. They co-develop spending plans along with debt management plans.
There are no eligibility requirements. You only have to reach out for help.
No. All financial counselling appointments are free of charge. Debt restructuring plans do have small fees, that can be waived.
Non-profit credit counsellors are required to obtain and maintain their Accredited Financial Counsellor designation.
No. Meeting with a credit counsellor has no impact on your credit score. In fact, no one will ever you know you saw a credit counsellor unless you told them.
First, you’ll walk away feeling heard and understood; second, you’ll walk away with a plan for your money (spending plan, credit, and/or debt), and third, you’ll walk away with resources to support you on your financial path.
Non-profit credit counselling agencies do not lend money however for some people, they are able to restructure and consolidate debt into one money payment, with interest relief.
The DMP/DRP is a voluntary program between a consumer, their creditors, and the non-profit credit counselling agency. The agency can restructure unsecured debts into one, simple monthly payment. Most creditors will waive interest to assist with debt repayment.
There are no qualifications or eligibility criteria for the DMP. However, a consumer must be able to afford the monthly payment within a balanced budget.