This a process in which a person will meet with one of our counsellors in order to have his/her financial situation assessed. At this session, a complete analysis of the financial situation is done after which a discussion will take place as to the current areas of difficulty and the possible alternatives to deal with them. The counsellor will also guide the person in the areas of rights and responsibilities in regards to his/her debt and creditors.
Advantages/Disadvantages:
The advantages to credit counselling are immediately evident. It offers a non-legislative opportunity to re-organize and restructure a family's financial situation. It affords an opportunity to avoid financial difficulty in the future, will help avoid the stress associated with financial problems and will help to develop the skills and habits necessary to maintain a balanced family budget.
The main disadvantage to credit counselling is that it does not offer the protection from creditor action and is not legally binding on all creditors as in a consumer proposal or bankruptcy. While budgeting may be the answer to the financial problems, the results are not immediate and often require sacrificing lifestyle. Long term budgeting will only work with dedication and the cooperation of all family members.
Budgeting:
Our professionals will give you tips on how to keep track of your expenses in order to develop the skills and habits necessary to maintain a balanced budget. The focus will be on establishing priorities in order to help correct bad spending habits. This will assist you in taking control of your family's financial future and allow you to establish and reach your short and long term goals.
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