When challenged by debt that continues to grow, credit counselling may be a great course of action: It can provide you with an insightful and practical set of resources to get your finances back on track, and help you avoid falling too deep into insurmountable debt. It’s also an important part of the Bankruptcy process, and can be an effective supplement to any other debt solution. But how exactly does credit counselling work?

To help you get more comfortable with the idea of credit counselling in Toronto, we’ve broken it down to its basic components so you can understand exactly what to expect from our Toronto credit counselling services.

The First Step is Always a Professional Consultation

As with all of the services we provide at Fuller Landau Debt Solutions, the first step is to meet and get to know each other a bit better. After all, you need to feel comfortable and confident with your choice of debt counsellor. Together, we’ll review your specific situation to make sure that credit counselling is the right option for you – no blame or judgment; just sound advice and compassionate guidance. We’ll take a look at your current income and debts, to determine if credit counselling is a sufficient course of action, or if you require more formal measures, such as a Consumer Proposal, Bankruptcy, or debt consolidation. Your goal – and ours – after all, is to help you resolve your debt issues once and for all, so you can regain control of your life.

Planning and Budgeting Assistance

If credit counselling in Toronto is the most suitable option for your current situation, one of our experienced Licensed Insolvency Trustees will provide you with a number of tools and resources to create a manageable household budget. We’ll offer simple yet practical strategies for working off your current debt load and avoiding further debt in the future.

If you opted to file for Bankruptcy, credit counselling will be a mandatory condition of your Bankruptcy terms. You will be required to attend two credit counselling sessions with your Licensed Insolvency Trustee (each session is 30-60 minutes), in which you will receive valuable information on rebuilding your financial situation and avoiding money management issues that may cause financial trouble in the future.

Creditor Negotiations

As Licensed Insolvency Trustees, we have the authority to contact creditors on your behalf, if necessary and with your permission, to negotiate more manageable payment plans on your outstanding debt. We can also advise you on consolidating your debts to minimize interest and ease your financial pressures.

It’s That Easy.

Our debt counsellors and Licensed Insolvency Trustees are here to help. To learn more about Toronto credit counselling – or other debt management solutions like debt consolidation, Consumer Proposals, or Bankruptcy, call today for a free consultation. With offices in Toronto and Hamilton, our team is here to help you get a fresh start and lead a FULLER life.

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