The Credit Counselling Society (CCS) is one of the leading non-profit credit counselling agencies in Canada, which helps people facing debt problems. CCS was founded in 1996 and offers debt counselling, DMPs, and other financial education services. In this article you will learn about the background of the organization and the list of services so that you could decide whether this debt counsellor is suitable for you.
Brief Overview
CCS is a member of the CACCS, has an A+ rating with the Better Business Bureau (BBB) and is well known for its beneficial contributions to the financial situations of Canadians.
Some more details:
- Official Name: Credit Counselling Society
- Website: https://www.nomoredebts.org
- Founded in: 1996
- Phone Number: 1-888-527-8999
- BBB Rating: A+
- Headquarters: 400-88 Sixth Street, New Westminster, BC, Canada
Can CSS Help You Clear Your Debt?
Yes, the Credit Counselling Society can assist you to manage your debt and also provide you with information on how to avoid getting into costly loans and other risky options. Unlike commercial banks that deal in services like high-risk, high-return investment products like loans, their business model is anchored on reducing interest rates. CCS has been assisting people in avoiding extreme measures of handling their debts, such as bankruptcy or consumer proposals, by providing other less severe measures like consolidation of debts and debt management advice.
List of Services Provided
Here’s a closer look at some of the key services CCS offers to Canadians:
Debt and Credit Counselling Services-Free
The Credit Counselling Society provides a face-to-face or over-the-phone consultation with a credit counsellor who will evaluate your personal situation. They offer advice on how to handle debts and spending and transform one’s behaviour in order to be financially wise. CSS does not charge for their initial consultation.
Debt Management Plans
CCS has a DMP service for those who are struggling to pay their bills because of high debts. They negotiate with your creditors in order to consolidate all your payments into one with a lower interest rate.
Debt Consolidation
CCS can assist you to combine all your debts into one monthly payment. They negotiate with creditors to lower the interest rates and charges that are involved in the repayment process hence making it easier and less expensive.
Financial Education
The Credit Counselling Society is committed to the promotion of financial literacy. They organize seminars and online classes on budgeting, credit, and saving. Their free educational materials help people avoid getting involved in any form of debt in the future as they make the right decisions regarding their finances.
Housing and Mortgage Counselling
CCS provides special services to homeowners who have problems with their monthly payments on their homes and provides foreclosure prevention assistance. They can assist you in terms of guidance on how to handle mortgage, how to handle creditors and how to change in order to keep the home.
Student Loan Counselling
CCS also assists people in dealing with student loans and student loan forgiveness. This service may be useful for those young people who have recently graduated from universities and have a large student loan.
Referral to Licensed Insolvency Trustees (LITs)
CCS also offers debt management plans and debt counselling and can also provide a referral to a Licensed Insolvency Trustee for cases that require bankruptcy or a consumer proposal. This referral is only made when all other avenues that can be taken to help the debtor have been explored.
Final Thoughts
If you have debt problems in Canada and need a real and reliable credit counselling organization, the Credit Counselling Society may be suitable for you. Their certified credit counsellors offer advice, and their services aim at helping people manage their debts without the need to sell them more credit or expensive financial services.
If you are struggling with your debt consolidation, budgeting, or just trying to understand the details of student loans or mortgages, CCS can be of great help on your way to financial liberation.
To learn more, please go to their website or call them to set up an appointment for a complimentary consultation.
FAQ
Q: Is Credit Counselling Society a non-profit organization?
A: Yes, CCS is a non-profit organisation that provides free and low cost debt relief services.
Q: How do I get started with the Credit Counselling Society?
A:You can start by visiting their website at www.nomoredebts.org or calling their toll-free number at 1-888-527-8999.
Q: Will using a debt management plan affect my credit score?
A: The effect of DMP on your credit score is slightly negative in the beginning but is not as severe as other methods such as bankruptcy and a successful completion of the DMP actually leads to the improvement of the credit score.
Q: Are there any upfront fees?
A: No, CCS does not charge any upfront fees.
Saqib has a Masters Degree from Wilfrid Laurier University in Ottawa. He has a robust background in accounting and finance. Mohammed started his career three years ago working as an investment analyst at a sell-side firm. He has extensively covered publicly-listed companies using fundamental analysis as the cornerstone of his approach. Mohammed has been published on SeekingAlpha, InvesorPlace, Yahoo! Finance and others.
