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Credit counselling

Grant Thornton provides a free review of all your debt help options, including credit counselling in Calgary, Edmonton, and throughout Alberta.

What is credit counselling?

"Credit counselling" means something different to different people. It can provide a variety of information and assistance regarding debt issues and money management. It can be a way for someone to seek advice and find debt solutions or to get help with managing credit or personal budgeting.

Why would I come to Grant Thornton for credit counselling?

Our Licensed Insolvency Trustees and administrators provide one aspect of credit counselling as part of their role at your very first meeting with them. There is no charge or obligation for this first meeting. We will learn about your debt problems; answer your questions about debt solutions, debt consolidation, and tell you about all possible ways to address debt problems.

As a Licensed Insolvency Trustee, when we help someone make a Consumer Proposal or enter into Bankruptcy, — providing credit counselling is statutorily mandated through the Bankruptcy and Insolvency Act. When you attend one of these counselling sessions you will meet with a qualified counsellor who has undergone a course of study and a minimum of 100 hours of on-the-job training. When we help individuals and families implement informal debt restructuring, the counselling we provide is part of delivering good service and helping you consider all your options to help build a sound financial future.

It makes sense to talk to one of our Trustees about your debt problems because they are knowledgeable and experienced. It's a one-stop opportunity to receive credit counselling from a respectful professional who will provide information on all available debt solution options. The Trustee can also then assist you with a Consumer Proposal or Bankruptcy, if that is appropriate to your debt situation — and, is what you choose.

If I’m struggling with debt, what type of credit counselling would I receive?

If you meet with one of our Trustees you will have the opportunity to discuss your debt problems and explore debt solutions. Later, if you do make a Consumer Proposal to your creditors or you enter in Bankruptcy the mandatory counselling provided as part of this process includes: understanding how debt problems can occur, budgeting, obtaining and using credit in the future, and an overview of personal financial planning.

Are all credit counselling service providers the same?

No. Credit counselling services vary in type, quality of guidance and cost. At Grant Thornton all our Licensed Insolvency Trustees are qualified and are mandated (in some situations) to provide credit counselling. There is no cost or obligation for a meeting with one of our Trustees and you can discuss your debt problems and explore all available debt solutions. There is no obligation to take any course of action after meeting with us.

There are reputable not-for-profit organizations that offer free credit counselling too. They help with personal budgeting and money management. In Alberta, Money Mentors can also help you make a court ordered debt consolidation which provides interest relief and creditor protection.

Other for-profit organizations provide credit counselling or debt reduction or debt solution services but there may be fees for their help. Some organizations appear to be not-for-profit but their services to help people reduce debts are either paid for by the consumer or indirectly by creditors for whom they help secure debt repayment.

Some companies promote 'debt pooling' as a debt solution. They take a single lump sum payment from you and they distribute payments in an equitable manor to your creditors. Some of these companies charge individuals for their services; others are funded primarily by donations from major creditors.

Can credit counselling help me with debt solutions?

Yes. Through credit counselling you can learn about various ways to address debt problems. Speak to one of our Licensed Insolvency Trustees and you will gather information and advice on debt solutions. There are various options.

We can help

Our Licensed Insolvency Trustees (formerly called Trustee in Bankruptcy or Bankruptcy Trustee) and Estate Managers believe everyone deserves a financial fresh start, while being treated with dignity and respect. We have offices conveniently located in Calgary, Edmonton, throughout Alberta, and across Canada.

To speak to someone now call us at 310-8888 for a free, no obligation, confidential consultation.

 

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Calgary
833 - 4 Ave SW, Suite 900
Calgary Alberta T2P 3T5
T 310-8888
3 other Calgary locations
13 Alberta locations

Edmonton
1701 Scotia Place Tower 2
10060 Jasper Avenue
Edmonton, Alberta T5J 3R8
T 310-8888
3 other Edmonton locations
13 Alberta locations

 

All locations
310-8888

© 2017 Grant Thornton Limited, Licensed Insolvency Trustees. All rights reserved.


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