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Credit Counselling Calgary
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Written by Kale Havervold
Best Credit Counselling Calgary (Online) September 2021
Note: Loans Canada does not arrange or underwrite mortgages or any other financial service. We are a simple referral website that provides free educational resources to help Canadians make better decisions.
While Calgary is one of the cities in Canada where its residents make the most money, it’s also one of the cities with the highest rate of financial delinquency. This means that people in Calgary are often struggling to make payments on their debts. Missing enough payments will soon begin to negatively impact your credit and hurt your ability to save money.
Thankfully, there are a few different things you can do in Calgary to improve your bad credit while gaining some extra financial knowledge, one of the most popular being credit counselling.
Wondering how bad credit can affect your daily life? Check out this infographic.
What is Credit Counselling and What to Expect?
Credit counselling is when an individual meets with a credit counsellor in order to help improve their financial situation. Credit counselling can cover a wide range of issues such as helping people with their budget, assisting individuals in getting out of debt, and helping people with credit improvement. No matter what sort of financial problem you are experiencing, there is a good chance credit counselling can help.
Now you know a little about what credit counselling is, what should you expect from it?
- That you will have a professional and educated counsellor from Calgary who will have your best interest in mind and listen to all of your concerns.
- To have an in-depth discussion, in which both you and the counsellor are as honest as possible.
- To come up with a suitable plan of action to get you out of debt, raise your credit or deal with whatever financial problem you might be experiencing.
- Don’t go into it expecting your finances to be miraculously improved, as that will not happen. Your counsellor can be a guide and can help you or answer questions, but ultimately it is you who needs to put in the work.
The process of credit counselling is quite simple. it involves meeting with a counsellor in Calgary, speaking about your financial problems, and working with them to create a plan of action, and finally executing their advice to become better with your finances.
Looking for some debt management tips? Try reading this.
How to Choose the Right Credit Counsellor in Calgary?
Depending on where you live, there is a good chance that there will be a number of different credit counselling agencies in your area. If you are in a larger city like Calgary, you will have a ton of different choices. So, with countless potential options at your disposal, how do you choose which one to go with?
Not every credit counsellor or credit counselling agency in Calgary is created equally, here are some things to look out for:
- Make sure they are licensed in the province in which they operate in
- Check out their website or search for them on Google to make sure there are no serious complaints or claims
- See if they are for-profit or non-profit. Generally, non-profits are a better option to go with
- Make sure the counsellor you work with is certified and is someone you feel very comfortable working with.
Take a look at this infographic for a detailed breakdown of how credit scores are calculated.
Will Credit Counselling Affect My Credit?
If your credit is already bad and you are looking to improve it, it’s logical to question whether working with a credit counsellor will negatively affect your credit. The good news is, the answer is no. You will be able to get advice and work with a credit counsellor as much as you want without your credit taking a hit or any black marks appearing on your credit report.
However, if you enter into a debt consolidation program through your credit counsellor, things can get a little bit more confusing. This will show up on your credit report and depending on how the debt is reported, it may or may not be bad for your credit. If your original creditor reports the debt is paid off, there shouldn’t be any negative effect to your credit. However, if they report the debt as settled (as in you didn’t pay back the full amount), you will see your credit take a hit.
Click here if you need a bad credit loan in Calgary.
Helping You Find the Best Credit Counsellor in Calgary
If you think credit counselling could be the right choice for you, or if you’re interested in knowing more about your debt relief options, Loans Canada can help!