Credit Counselling Hamilton

Compare and Save With Loans Canada

Written by Bryan Daly

Best Credit Counselling Hamilton (Online) September 2021

Lender directory

Compare the providers in this region

Renovation Financing

RenFi Home Loans

Renfi Capital is a lender that specializes in home renovation loans. It is the fastest mortgage lender in Ontario. They offer loans ranging from $25,000 to $150,000, with interest only payments at the low rate of 1% per month. Renfi works with a much wider range of credit types than conventional lenders.

Their platform is entirely online, making it easy, fast and secure.

  • $25,000 - $150,000 loans
  • Low credit scores accepted
  • Low rate of 1% a month
  • Open loan
Easy
Apply in 3 minutes, fully online process
Fast
15 minute approval, 72 hour funding
Secure
256 bit, end to end encryption
SPONSORED
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
Afterpay
Varies 0% 6 or 8 weeks
Varies
Ganaraska Financial Credit Union
Up to $25,000 (unsecured) 3.99% and up Up to 84
Up to $25,000 (unsecured)
Spring Financial
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Helium Loans
$500 - $50,000 6.99% - 46.99% 12 - 36
$500 - $50,000
LM Financial
$1,000 - $15,000 - -
$1,000 - $15,000
LM Credit
$500 – $15,000 + 25.99% 9 - 60
$500 – $15,000
FlexiLoans
$200 - $1,200 25% - 32%  -
$200 - $1,200
Prudent Financial Services
Up to $500,000 5.75% – 9.9% negotiable
Up to $500,000
Lendle
up to $2,000 0% -
up to $2,000
PayBright
- 0+ 2 - 60
-
Moves Financial
$2,500 15.65% AIR 13 - 26
$2,500
Score-Up
- - -
-
LendCare
- - Up to 60
-
X-bankers
$5,000+ - Up to 60
$5,000+
ECN Capital
- - -
-
SimplyBorrowed
$500 - $5,000 - 12 - 24
$500 - $5,000
Pebble Cash
$350 - $1,000 - 2 - 12 weeks
$350 - $1,000
Refresh Financial
$1,600 - $25,000 9.47% - 20.07% APR 36 - 60
$1,600 - $25,000
goPeer
$1,000 - $25,000 7.5% - 31.5% APR 36 - 60
$1,000 - $25,000
North’n Loans
$100 - $1,500 - -
$100 - $1,500
MDG
Up to $3,200 - -
Up to $3,200
Loan or Credit
$100 - $25,000 +4.9% -
$100 - $25,000
Instant Payday Canada
- 15% - 19% -
-
Flexiti Financial
- Up to 35% -
-
Financeit
$500 - $100,000  6.99% - 14.99% 12 - 240
$500 - $100,000
Climb
1800- 2900  15.99% 23 - 36
1800- 2900
Pylo Finance
$500 - $15,000 15.99 - 39.99% 6 - 60
$500 - $15,000
Fresh Start Finance
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Marble
Up to $20,000 18.99% - 24.99% 36 - 84
Up to $20,000
Money Mart
$1,000 - $15,000 19.90% - 46.90% 12 - 60 
$1,000 - $15,000
Payday King
$100 - $1,000 546% APR 14 days
$100 - $1,000
Private Loan Shop
$500 - $50,000 15 - 30% -
$500 - $50,000
Progressa
$1,000 - $15,000 19% - 46.95% 6 - 60 
$1,000 - $15,000
My Canada Payday
Up to $1,500 15% - 19% 14 days
Up to $1,500
Mr. Payday
$100 - $1,500 15% - 17% 14 -31 days
$100 - $1,500
Money Provider
$500 - $1,000 28% - 32% -
$500 - $1,000
Loan Express
- - 14 days
-
Meridian Credit Union
Up to $35,000 5.15%+ -
Up to $35,000
Loan Away
Up to $5,000 19.9% - 45.9% APR 6 - 36
Up to $5,000
Loan & Go
$250 -$1,250 29% 3 - 6
$250 -$1,250
Lendful
$5,000 - $35,000 9.9%+  6 - 60
$5,000 - $35,000
LendDirect
Up to $15,000 19.99% APR Open-end
Up to $15,000
Health Smart Financial Services
$300 - $25,000 7.95%+ 36 - 60
$300 - $25,000
GoDay
$100 - $1,500 - 14 days
$100 - $1,500
iCash
Up to $1,500 15% - 23% -
Up to $1,500
Focus Financial Inc.
Up to $1,500 Up to 59% APR 14 days
Up to $1,500
FlexFi
$2,500 + - -
$2,500 +
Eastern Loans
$500 - $1,000 28% - 32%  3 -5
$500 - $1,000
DMO Credit
$300 - $1,000 38% APR 3 - 4
$300 - $1,000
Capital Cash
$100 - $1,000 546% APR 14 days
$100 - $1,000
Cash 4 You
$1,000 -$15,000 46.93%  12 - 60
$1,000 -$15,000
Credit 700
$500 - $1,000 28% - 32%  4 - 5
$500 - $1,000
Credit Club
$100 - $1,500 90% - 390% APR 14 days
$100 - $1,500
Credit2Go
$250 - $1,000 29% APR 3 - 4
$250 - $1,000
Ledn
$500 - $1,000,000 12% 12
$500 - $1,000,000
Amber Financial
$1,000 - $50,000 4.6% – 49.96% 3 - 60 
$1,000 - $50,000
Affirm Financial
$300 - $7,500 29.9% - 39.9% 6 - 60
$300 - $7,500
310 Loan
$50 - $1,500 - 14 days
$50 - $1,500
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
Ferratum
$2,000 - $10,000 18.9% - 54.9% 12 - 60
$2,000 - $10,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Fast Access Financial
$500 – $10,000 Starting at 9.90% 12 - 36
$500 – $10,000
Fairstone Financial
Up to $50,000 19.99% - 39.99% 6 - 120 Months
Up to $50,000
LendingMate
$2,000 – $10,000 34.9% – 43% 12 - 60
$2,000 – $10,000
Consumer Capital Canada
$500 - $12,500 19.99%+ 12 - 60
$500 - $12,500
Lamina
Up to $1000 30% 3 - 5
Up to $1000
Loans SOS
Up to $5,000 60% 6 - 60
Up to $5,000
514 Loans
Up to $3,000 22% - 35% 3 - 4
Up to $3,000
Cashco Financial
Up to $7,000 - 6 – 60
Up to $7,000
UrLoan
$500 - $2,500 29% - 46.95% 6 - 36
$500 - $2,500
LoanMeNow
$500 - $1000+ 28%-32% 3
$500 - $1000+
Captain Cash
$500 – $750 28% – 34.4% 3
$500 – $750
BC Loans
$500 – $750 23% - 34.4% 3 – 12
$500 – $750
Urgent Loans
$300 - $1500 27% - 35% 3 - 4
$300 - $1500
easyfinancial
$500 - $35,000 29.99% – 46.96% 9 - 60
$500 - $35,000
Mogo Finance
$300 – $35,000 5.9% to 47.72% 24 - 60
$300 – $35,000
CashMoney
$50 – $10,000 - Up to 62 days
$50 – $10,000
Borrowell
$1,000 - $35,000 5.99% to 29.19% 36 - 60
$1,000 - $35,000
Magical Credit
Up to $20,000 19.99% - 46.8% 6 - 60
Up to $20,000
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
TD Bank
- - 12 - 60
-
Accord Financial
$5,000 - $30,000,000 - Up to 18
$5,000 - $30,000,000
Helium Loans
$500 - $50,000 6.99% - 46.99% 6 - 36
$500 - $50,000
Accelerated Payments
- - -
-
Loop
- - -
-
Core Capital Group Inc
- - -
-
BarterPay
- 0.9% - 12% 6 months - 5 years
-
Clearbanc
$10,000 - $10,000,000 6% - 12.5% -
$10,000 - $10,000,000
SNAP Financial Group
- - -
-
GE Capital
- - -
-
We Can Financial
- - -
-
Wajax Equipment
- - -
-
Key Equipment Financing
- - -
-
Corl
$10,000 - $1,000,000 - -
$10,000 - $1,000,000
Yellowhead Equipment Finance Ltd
- - -
-
Toronto Truck Loan Ltd
- - -
-
Specialty Truck Financing
- - -
-
Travelers Financial
- - -
-
Peel Financial
- - -
-
Pioneer Financial Services
$5,000 - $1,000,000 - -
$5,000 - $1,000,000
Polaris Leasing
- - -
-
Patron West
- - -
-
Payability
up to $250,000 - -
up to $250,000
Planet Financial
- - -
-
Rise
Up to $10,000 - -
Up to $10,000
Merchant Growth
$5,000 - $500,000 - 6 - 18 months
$5,000 - $500,000
Onesta
- - -
-
Lionhart Capital
$10,000- $30,000,000 Min 4.95% -
$10,000- $30,000,000
Lift Capital
- - 12 - 120
-
Leaseline
- - 24 to 60
-
Lease Direct
- - -
-
John Deere
- - -
-
Hitachi Capital Canada
- - -
-
Guardian Leasing
- - -
-
Export Development Canada
- - -
-
Essex Lease Financial Corporation
- - -
-
Equilease
- - -
-
Alliance Financing Group LTD
$5,000 - $150,000 15% + 6 - 24
$5,000 - $150,000
CanaCap
Up to $250,000 - -
Up to $250,000
CLE Capital
- - -
-
Canada Equipment Loan
- - -
-
SharpShooter Funding
$5,000 - $150,000 Fee-Based: Starting at 9% 12 - 60
$5,000 - $150,000
First West Credit Union
$500,000 - $10,000,000 - -
$500,000 - $10,000,000
PACE Credit Union
- Competitive -
-
Meridian Credit Union
Up to $35,000 - -
Up to $35,000
DUCA Credit Union
- - -
-
Laurentian Bank of Canada
Up to $250,000 - Up to 10 years
Up to $250,000
HSBC Bank Canada
- - -
-
National Bank
Up to $1,000,000 - -
Up to $1,000,000
Desjardins
Up to $100,000 - -
Up to $100,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - Up to 15 years
$10,000+
Scotiabank
Up to $1,000,000 -   Up to 15 years
Up to $1,000,000
Bank of Montreal (BMO)
Up to $500,000 - Up to 10 years
Up to $500,000
Royal Bank of Canada (RBC)
$5,000 - $10,000 - Up to 7 years
$5,000 - $10,000
CWB National Leasing
$3,500+ - -
$3,500+
Money Line Capital
$5,000+ 4.9% - 24.99% 18 - 48
$5,000+
Money in Motion
$10,000 - $1,000,000 4% - 14% 12 - 84
$10,000 - $1,000,000
Lease Link
Up to $75,000 - Up to 18
Up to $75,000
FundThrough
$500-$50,000 0.5% weekly 12 week cycles
$500-$50,000
Econolease Financial Services Inc.
$1,000 - $1,000,000 6% - 20% -
$1,000 - $1,000,000
Easylease Corp
Up to $5,000,000 4.5% 24 - 72
Up to $5,000,000
Capify
$5,000 - $200,000 - -
$5,000 - $200,000
Canadian Equipment Finance
$50,000 - $12,000,000 - 24 - 96
$50,000 - $12,000,000
Capital Key
$5,000 - $1,000,000+ - 1 - 60
$5,000 - $1,000,000+
Cashbloom
$5,000 - $1,000,000 - 3 - 24
$5,000 - $1,000,000
BFS Capital
$5,000 - $5,000,000 - 4 - 18
$5,000 - $5,000,000
BDC
Up to $100,000 6.05% + 60
Up to $100,000
Baron Finance
$10,000+ 18% - 22% -
$10,000+
B2B Bank
$10,000 - $300,000 4.70% - 5.45% -
$10,000 - $300,000
AOne Financial Solutions
Up to $5,000,000 5% - 10% 12 - 60
Up to $5,000,000
Borrowell
$1,000 - $35,000 5.6% – 25.5% 36 – 60
$1,000 - $35,000
iCapital
$5,000 - $250,000 - 3-18
$5,000 - $250,000
Lendified
$5,000 - $150,000 - 3 - 24
$5,000 - $150,000
IOU Financial
$5,000 – $100,000 15% + 12 – 18
$5,000 – $100,000
Company Capital
$5,000 – $100,000 Starting at 6.87% 3 – 18
$5,000 – $100,000
OnDeck
$5,000-$250,000 8% - 29% APR 6 - 18
$5,000-$250,000
Lending Loop
$5,000 – $500,000 Starting at 5.9% 3 – 60
$5,000 – $500,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Thinking Capital
Up to $300,000 - -
Up to $300,000
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
Auto Credit Deals
Up to $50,000 29.99% – 46.96% 12 - 96
Up to $50,000
Advantagewon
- - -
-
Helium Loans
$500 - $50,000 - 24 - 60
$500 - $50,000
Go To Loans
$500 - $10,000 + 29.95% up to 48
$500 - $10,000
Alphera Financial Services
- - -
-
Go Auto
- - 12 - 96
-
Eden Park
- 11.9% - 22.9% Up to 84
-
Auto Loan Solutions
- 0% - 29.5% -
-
WeFinanceCars
- + 4.9% -
-
Walker Financial Services
- - -
-
Rifco
- - -
-
National Powersports Financing
- - -
-
LMG Finance
- - -
-
Loans2Go
- - -
-
Leisure Trailer Sales
- - -
-
iA Auto Finance
- +8.99% -
-
Gamache Group
- - -
-
Royal Bank of Canada (RBC)
$5,000 - $10,000 - up to 84
$5,000 - $10,000
Laurentian Bank of Canada
Up to $250,000 - 12 - 60
Up to $250,000
National Bank
Up to $1,000,000 - up to 96
Up to $1,000,000
Desjardins
Up to $100,000 - 6 - 96
Up to $100,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - 12 - 96
$10,000+
Scotiabank
Up to $1,000,000 - up to 96
Up to $1,000,000
Daimler Truck Financial
- - up to 72
-
DealerPlan Financial
- - -
-
Coast Capital Savings
- Starting at 4% Up to 84
-
Canada Auto Finance
$5000 - $45,000 4.90 % - 29.95% APR 36 - 72 
$5000 - $45,000
Credit River Capital Inc
- - -
-
Capital Trust Financial
- - -
-
Canada Car Loans
- - -
-
Car Loans Canada
$7500 - $59,995 3.95% + 12 - 96
$7500 - $59,995
Car Creditex
- Up to 49.9% -
-
Auto Capital Canada
- - -
-
Carfinco
- - Up to 84
-
Canada Drives
Up to $100,000 3.99% - 19.9% 24 -96
Up to $100,000
Prefera Finance
Up to $30,000 - -
Up to $30,000
Prudent Financial Services
Up to $500,000 5.75% – 9.9% negotiable
Up to $500,000
Dixie Auto Loans
- - -
-
Approve Canada
- - -
-
2nd Chance Automotive
- 4.2%+ -
-
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Splash Auto Finance by Rifco
Up to $50,000 - -
Up to $50,000
Carloans411
$5,000 – $40,000 - 12 – 72
$5,000 – $40,000
AutoArriba
- - Maximum 84
-
Provider Loan Amount Rate Term (Months) Rating
Up to $50,000 2.00% – 46.96% 3-60 months
N/A (Referrer)
Up to $50,000
Instant Loans Canada
$1,000 - $35,000 - 24 - 60
$1,000 - $35,000
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
Fast Access Financial
$500 – $10,000 Starting at 9.90% 12 - 36
$500 – $10,000
BHM Financial
Up to $25,000 - 12 - 60
Up to $25,000
Provider Loan Amount Rate Term (Months) Rating
$25,000 - $150,000 1% monthly 12
$25,000 - $150,000
N/A N/A N/A
N/A (Referrer)
N/A
Peoples Bank
- 1.94% - 2.45% 12 - 60
-
Spring Financial
Up to $15,000 - -
Up to $15,000
Prudent Financial Services
Up to $500,000 5.75% – 9.9% negotiable
Up to $500,000
Mogo Finance
$300 – $35,000 2.20% - 2.54% 36 - 60
$300 – $35,000
Mortgage Alliance
- 2.74% - 6.30% 12 - 120
-
Paradigm
- - -
-
Verico
- - -
-
True North Mortgage
- 2.64% - 4.45% 12 - 120
-
Tangerine
$50,000+ 2.74% - 3.49% 12- 120
$50,000+
Think Financial
- - 36 - 60
-
Turnedaway
- - -
-
REICO
- - -
-
Motusbank
- 2.79% - 6.00%  6 - 60 
-
Northwood Mortgage
- 2.74% - 4.45% 12 - 120
-
Matrix Mortgage Global
- - -
-
Mortgage Architects
- 2.74% - 3.70% 6 - 120
-
Finser Mortgages
- 2.79% - 4.45% -
-
IntelliMortgage
- - -
-
Invis
- 2.69% - 3.95% 6 - 120 
-
Manzil
up to 4,000,000 3.49% - 5.49% 12 - 300
up to 4,000,000
Equitable Bank
$25,000 - $800,000 4.59% - 5.64% 6 - 60
$25,000 - $800,000
Dominion Lending Center
- - -
-
Fisgard Asset Management
- -- -
-
First National Financial LP
- 2.84% - 7.30% -
-
CMLS Financials
$100,000 - $750,000 - 12 - 120
$100,000 - $750,000
CHIP Reverse Mortgage
min 25,000 3.89.% - 4.84% 12 - 60
min 25,000
CanWise
- 2.23% - 4.45% -
-
Centum
- 2.89% - 3.79% -
-
Capital Direct
$10,000 - $1,500,000 Varies 12 - 24
$10,000 - $1,500,000
Broker Financial Group Inc.
- 2.41% - 3.84% -
-
Bridgewater Bank
- - -
-
Alpine Credits
- - -
-
Provider Services Rating
Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation
N/A (Referrer)
Debt Consolidation Program, Debt Settlem...
BDO
Credit Counselling, Bankruptcy, Consumer Proposal
Credit Counselling, Bankruptcy, Consumer...
Raymond Chabot
Bankruptcy, Consumer Proposal
Bankruptcy, Consumer Proposal...
Full Circle Debt Solutions Inc
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
Consolidated Credit
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
4Pillars
Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring
Debt Restructuring, After Care - Credit ...

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.

Even if you’re a good saver with a steady job and a decent income, it’s still possible that you’ll experience some kind of financial turmoil throughout your lifetime, particularly if you live in an urban area, like Hamilton. Since being subject to a relatively high cost of living can add a lot of debt on your plate, it’s best to seek help before the going gets too tough. 

This is where Credit counselling in Hamilton can help. A professional service that can help any resident regain control of their finances and achieve their goals. Keep reading to learn even more about why credit counselling could be the right choice for you. 

How to tell if credit counselling is the right option for you? Check this out

What Credit Counselling Can Do For You

Although credit counselling isn’t something that everyone needs, it’s certainly available to anyone that wishes to give it a try. 

After all, a good credit counsellor can: 

  • Give you lessons about budgeting and wealth management 
  • Help you avoid and recover from various financial emergencies
  • Teach you how to improve your credit score and credit report
  • Negotiate with creditors and collection agencies on your behalf 
  • Connect you with a product or procedure that helps reduce high-interest debt, such as a:
      • Debt consolidation program
      • Debt consolidation loan
      • Debt settlement
      • Consumer proposal
      • Bankruptcy 

With all this in mind, it’s essential to understand that credit counsellors are not miracle workers and cannot simply make your financial problems evaporate. You will need to put forth most of the effort in order to see positive results during the process. If you are prepared to do that, credit counselling may well be your best option.

Learn How to Tackle DebtStruggling with debt? This infographic can help you create a repayment plan. 

How to Find the Right Credit Counselling Service

In Hamilton, there are sure to be a few good credit counsellors or counselling agencies that will happily take you on as a client. That said, not all of these services are the same, so before you sign up, it’s important to research to confirm that the organization is reputable and has your best interests in mind.

Be Wary of Possible Service Charges 

For instance, while many credit counselling services are non-profit, others may charge you some service-related fees once they’ve helped you or you’ve entered one of their programs. Though this is not necessarily a problem, you should still budget for these fees appropriately. 

Nevertheless, no matter who your counsellor ends up being, a basic consultation should be free, so make sure to avoid them if they seem to charge unreasonable fees for otherwise unhelpful advice, products or programs.

Confidentiality is Key

A professional credit counsellor should always be discreet with any information you disclose to them and never judge you based on your financial problems. They should not share your personal profile with anyone outside of the agency, unless you’re involved with some kind of legal procedure, such as a bankruptcy. 

Even if they happen to be a for-profit organization, a legitimate counselling service should not demand your credit card number or access to your bank accounts, at least not until they’ve properly helped you. If all they seem interested in is how you plan to pay them, it’s another surefire sign that you should stay away. 

What should you expect from your first credit counselling session? Find out here.

Make Sure They Are a Valid Business

As a professional business, a credit counsellor or agency should also be ready to display a valid license to operate in Ontario, as well as other credentials that prove their legitimacy. While some counsellors/agencies offer online services, they must also have a physical address that you can visit and, if necessary, report to the authorities.  

During your research, look at customer reviews and complaints, check to see that they are listed with the Better Business Bureau and are known to have a reasonable rate of success. In other words, the more well known they are and the more of a positive reputation they have, the safer it will be to sign up with them.

Watch Out For Scams 

Unfortunately, the idea of credit counselling is one that can attract a lot of scammers, fraudsters and identity thieves, being that a large portion of the potential clients are in need of financial help. Desperation can cloud your judgement can cause you to make rash decisions, so remember to take some time and think about who you may be giving your personal/financial information to. 

That said, if you stay patient, proceed cautiously, and keep an eye out for the warning signs mentioned above, you should have no problem avoiding a scam and finding a legitimate credit counselling service to help with your situation.

How Does Bad Credit Affect Daily Life?
Interested in how bad credit can affect your daily life? Learn more here

The (Possible) Impact on Your Credit

Another thing you should watch out for when it comes to credit counselling in Hamilton is the impact that this service may have on your credit. This notion can be a tad confusing, since any lessons or advice receive won’t affect your credit at all. 

However, many of the products and debt solutions that a counsellor can connect you with could have either a positive or negative impact on your credit health. 

Example: Debt Consolidation Program

To get a better idea of what we mean, let’s use one of the simplest, least impactful solutions a credit counsellor can help you enter; a debt consolidation program (for more information about this program, click here). In this case, the counsellor would reach out to your creditors and negotiate a deal that, when approved, allows you to repay your outstanding debts through monthly installments.

The Effect

While this can drastically reduce the amount of interest you’re paying overall and should end any further debt collection penalties that you’ve been subjected to, it will also leave a black mark on your credit history. On top of that, any related credit accounts will be assigned the third worst credit rating of R7 (Do you know the difference between your credit rating and score? Find out here). This whole negative effect can last for several years, even after you’ve finished the program. 

During that period, if your were to apply for a new loan, your potential creditor may examine your credit report, see these red flags, assume that you will not be responsible with your upcoming debt payments, and reject your application. If you are approved, it will only be for a small loan with a high interest rate and an unadjustable payment plan.  

What’s more, this would lead to hard inquiry being added to your credit history, which will decrease your credit score by a few points. This will, of course, be more of a problem when you have bad credit and are therefore more prone to getting your applications denied all over town.  

Stay Positive

Even with all this new information on the table, it’s important to maintain a positive attitude when it comes to choosing credit counselling in Hamilton. Despite the negative impact that such programs can have on your credit, there is a silver lining.

For instance, although that same debt consolidation program would tarnish certain parts of your credit report, any assigned payments you complete will elevate your credit score over time. If you keep up this responsible behavior, eventually your debt consolidation program will no longer be visible on your credit report. The situation will then reverse itself until your creditworthiness is back to a healthy status.

Canadian Credit ScoreTake a look at this infographic to learn about what else affects your credit score. 

When to Seek Professional Help

While credit counselling is a service that anyone can access in Hamilton, it’s definitely more essential if you’re currently experiencing problems with money management, ongoing debts, collection harassment, or worse. Essentially, whenever the option is available, it’s best to seek professional aid before it’s too late.

Credit counselling might be your best alternative when:

  • You have trouble saving your money or creating a realistic budget
  • You’re a recent victim of a scam, fraud, or identity theft
  • You’re trying to deal with or recover from a financial emergency
  • Your credit is getting worse every day due to unpaid debts
  • Creditors and collection agencies will not leave you alone
  • You cannot manage your outstanding debts by more conventional means (i.e. credit cards, traditional loans, borrowing, etc.) 
  • Your debts are so serious that you’re now considering filing for a consumer proposal or bankruptcy

Don’t Wait, Try Credit Counselling Today

Whether you’re having trouble managing your debts or would just like some financial advice, Loans Canada offers a wide variety of products and services that can help anyone in Hamilton get back on track.

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