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While people in Winnipeg and the rest of Manitoba have one of the lowest amounts of consumer debt in the country, their delinquency rates are sky-high. This means that a lot of people in Winnipeg are missing payments and defaulting on loans, which is why many in Winnipeg likely suffer from bad credit and other financial issues.
Unfortunately, having bad credit and black marks on your credit history can make it hard to borrow money and get out of the hole you dug yourself into. Thankfully, there are some debt relief services in Winnipeg that can help, and one of the most common is credit counselling.
Need some information about loans in Winnipeg? Try reading this.
What is Credit Counselling in Winnipeg?
Credit counselling is a service that aims to help improve your personal financial situation. Those who utilize credit counselling will work with a qualified expert in order to help with whatever financial issue they have. Some people in Winnipeg cannot budget effectively, some in Winnipeg struggle with bad credit, and many in Winnipeg need assistance getting rid of their debts. Whatever type of situation you find yourself in, credit counselling is a service that should be able to help you.
The credit counsellor themselves is educated and/or experienced in the space and should be able to help you come up with helpful strategies to better your situation. They will also be able to tell you if another debt relief solution is better for your specific needs.
Check out this infographic to learn how to create a debt repayment plan.
What to Expect From Credit Counselling in Winnipeg?
Now that a little bit is known about credit counselling and how it can help your financial situation, what should you expect from credit counselling in Winnipeg? Well, the process will begin with choosing a credit counsellor or counselling company to work with (more on that later).
Once you have selected a counsellor, you will meet with them and provide them with the necessary information about your financial situation, so they can have a better sense of what they’re dealing with. Then, you will collaborate with them on a plan that works best for you and can get your finances back on track as well.
While credit counselling can be an incredibly helpful service, you shouldn’t expect a miracle. The counsellors are there to help and guide you, but ultimately, it is up to you to implement the strategies and complete the necessary work.
So, you should expect:
- To have all questions and concerns answered
- To work with a professional and qualified counsellor
- To collaborate on a plan that works for everyone involved
- To be honest about everything and have an in-depth discussion about your finances.
Read this to know how you should handle your first credit counselling session.
Choosing the Right Credit Counsellor in Winnipeg
Now that you know what credit counselling is and what to expect from it, how do you go about choosing which credit counsellor to work within Winnipeg? Not all credit counsellors are equal, so you want to be sure to take your time to ensure you find the right one for you.
Trying to decide with debt management option is right for you? Look at this.
A great first place to look is to see if there are any non-profit agencies in Winnipeg, as they could provide you with great service without the high cost that some other counsellors might come with. However, whichever credit counsellor you go with, there are a few things you need to check. These include:
- Make sure that the credit counsellor is licensed and certified in the province you are located.
- Check out the online reviews of the counsellor to see if there are any complaints and how other people’s experience working with them has gone.
- Ensure their pricing is fair and they aren’t charging too much. While the price isn’t the only thing, you are clearly struggling financially and thus shouldn’t be paying more than you need to.
- Make sure you are comfortable with them. You will need to be very honest with this person and will be sharing a lot of information, so you want to make sure that is something that you are comfortable doing.
Still not sure if you need credit counselling? Here’s how you can tell.
Looking For Professional Debt Help in Winnipeg
If you’re currently dealing with debt problems and are interested in seeking professional help, Loans Canada can help match you with the right solution!