📅 Last Updated: October 4, 2021
✏️ Written By Lisa Rennie
🕵️ Fact-Checked by Caitlin Wood

Do you live in Fredericton? Is your current debt load proving to be far too much for you to handle? Do you feel as though you’re barely making any headway in paying down your debt despite your best efforts? If so, credit counselling might be the solution you’re looking for.

Credit counselling in Fredericton is a type of specialized service that is designed to help you deal with your debt and effectively reduce it. This will help to not only free up more money that you can put toward other expenditures, but it can also help you develop the skills needed to better manage your current debt as well as any future debt you may accumulate.

What is Credit Counselling in Fredericton?

Credit counselling provides debt education to consumers who are struggling to maintain and manage their debt. More specifically, credit counselling can help consumers budget their finances and provide them with the tools required to handle their debt loads.

Further, debt consolidation options may be made available to help consumers combine all of their debt – including high-interest debt – into a single payment with a lower interest rate. Not only does this help consumers save money, but it also helps to simplify debt management.

What is a Credit Counsellor in Fredericton?

A credit counsellor is a professional who has the training and experience needed to effectively deal with consumer debt. The end goal is to help consumers deal with their financial challenges and eliminate any troubles that may be experienced as a result of mounting debt.

Learn How to Tackle DebtWant to learn how to create a debt repayment plan? Click here.

Can Credit Counselling Help You in Fredericton?

If any of the following situations apply to you, then credit counselling in Fredericton may be a viable option:

  • You need help dealing with mounting debt
  • You’re considering consolidating your debt
  • You’re considering submitting a consumer proposal
  • You want to put a stop to collections calls
  • You need help managing your money better
  • You’re looking for tips to use credit more responsibly
  • You’re looking for a debt relief program

Look at this to discover a few helpful debt management tips.

Choosing the Right Credit Counsellor For You in Fredericton

Considering how many credit counsellors there are out there in Fredericton, how can you be sure you’re working with the right one? The truth is, not all credit counsellors are created equal. Some are better suited for specific consumers than others.

To choose the right credit counsellor, look at non-profit agencies to find one that holds a license and certificate in Fredericton. This is important as you want to ensure that the credit counsellor is capable of providing you with the services you’re looking for. Further, investigate whether there have been any complaints made against the counsellor or agency by previous clients.

Want to know how a credit counselling agency can help you? Find out here.

What Can You Expect From Credit Counselling in Fredericton?

A credit counsellor will consider your financial situation and all of the financial concerns that you may have. After gathering all pertinent information, they’ll help to come up with a sound strategy so you can better handle your credit issues.

While working with a credit counsellor may be helpful, it’s important to understand that some work and sacrifice on your part will be required. A credit counsellor will not be able to make your debt magically disappear. You should be aware that solutions to your debt issues will take some time to take effect.

Wondering how long your credit counselling may take? Read this for the answer.

Your credit counsellor is meant to provide you with the guidance needed to deal with your debt and credit problems effectively. Your responsibility is to put what you learn from your credit counsellor into practice.

How Does Credit Counselling in Fredericton Impact Your Credit Score?

Your credit score plays a crucial role in the health of your finances and your ability to secure credit and loans. If your credit score is too low, you may find securing the financing you need difficult.

Many people in Fredericton who are considering credit counselling may wonder how credit counselling can impact credit scores. Fortunately, seeking help from a credit counsellor in Fredericton won’t necessarily negatively impact your credit score.

However, it should be noted that specific actions that you take after working with a credit counsellor will be noted on your credit report.

For instance, if you choose to take advantage of debt consolidation, this will be marked on your credit report. In turn, your credit score will be affected based on the way that your creditors report any debt that’s involved in the debt consolidation program. If your creditors report an unsettled debt on your credit report – which means the entire amount wasn’t fully repaid – your credit score may suffer.

Canadian Credit ScoreInterested in more information about credit scores? Take a look at this infographic.

When is it Best to Use Credit Counselling in Fredericton?

Not every situation is necessarily well suited for credit counselling. Instead, it may be better to use credit counselling in any of the following situations:

  • You have significant financial issues
  • You can’t handle all the debt on the books
  • You’re looking to file a consumer proposal or bankruptcy

Seek the Professional Help From a Credit Counsellor in Fredericton Before it’s Too Late

If you’re drowning in debt, seek help before the situation becomes even worse. There are several options in Fredericton to help with mounting debt, but credit counselling is often the first step before more drastic measures need to be taken. You would be well-advised to speak with a credit counsellor in Fredericton to try to get a handle on your debt before resorting to other options that could have a detrimental effect on your credit.

With the help of a credit counsellor, you can figure out what’s going on and establish a sound strategy to rectify it. That way, you’ll be better able to deal with it in the future. More importantly, you’ll be able to avoid potential bankruptcy.

Look at this article to learn some methods of rebuilding your credit after a bankruptcy.

Get On Top of Your Debt

If you’re currently struggling to tackle your debt load and are interested in seeking professional help in Fredericton, Loans Canada can connect you with the right debt management product to meet your needs.

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