Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Consolidated Credit is a credit counselling agency that educates Canadians about debt relief and how to maintain a financially stable lifestyle. They have a resource center dedicated to providing Canadians with free educational information regarding debt relief, saving money, and other personal financial matters. If you’re currently struggling with debt, Consolidated Credit will guide you through their debt management program or connect you with a Licensed Insolvency Trustee if you need a more serious solution.
Since Consolidated Credit is a credit counselling agency, becoming one of their clients will involve a somewhat different process than applying for a credit card or personal loan. That said, you’ll still have to get in contact with one of their counsellors and have your case evaluated in order to get approved.
Don’t worry, because you won’t necessarily have to “qualify” like you would with a bank or other lender. All you have to do is tell them about your financial situation and, depending on what you’re looking for, your counsellor can recommend a number of solutions, including but not limited to:
Essentially, you’ll have to be open about your financial issues, especially if you’re trying to get rid of a large amount of high-interest debt. That said, you may simply want to gain some extra financial know-how or improve your personal finances in other ways, which Consolidated Credit can help you with.
One positive thing about Consolidated Credit is that your introductory consultation is free-of-charge and can be done over the phone. You’re under no obligation to sign up for any courses or purchase any of their services.
However, before you call, keep in mind that you may have to provide them with certain personal and financial information, such as your:
During your consultation, your credit counsellor might also inspect your credit report in an effort to pinpoint any errors, signs of identity theft, or other debt-related problems. Luckily, this would qualify as a soft inquiry and won’t negatively affect your credit score.
In addition, if you want to sign up for any of their services, be aware that they may ask for your credit card and/or banking information. Depending on which solution you choose, there will be several associated fees that you’ll have to consider.
Remember, at its core, Consolidated Credit is a non-profit credit counselling agency, so their main focus is to educate their clients and help them deal with certain financial problems. By visiting the Consolidated Credit website or calling their customer service today, you can gain access to the following programs:
As mentioned, the primary courses you’ll find at Consolidated Credit are it’s counselling sessions, where you would speak regularly with one of their experts and gradually receive the knowledge you need to better your finances and credit.
Although you’ll have to deal with a few monthly administrative fees, the overall length of your program will depend on what your situation and preferences are. Thankfully, these courses can be done over the phone, so you can access them anywhere in Canada.
If you’re dealing with a small to moderate amount of unpaid debt, Consolidated Credit may be able to walk you through one of these less drastic solutions:
If you’re dealing with a more serious amount of debt, you can speak with your counsellor about these legal solutions, both of which are effective for ending collection penalties and clearing your debt through several court-assigned payments:
Neither of these procedures can be administered without the help of a Licensed Insolvency Trustee, which is another expert that Consolidated Credit can set you up with. As always, it’s extremely important to consider the negative impact that either solution can have on your finances and credit score before you sign any papers.
Since they may not be affordable for you, be sure to ask Consolidated Credit about the various fees they charge before you decide on any of their services. After all, you might already be struggling with unmanageable debt.
All this said the overall cost of your counselling program or debt management solution will depend on various circumstances. For instance, a debt management program or bankruptcy can take several months, maybe even years to complete if your debt is large enough. The more time and effort required, the higher your fees could be.
On the other hand, a simple budgeting course may only last a few weeks and could, therefore, be affordable for the average consumer. To get a free quote, just visit the Consolidated Credit website, enter your debt amount and payment status, then follow the appropriate steps.
For more information about their debt relief procedures, don’t forget to speak with one of the counsellors at Consolidated Credit and ask them all the questions you need, including but not limited to the following:
Product Details | |
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Debt Management Program | If your credit counsellor decides that a debt management program is the best option for you, Consolidated Credit will enroll you into their program where your counsellor will guide you throughout the program. Your counsellor will be the mediator between you and your creditors, by negotiating a payment plan that will reduce your debt and still be affordable for you. This may be done by reducing interest, eliminating penalties, and increasing term of payment. |
Credit Counselling | Consolidated Credit offers advice and educational material on major debt solutions like debt consolidation, debt management programs, debt settlement, consumer proposals, and bankruptcy. Depending on your situation, your credit counsellor will help you understand which debt solution is best for you and why. |
Happy with the service I received at Consolidated Credit. The program they offered me really helped and I’m not worried about my debt constantly... read more
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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