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Our Debt Consolidation Process

This is not a loan.  No credit check required. No need to own property and no need for a co-signer!

Click, print and fax to the credit bureaus to receive your Free Credit Bureau File. There are 2 main credit bureaus in Canada Equifax and TransUnion they both have a file on you, so be sure to send the completed form to both companies.

Can you help me to get a secured credit card while I am on the program?

Yes, we can.

Can you stop legal action and phone calls?

Yes! In the majority of cases we are able to work with creditors towards a positive solution that will satisfy everyone, and hopefully stop any legal action. The majority of phone calls from Debt Collectors cease as long as clients maintain their payment arrangements.

Do I get to keep my credit cards?

You are asked to turn in your credit cards if you decide to enroll in the Debt Repayment Program. You may reapply upon completion of your program.

Do I have to live in Canada?

No, we have clients from all over the world. However, you must have Canadian Debt in order for us to assist you.

Do we have to continue to work with our creditors?

We ask you to respond to them in a positive way. Let them know you are using our Credit Counselling services and give them the information they request. However, it is important that you do not make any additional payment arrangements that conflict with your Debt Management Program. Call us, or have the creditor call us if there is a request for additional money. We need to know. We are here to help you.

Do you lend money?

No, our Debt Repayment Program is not a loan; we consolidate Debt without the need to borrow more money. Sounds good, doesn’t it!

How do I get started with an effective plan for my financial situation?

There are 3 steps to the Debt Consolidation process:

Fill out the Five Minute Interview.  Get your Plan of Actions now.

Click submit on the forms or Fax or Mail to our offices.

We will contact you with a plan to get you started on your way to financial control!

How do you determine the amount paid to each creditor?

That is determined by the total amount of your debt, your income, and your living expenses.

How much does your service cost?

Our initial financial evaluation of your current situation is always provided free of charge. Debt Repayment Program administration fees are based on a sliding scale, the complexity of your case, and your ability to repay. Our fees will be detailed to you once we have completed your financial evaluation and you have decided that our program is right for you. In most cases, our fees are more than offset by interest rate concessions we negotiate with your creditors. When you successfully complete your program our service may not have cost you anything! In fact, our program can save you money and avoid bankruptcy allowing you to keep your assets.

I want to get a loan instead. Is that a good option?

If you have a good credit rating that may be a solution. However, borrowing money to pay money is not going to help you to Get out of Debt. Our experience has taught us that most financial institutions today will not give consolidation loans unless you have security, like a home, other assets or heaven forbid a co-signer. Then if you were not able to make the payments the creditor could take away your home, your assets or go after your co-signer. You could lose the few precious things that you do have.

Is this service confidential?

Absolutely! All applications are 100% confidential.

What if a creditor does not agree to a Debt Management Program?

We try to work out an agreement that will satisfy the creditor and the client, and the orderly repayment and reduction of the debt.

What if a debt collector calls what should I do?

Tell the Debt Collector that you are a Registered client of Solutions™ Credit Counselling Service Inc. and refer them to our office. We are happy to take those calls on your behalf.

What if I need to file for bankruptcy, can you help me?

Absolutely! Yes, we can. We will help you with a direct referral to a Licensed Insolvency Trustee (L.I.T.).

What types of debts can be included?

At Solutions Credit Counselling we work with unsecured Canadian debt. That means credit cards, medical bills, lines of credit, bank loans, student loans, short falls on mortgages, fitness clubs, collection agencies, and YES – we work with Payroll loan companies.

Will my creditors know I have sought assistance from you?

If a creditor calls us to verify you have contacted us we will assume it is because you have told them to do so, or because the creditor has referred you to us. We will then verify the date you contacted us and the status of your application.

Will my employer know I have asked for your help?

We do not notify your employer that you are working with us.

Will this affect my credit rating?

Yes. Our goal is to help you solve your financial problems. It is up to the individual creditor how your account is reported to the credit bureau. In the short term your credit rating will reflect that you are not current with your accounts. However, remember that our Debt Management Programs are NOT bankruptcy. Think about your financial future at the end of this program you will be Debt Free, so all of the money that you were paying to debts can now go into the bank for your benefit. You will be able to provide for your family using cash and making use of credit only if you wish to.

Will you stop interest from being charged on my accounts?

The majority of creditors want to work with you and do stop interest while you are on a Debt Repayment Program. However, there may be a few creditors that do not.

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