The Family Counselling Centre of Brant is the only not-for-profit credit counseling agency in Brantford that offers one-on-one, face-to-face meetings with people experiencing financial problems. Michelle and her team can help people learn to budget, and they can negotiate payment arrangements with your creditors, called a debt management plan.
She e-mailed me today to remind me that today is the launch of the first annual Credit Education Week, which runs from November 13 to November 16. During the launch, the results of a national consumer survey of more than 4,000 Canadians were released, and the survey showed that the majority of Canadians do not have a sufficient understanding of basic personal finance and credit.
Michelle and I have discussed credit problems many times over the years, so neither one of us was surprised that the survey found that 92% of the survey respondents feel that Canadians have more debt than they did five years ago, however only 7% perceive that it makes sense to carry a larger amount of debt now as compared to 5 years ago. Full results of the survey can be found at crediteducationweekcanada.com.
If you are carrying more debt than you can handle, you should take action now, before your problems get even worse. As described in our article on credit counselling in Brantford, one option is a debt management plan that typically involves your creditors agreeing to a reduced or zero interest rate, provided you repay them in full over no more than a five year period. Michelle and her team at the Family Counselling Centre of Brant would be happy to explain the process.
If you have more debt than you can repay over a five year period, then a consumer proposal or a bankruptcy may be another option.
Whether it's a debt management plan, consumer proposal, or bankruptcy, help is available, and the sooner you get help, the sooner you can get your financial life back on track. For more information on credit counseling or debt management plans, contact Family Counselling Centre of Brant in Brantford at (519) 753-4173. For information on consumer proposals or bankruptcy, please call me at the Hoyes Michalos office in Brantford at (519) 770-4440.
Labels: bankruptcy Brantford, consumer proposal Brantford, credit counselling Brantford
posted by J. Douglas Hoyes, CA, Trustee @ 1:44 PM
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