What is a Credit Score?

A Credit Score is a statistically derived number that lenders use to indicate your credit worthiness. Your Credit Score will be listed on your Credit Bureau Report from Equifax and Transunion and be anywhere from 300 (Very Poor) to 900 (Very Good).

COVID-19 and Our Core Values

With the understanding of how many people are struggling financially during this pandemic, Consumer Credit Counselling has been able to remain open to help clients with their finances.

What is a Payday Loan?

A Payday Loan is a short-term cash lending solution. You can borrow up to $1,500 to help with short-term financial difficulties before you receive your upcoming pay cheque. In most cases, the payday lender will deposit money in your bank account or give you cash. How much will a Payday Loan cost? Payday loans come with high fees and a …

How do you pay off your debt fast?

“How do I pay off debt fast?” This is one of the most common questions we get from clients. The answer? You probably can’t. Debt takes a while to get rid of, and that is OK. Through responsible management and a conscious effort it can be eliminated but it can take months if not years to do so.

Will debt consolidation affect my credit score?

This is a very good question and one that we hear all the time. Debt Consolidation may increase your credit score, or it may lower it, depending on the status of your current financial situation and what option you use going forward.

Should I Re-Borrow On My Payday Loan?

You should avoid borrowing and re-borrowing with payday loans. Consider the following ways of borrowing money that are less expensive than a payday loan: cash advances on credit card, a line of credit or personal loan with your financial institution, going to your employer for a cash advance or to cash in vacation days. Is It Better To Get A …

How Much Debt Is Too Much?

Most Canadians are unaware of what constitutes too much debt, and to be fair there is not one simple answer. Most people will say that your level of debt should be equal to the risk that you are willing to carry. The more debt the higher the level of risk.