Get help to create a plan, deal with your debts, and get back on track. Appointments are free, confidential, and non-judgmental. We’re a non-profit service, and we can help.

Consumer credit counselling is a service that can help you get out of debt. The process starts with a free credit counselling session that helps you identify the best debt solution for your needs, credit, and budget. If you need help getting out of debt, the counsellor can help you enroll in a debt management plan.

To learn more about the process visit: https://www.debt.ca/credit-counselling/how-does-consumer-credit-counselling-work

Lower all your monthly installments and pay what you can afford after covering all your living expenses.

Manraj Waraich provides important credit council to vulnerable Albertans who find it difficult to manage their finances and are often victims of financial exploitation. Topics covered include:
• How to avoid building unmanageable debt loads due to cell phone contracts, credit cards, pay day loans, etc.
• Managing debts on a low or fixed income
• Budgeting on a low income to ensure necessary bills are paid before luxury spending

Credit counselling should be about personal contact. At CCSAC, a credit counsellor will be with you every step of the way on your journey to financial freedom.

Visit our website at www.solveyourdebts.com

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Are you looking for debt solutions? Are you disorganized? Do you have trouble paying your bills? There is help. Youre not alone in this. We are a Canadian non-profit service, and we can help.

When a consumer (client) realizes that he/she is over indebted and that some arrangements have to be made to make sure all monthly repayments are met.
The consumer contacts a registered Debt Counselor who supplies a regulated form 16 and assists with the completion thereof. As soon as this form is completed the consumer will have formally applied for debt review in terms of the Act.
All requested documentation as on the application form is supplied by the consumer within 5 days of signing the form 16.
With the information and supporting documents supplied by the consumer the debt counselor now informs all the known creditors of the consumer that the said consumer has applied for debt review. This is done with the regulated form 17.1 as well as 17.2
A formal analysis is done by the Debt counselor to determine if the consumer is indeed over indebted. This is a very simple calculation once all information has been taken into account. A consumer can only apply for debt counseling if his/her monthly disbursable amount (Nett income minus living expenses) is LESS than the amount required to service all obligations. AS EXAMPLE ONLY. If the consumer only has R5000 to pay his/her debt after the living expenses have been accounted for, and the total monthly debt repayments are R6000 the application would be a success.
If the consumer is indeed over indebted according to the above method all creditors would be informed of this for their record.
The restructuring process can now begin. The Debt counselor will now restructure and renegotiate all credit agreements and present these proposed terms to all creditors. This new proposal will then restructure the consumer’s monthly commitments to be more affordable and ensure that all credit agreements get something every month.
. The new proposal will now be sent out to all the creditors after it has been approved by the consumer. Should all creditors agree to a consent order that new arrangement will be made an order of court. If there are some creditors who don’t agree to the restructuring a court date will be allocated for the matter to be heard. At this hearing the magistrate will have no choice to grant the order if the debt counselor acted in terms of the Act and subsequently restructured the debt accordingly.
All disbursements of contributions will be handled by a registered Payment Distribution Agency (PDA). The PDA is regulated and governed by the Act. As soon as a restructuring proposal is agreed on by the consumer payments of the distribution amount will be paid over from the consumer directly to the PDA. The PDA in turn will disburse with the funds as per the restructuring proposals.
The Fee structure:
Debt counselors are entitled to a maximum of R6000 plus VAT for single applications and R4000 plus VAT for a joint application.
The Act allows for the following payment of Debt counselor fees as well as Legal fees.
The first payment made by the PDA will pay the debt counselors fee
The second payment will pay the legal fees
The third payment will be the first payment that creditors receive. This is done so that consumers don’t have to pay any money that they might not have up front, and to make the process affordable.
When the payments are being made to the creditors by the PDA there will be some agreements that will be paid up before others. As soon as this happens the Debt counselor must restructure the payments again to make sure any creditor is not paid more than he must receive and to disburse the surplus equally between the other to ensure that the process runs smoothly. For this the Debt counselor is entitled to a 5% after care fee not exceeding R400.

Our Head Consuotant Nangamso Makalima explaines debt counselling / debt review.

https://www.g.page/richard-killen-scarborough-east This video clip gives a short overview of debt counselling found in Scarborough East and bordering areas in regard to what debt counselling is plus your choices to credit and debt counselling in Ontario.

Credit and Debt Counselling in Scarborough East.
So many people today are having a hard time paying their credit debt, may it be charge cards or almost any other sort of debt.

Are you one of them?

Are you likewise having problems managing your own personal debts for several months or perhaps years?

Are you one of the many people that disregard the issue or wait and allow it to build up, or perhaps stubbornly hang on in worry about filing for bankruptcy?

The right way to find the most effective option is obtaining help and advice from a personal debt counsellor, although not debt counsellors can offer all the options that may be the most beneficial solution for you.

Personal debt counselling is a good alternative to bankruptcy, where a great deal of men and women who do not want bankruptcy as a remedy to their debt troubles.

Speaking with a Licensed Insolvency Trustee will guide you through each of the options which might be appropriate for you, so that you can make the most appropriate choice for your needs.

Consulting a trustee doesn’t mean you are filing for bankruptcy, instead, they will review your circumstance and provide you with your options to get the suitable choice to your debt problems, such as credit and debt management, a consolidation loan, a consumer proposal and bankruptcy.

Richard Killen and Associates have been offering personal debt and credit counselling for more than 25 years. We use a variety of tools to ensure you get out of debt however not simply that, we provide basic credit education about budgeting and money management skills to help you to reach your financial goals.

“This Could Be The Most Stress Relieving Call You’ll Ever Make!”

We have offices over the GTA. Visit https://rkillen.ca/debt-counselling-toronto-an-alternative-debt-relief/ for more information.

Richard Killen & Associates Ltd Scarborough East
2100 Ellesmere Road,
Suite #201D Scarborough, ON M1H 3B7, Canada
Tel: +1 416-644-1212

https://rkillen.ca/consumer-proposals-bankruptcy-trustee-in-scarborough-east/

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