CREDIT COUNSELLING

All individuals dealing with G. Slocombe & Associates Inc. will receive credit counselling advice.

Initial Assessment

At your initial consultation we will assess your current financial situation and provide you with details of the options available to you. These options may include debt management, debt consolidation, consumer proposal or filing for bankruptcy. The goal of our initial credit counselling will be to help you understand all your options in eliminating your debt and how to hopefully avoid having to file for bankruptcy. You will receive personalized advice regarding which alternative may be best for your situation.

During a proposal or bankruptcy

Should you choose to file a proposal to your creditors or file for bankruptcy, further credit counselling is also provided. This normally involves two counselling sessions provided during either the proposal or bankruptcy process. These are conducted on a one-on-one basis with a qualified and experienced insolvency counsellor.

The sessions will focus on improving money management and spending habits as well as helping you identify early warning signs of financial difficulties. We will also help you understand the causes of insolvency and credit problems and assist you in establishing a realistic financial plan of action.

Other Credit Counselling Services

The term “Credit Counselling” also refers to the services provided by various debt management firms and individuals that promote making payment arrangements with your creditors. While some arrangements are possible, there are a number of important factors to consider before dealing with these firms. Unlike licensed Trustees, credit counsellors:

  • Are not required to advise you of all your options for debt relief and they may not have the professional or educational qualifications to do so.
  • Are not required to have any federal licensing and are not subject to any independent regulations or government oversight.
  • Do not have any means of legally stopping harassing calls and legal actions from creditors.
  • Do not have the power to bind all your creditors in a debt settlement arrangement yet may still charge you large upfront fees.

A licensed Trustee, such as G. Slocombe & Associates Inc., can provide you with details of all your debt elimination and debt settlement options. We can provide you with a means of obtaining full and immediate protection from your creditors and we charge no upfront fees. All initial consultations are free.