How do credit counsellors help?
A credit counsellor will review your bills and your budget. They
help you choose which of your past due bills are most urgent. And they help you figure out how much you can put toward repaying what you owe each month and still have enough to live on.
The credit counsellor contacts your creditors to let them know you’re working with them to come up with a debt repayment plan. Sometimes credit counsellors can get creditors to agree to accept less money as full payment of their bills or to lower their interest rate.
If you choose to pay your creditors with an instalment plan, you pay a set amount of money every month to your credit counselling service. The credit counsellor uses that money to pay your creditors what they have agreed to accept until the bill is paid. Once your plan is in place, your credit counsellor will talk to your creditors to let them know you have an instalment plan. This might stop your creditors from contacting you.
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