Q: How do I get started?
A: Just fill out the client information form and fax, mail, email or bring the form in to our office.

Q: What happens during my initial free consultation with a credit counselor?
A: Every client's situation is unique therefore it is essential to have an experienced person evaluate yours. Canada Debt Consulting's professional staff will consult with you about your different resolution options and outline a suggested payment plan to settle your debts within 48-55 months.

Q: How will the DMP affect my credit rating?
A: Your credit rating is largely determined by two factors: your payment history and your debt to income ratio. Any DMP will affect your credit rating. However as you begin to pay off the accounts and obtain zero balances you will ultimately lower your debt to income ratio thus improving your credit score. You must understand that no matter which direction that you choose in getting out of debt you are looking at repayment. Our goal is to put Canadians on the road back to financial fitness and financial freedom.

Q: Can you stop legal action and phone calls?
A: In most instances we are able to negotiate with the creditors and avoid legal action. The phone calls will cease from the collectors as long as the payments are made according to the commitment that you make to Canada Debt Consulting and the creditors.

Q: Do I have to include all of my debts or can I select the debts I want to include in the program?
A: Yes all of your debts that are unsecured must be included in the program. The only exception would be a secured debt or a debt that is co-signed by another party that is not entering into the DMP.

Q: Will the interest stop accumulating on the debt?
A: Most of the creditors will forgive the interest, however some may reduce it but not entirely.

Q: Do I get to keep my credit cards?
A: You are asked to cut up your credit cards but there may be the odd exception and that will be up to your counselor. There are unique circumstances, which will be discussed with you by your credit counselor.

Q: What is the difference between not for profit and for profit credit counseling companies?
A: Not for profit are paid by the creditors and for profit are paid by the client.

Q: How does your company get paid?
A: Our initial financial evaluation or consultation is provided free of charge. The debt management program administration fees are based on the number of creditors involved and your ability to pay. Our fees will be explained in detail to you once we have completed our evaluation of your financial situation. Our fees are almost always offset by the interest rate concessions we negotiate with the creditors. Our service, in most cases, will not cost you anything; in fact if you calculate what you pay in interest to your creditors vs. what you will pay in fees to Canada Debt Consulting you will be saving hundreds if not thousands of dollars.