Credit Counselling in Ottawa, Eastern Ontario, and virtual locations throughout Ontario
Serving Ottawa, Kingston, Brockville, and the Surrounding Areas
At D. & A. MacLeod Company Ltd., we understand that re-establishing your credit after bankruptcy, delinquent payments, high debt, or having no credit can feel like a high-stakes guessing game. Our experienced financial advisors specialize in credit counselling in Ottawa and throughout Eastern Ontario, taking the guesswork out of rebuilding credit and achieving real results.
When it comes to credit debt counselling in Ottawa, Kingston, Brockville, and surrounding areas, our longstanding reputation speaks for itself. With convenient locations in your neighbourhood, it's easier than ever to get the right advice for your financial situation. Through our time-tested methods and compassionate staff, D. & A. MacLeod Company Ltd. is committed to helping you start fresh and achieve lasting financial stability.
CREDIT DEBT COUNSELLING FOR OTTAWA, KINGSTON AND EASTERN ONTARIO
Credit counselling is valuable for those who have noticed their spending habits negatively impacting their lives and are concerned about their financial future. Our Licensed Insolvency Trustees (LITs) have the expertise to provide comprehensive financial advisor debt counselling in Ottawa and across Eastern Ontario.
During a credit debt counselling session, our financial advisors will help you:
Establish a realistic budget to meet monthly expenses
Analyze potential lifestyle alternatives to reduce the impact of your spending
Set short-term and long-term financial goals
Prepare informal arrangements with your creditors if necessary
WHEN SHOULD YOU SEEK CREDIT COUNSELLING?
It is recommended that you seek credit counselling when you need advice on managing your money, or when you are seeing that your debt repayments are negatively affecting your ability to pay for your monthly expenses.
Some of the biggest signs of budget stress that can be helped through credit counselling include:
​ You borrow money to make it from one payday to the next
​ You go over your spending limit and use your credit card as a source income
​ You are applying for another credit card because your existing cards are at their limit
​ High interest rates are making it difficult to pay off your debts
​ You have been denied a loan or line of credit due to high rotating balances
​ You have a high debt-to-income ratio
​ You are not making progress in meeting your financial goals
Timely payments are the most important component, so paying even the minimum is necessary to maintain a good credit score. At the first sign of financial trouble, you can discuss possible special arrangements with your bank or other lenders to help you pay off your debt.
THE BENEFITS OF FINANCIAL ADVISOR DEBT COUNSELLING
Seeking professional credit debt counselling in Ottawa offers numerous advantages. Our experienced financial advisors provide expert guidance to help individuals navigate a wide range of financial challenges. We offer personalized solutions tailored to your unique financial situation and goals, ensuring you receive the most effective strategies for managing and reducing debt. Through our services, you can improve your financial literacy by gaining valuable insights into budgeting, saving, and responsible credit use. Additionally, addressing your financial concerns with professional support can significantly reduce stress and contribute to overall well-being.
WHY A GOOD CREDIT SCORE IS IMPORTANT
While you may not presently see the downside of poor credit, the next time you apply for a car loan, insurance, mortgage, business loan, cell phone contract, or even a job, you may find yourself locked out of an opportunity and/or financing. Even if you are approved for a loan, your poor credit score may make it difficult to repay it due to higher interest rates. And, when renting property or signing up for utilities, you may be asked to pay a security deposit to secure the rental contract. Poor credit scores can also impact personal relationships as they add stress. You may start to receive calls from debt collectors, as well.
REBUILDING YOUR CREDIT SCORE
One of the best ways to rebuild good credit is to apply for a credit card and make timely payments. If your financial issues keep you from obtaining a regular card, then you can apply for a secured credit card that requires a deposit to the issuer – usually for the same amount as the card’s limit. Payments are reported the same way to credit agencies, which can improve your history.
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Repairing credit usually takes about six to seven years, whether you have had late payments, repossessions, foreclosures, or other financial trouble. An adverse action letter, if you receive one, can indicate what affected your credit score. But simply rehabilitating your spending and payment habits through credit counselling to correct these issues will help you improve your credit history.
FREQUENTLY ASKED QUESTIONS
CREDIT COUNSELLING IN OTTAWA, KINGSTON & ACROSS EASTERN ONTARIO
At D. & A. MacLeod Company Ltd., we can review your financial situation and recommend the next steps to get your life back on track.
With our virtual appointments, you can connect with us from anywhere, or visit one of our convenient locations in Ottawa, Kingston, Brockville, Smiths Falls, Pembroke, Cornwall, or elsewhere in Eastern Ontario to get answers to your credit counselling questions.
Contact us online or call 613-655-9917 for a free, confidential consultation to explore your credit counselling options.
MORE CREDIT CARD ADVICE
Read our blogs for more advice and information regarding credit scores, credit ratings, repairing credit, your habits and more!
