Credit Counselling

Every individual who files personal bankruptcy or makes a consumer proposal to creditors must attend two mandatory credit counselling sessions during the process. The objective of the credit counselling process is to help the debtor identify causes of financial problems and develop tools and strategies (such as personal budgeting) to better manage money and credit after bankruptcy.

Credit counselling also refers to the service offered by not-for-profit credit counselling agencies to help you develop a repayment plan to repay your debts in full known as a Debt Management Plan.