As part of your bankruptcy or consumer proposal you are required to attend a minimum of two credit counselling sessions. These sessions are designed to help you build strong money and credit management skills so you can remain debt free once your bankruptcy or proposal is completed.
When are these sessions held?
- 1st Session – two to eight weeks after filing
- 2nd Session – any time after 30 days from the first session but before the end of the 7th month
Can I have more than two sessions?
Yes. At Hoyes, Michalos we are committed to helping ensure you have the tools and knowledge you need to rebuild your finances after bankruptcy or a proposal. If you feel an extra session would help, we are happy to arrange a free extra session for you.
What’s covered at these sessions?
These sessions focus on practical financial advice around money and credit management. At Hoyes, Michalos we cover the material required as part of your bankruptcy or consumer proposal but also cover additional topics like how to rebuild your credit.
First Credit Counselling Session
At your first counselling session you and your counsellor will review four main topics:
- money management;
- spending and shopping habits;
- warning signs of financial difficulties; and
- obtaining and using credit.
Your counsellor will also answer any questions you may have, so feel free to bring your questions to your first counselling session.
Second Credit Counselling Session
At your second session we will help you look at the potential causes of financial problems and dig deeper into money management and budgeting skills. We will help you develop a plan of action that can help you achieve your goals including rebuilding and using credit wisely moving forward.