Credit Counselling: Overview

Everything you need to know to get started.

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What is Credit Counselling?

Credit counselling is a great way to take the first step toward gaining control of your finances.

It means sitting down with someone who truly understands what you’re going through — someone who will listen, assess your financial situation, and walk you through your options. Depending on your needs, this might include a debt management plan, a debt consolidation loan, or even a legally backed solution like a consumer proposal. While not-for-profit agencies can help with smaller debts, only Licensed Insolvency Trustees are qualified to guide you through all your legal debt relief options. If you’re feeling overwhelmed or unsure where to begin, credit counselling is the perfect place to start.

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The Power of Personalized Guidance

When you speak with a Licensed Insolvency Trustee, you get more than just generic advice.

You gain a trusted partner who will explain every available option and help you choose the one that fits your life best. Whether that’s negotiating lower interest rates or helping you file a legal debt solution, this kind of personalized support can lift a huge weight off your shoulders.

Outcomes

Overview

What You’ll Learn With Credit Counselling

When you participate in credit counselling, you’ll gain:

A better understanding of your finances
Knowledge about all forms of debt relief
Clarity on your debt obligations
Support in developing a realistic repayment plan
Confidence in your next steps
Peace of mind knowing help is available

Benefits

eligibility criteria

Who Can Get Credit Counselling Help?

Credit counselling is a great starting point for many Canadians who:

Are feeling overwhelmed by their debt
Want to know all available relief options
Need help understanding their financial situation
Want to avoid bankruptcy but need support
Are unsure whether they qualify for debt relief solutions

If this sounds like you, we’re here to help provide you with more information about your options and which could be the best fit.

FAQ

common question

Do I Really Need a Licensed Insolvency Trustee for Credit Counselling?

While not-for-profit credit counsellors can help with budgeting and debt education, only a Licensed Insolvency Trustee can legally explain all your options, including formal solutions like a consumer proposal or bankruptcy.

This means you’ll get the complete picture — no partial advice, no hidden agendas. Trustees are regulated by the Canadian government and will work with you to find a debt relief plan that truly fits your life. If you’re ready to take that first real step, a Licensed Insolvency Trustee can be your best resource.

Getting Started

next step

How Do I Get Started?

The first and most important step is to speak to a Licensed Insolvency Trustee.

They will listen to your story, answer your questions, and help you map out a plan to take control of your finances. No matter how serious your debt may feel, there’s always a solution — and you don’t have to figure it out alone. Licensed Insolvency Trustees are the only professionals in Canada legally able to file all forms of debt relief. At Spergel, our experienced LITs offer:

Free consultations
Meetings with you as often as you need
A full review of your finances and options
Affordable, practical solutions
A 99% acceptance rate on consumer proposal we file

You Don’t Need to Go Through This Alone. Let’s Talk About Your Options.

Book a free call with Spergel today, and we will make a plan with you on how to help.

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Real Canadians. Real Success — Like Sarah

“In just three months, tracking my spending became a game-changer. I thought I was budgeting well, but the reality was eye-opening. Spergel helped me realize that the ‘small’ purchases were adding up. Thanks to their guidance, I saved $600 in just two months!”

– Sarah, Ontario

Read Sarah’s Story

Sarah’s Story is just one of many

It shows that once you face your debt and get the right help, life can get better – quickly. Discover more Success Stories of Canadians we’ve helped, or reach out to us.

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