What is Credit Counselling Niagara?
CCN is a non-profit community organization offering no cost/low cost confidential credit counselling. Your first counselling session is always free. During your appointment, a counsellor will review your financial situation and present all of the options available to you. All of our counsellors strive to provide you with information that will help your situation. Our goal is to empower you, not reprimand you.
What should I bring to my appointment?
We require the following items:
- Proof of income (i.e. paystub)
- List of monthly expenses and monthly amounts (i.e. rent/mortgage, utilites, groceries, recreation, etc.)
- List of creditors, account numbers, and amount owing to each (please bring recent statements if available)
How long does an appointment take?
The average appointment is approximately 1 hour long.
I do not have transportation to your office. Can I do an appointment over the phone?
Yes. If transportation is an issue, we will schedule a telephone appointment for you.
Is there a fee for your service?
There is no fee for our counselling or budgeting sessions. The Debt Management Program fee is 10% of your monthly payment. In case of hardship, the fees will be waived. No one is turned away because of the inability to pay the Debt Management Program administration fee.
What is a credit rating and why is it important?
A credit rating is a reflection of your payment history with your creditors. A credit rating report is similar to a report card where each of your creditors provides you with a ‘grade’ based on your payment history. A good credit rating is important to have when applying for additional credit such as car loans, mortgages, credit cards, etc. MORE INFORMATION ABOUT HOW TO UNDERSTAND YOUR CREDIT RATING
How do I remove a debt repayment program from my credit record early?
When you take part in a debt repayment program it is recorded on your credit history and affects your credit score. Participating in a debt repayment program can stay on your Equifax credit report for 3 years after successfully completing any program. The debt repayment program should automatically be removed from your credit report 3 years after successfully completing the program.
To make sure that your debt repayment program has been removed from your Equifax credit report after 3 years, you can fax the following information to 1-514-355-8502 and 1-800-314-7851:
- Full name, including middle
- Date of birth
- Mailing address
- Social Insurance Number
- Photocopy of 2 pieces of identification, one of which must be photo
- Copy of paid in full/discharge letter from CCRN (mailed to you upon completion of program/file closure)
- Brief write up, a few sentences long, requesting that information pertaining to Credit Counselling be removed from your credit report now that 3 years has passed since the program was finished.