info@ccrn.ca  |  1-800-663-3973
Serving the Niagara Region since 1975

Debt Solutions

Unlike some other credit counselling agencies, CCRN may be able to offer real alternatives to bankruptcy and consumer proposals.  We will work with you to develop a plan to help you gain control of your debts and finances.

This plan may include:

  •  A comprehensive and unbiased review of all available options
  •  Confidential financial and credit counselling on how to handle your money and reduce or eliminate your debts
  •  Developing a realistic personal budget or providing credit guidance
  •  Arranging a satisfactory solution with your creditors, with the help of your counsellor
  •  Entering into a Debt Management Program (DMP) in which you regularly deposit money with our agency to be distributed equitably among your creditors once a month

We are here to assist you whatever your needs may be. We can help you gain financial control.

What is a Debt Management Program (DMP)?

One of your options may be our Debt Management Program. Your counsellor will work with you to develop a realistic budget. We then contact your creditors to propose a new payment schedule for you to repay your debts. At that time, most creditors may accept a reduced monthly payment, and may agree to stop or reduce interest. Once a month you would send or bring us a payment, which we distribute to your creditors on your behalf. Overall, we work with you to accomplish your financial goals.

Do all of my debts have to be included on a Debt Management Program?

Yes. For the most effective and equitable treatment of your debts, we need to include all debts in the Debt Management Program. Your counsellor will ask you to relinquish all of your credit cards.

Will my creditors still call me?

Once you have signed up for a Debt Management Program, we will be contacting your creditors. Most communication from creditors will occur directly with us. If a creditor does call you, you can inform them you are on a DMP and provide them with our name and phone number.

How does a Debt Management Program affect my credit rating?

Your creditor may report your account as “R7”, which means your debt is paid through a consolidation order, consumer proposal, or credit counselling debt management program. Provided you complete your DMP successfully, the credit rating(s) you received while with Credit Counselling can be purged 3 years from your completion date. With other options, your credit rating would stay where it is for approximately 6 years after the last date of activity. 


Testimonials
This agency helped me get my life back, and also gave me the tools to better manage my finances. The staff made me feel very at ease and stress free!
2014-06-04T15:47:47+00:00
This agency helped me get my life back, and also gave me the tools to better manage my finances. The staff made me feel very at ease and stress free!
Absolutely wonderful people who make you feel comfortable and let you know there is a light at the end of the tunnel.
2014-06-04T15:46:44+00:00
Absolutely wonderful people who make you feel comfortable and let you know there is a light at the end of the tunnel.
Excellent advice and assistance for my situation. Highly recommend all your employees for an excellent job and I’m sure I am not alone in praising your fine group.
2014-06-04T15:47:28+00:00
Excellent advice and assistance for my situation. Highly recommend all your employees for an excellent job and I’m sure I am not alone in praising your fine group.
What a relief it was to show up in my counsellor’s office with all my messy finances laid in front of her and be treated with respect and absolutely no judgment.
2014-06-04T15:49:17+00:00
What a relief it was to show up in my counsellor’s office with all my messy finances laid in front of her and be treated with respect and absolutely no judgment.
I feel like a huge weight has been lifted off my shoulders! For once someone is helping me and I know I am not alone! Thank you.
2014-06-04T15:46:22+00:00
I feel like a huge weight has been lifted off my shoulders! For once someone is helping me and I know I am not alone! Thank you.
We greatly appreciated the caring and compassionate help, wisdom and guidance. You have made a difficult situation more bearable.
2014-06-04T15:47:05+00:00
We greatly appreciated the caring and compassionate help, wisdom and guidance. You have made a difficult situation more bearable.
My counsellor made me feel at ease and explained everything very thoroughly. Her care and compassion to help people really made my year.
2014-06-04T15:48:03+00:00
My counsellor made me feel at ease and explained everything very thoroughly. Her care and compassion to help people really made my year.