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Debt Counselling Services in Alberta
Introduction:
At SCB Debt Solutions, our debt counselling services is designed to help you understand your financial situation and develop practical strategies to regain control. Together, we’ll review your debts, income, and expenses to create a realistic budget tailored to your needs. Our Licensed Insolvency Trustee will provide expert advice on managing payments, reducing debt, and building long-term financial health.
This service is ideal for individuals who feel burdened by their financial obligations but want to avoid drastic measures like bankruptcy. With SCB’s compassionate guidance, you’ll leave with a clear plan to take control of your finances and the confidence to move forward.
What is Debt Counselling, and How Does It Work?
Debt counselling in Canada is designed to help individuals manage overwhelming debt through a structured repayment plan. A licensed Insolvency Trustee can assess your financial situation, negotiate with creditors, and create an informal Debt Management Plan (DMP) that consolidates your payments into a single, manageable amount. Many creditors agree to reduce or eliminate interest rates, making it easier to repay what you owe. Debt counselling helps you avoid more formal measures like bankruptcy.
Who Qualifies for Debt Counselling in Alberta?
Debt counselling is available to Canadians who are struggling to manage their unsecured debts, such as credit card balances, personal loans, payday loans, and lines of credit. To qualify, you must have a steady income that allows you to make structured repayments or access to a lump sum that can be offered as a settlement. However, if you are already insolvent and unable to pay any of your debts, you may need to explore other options like a consumer proposal or bankruptcy. A Licensed Insolvency Trustee will evaluate your financial situation and determine the most suitable debt relief solution for you.
Benefits of Debt Counselling
Debt counselling offers several key benefits:
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Helps you avoid bankruptcy by providing an alternative, manageable repayment plan.
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Many creditors may lower or freeze interest rates, reducing the total debt owed.
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Simplifies payments: make a single monthly payment, which is distributed to creditors through:
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An informal debt management plan via a Licensed Insolvency Trustee, or
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A formal debt management plan via a non-profit credit counselling agency.
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Provides financial education to improve budgeting skills and prevent future financial difficulties.
Why Choose SCB Debt Solutions?
We offer one-on-one, confidential sessions to understand your unique financial situation and tailor solutions accordingly.
Our team includes Licensed Insolvency Trustees with extensive experience in debt counselling.
We provide a non-judgmental environment to discuss your financial challenges and work towards solutions.
All consultations are free and confidential, ensuring your privacy and peace of mind.
What Are the Main Causes of Debt, and How Can Counselling Help?
Debt can occur for many reasons, including:
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Job loss or reduced income
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Medical or unexpected expenses
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Relationship breakdowns or family challenges
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High-interest credit card usage and personal loans
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Financial mismanagement or lack of budgeting
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Rising living costs or economic downturns
Even responsible individuals can find themselves overwhelmed by debt due to circumstances beyond their control.
Debt counselling provides expert guidance to help you regain control of your finances. A counsellor can:
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Assess your complete financial situation, including income, expenses, and outstanding debts
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Help you prioritize essential expenses and reduce unnecessary spending
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Develop practical money management and budgeting strategies
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Offer guidance on negotiating and communicating with creditors
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Create a sustainable plan to repay debt and achieve long-term financial stability
With professional support, debt counselling equips you with the tools and knowledge to get back on track and regain financial confidence.
What Can I Expect from a Debt Counselling Session with a Licensed Insolvency Trustee?
A debt counselling session with an LIT begins with a detailed financial assessment, where we review your income, expenses, assets, and debts. Based on this evaluation, we provide personalized recommendations tailored to your situation, whether it’s budgeting assistance, informal debt restructuring, a referral to the OPD program in Alberta, a consumer proposal, or bankruptcy (usually as a last resort).
We also offer financial education, money management strategies, and credit rebuilding advice to help prevent future financial difficulties. The goal of these sessions is to give you a clear path forward with practical solutions to regain control of your finances.
DEBT COUNSELLING FAQ'S
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I have the ability now to save for my retirement. The most surprising things about this experience were the amount of debt that was eliminated, the hope I now have and, the help and support I received from the amazing people at SCB. They advise you and help you get through this. THANK YOU SCB
Eleanore A.
Client Review
Senga and Staff at Smith Cageorge Bailey have made it so easy for me to walk through the door. They were very professional and understanding of my situation. I felt completely at ease and would recommend them to my family and friends.
Liana S.
Client Review
Talk about life changing. In 2013 I went to SCB looking for guidance with my finances. I was feeling defeated and embarrassed on how I let myself down in debt. Senga Bailey instantly made me comfortable and guided me through the process of bankruptcy.
Joey K.
Client Review
Real financial solutions for real people
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