If you’re in debt and struggling to get your personal finances on track, whom do you turn to?
For decades, charitable credit counselling agencies have offered help to indebted Canadians.
However, in the U.S., a new style of counselling has emerged in recent years, giving rise to consumer complaints about hefty fees and lack of face to face counselling. These complaints prompted a crackdown by US regulators.
Recently, a couple of U.S. credit counseling companies set up shop in Canada. Marketplace tests one new agency to see whether some of the same issues could now be creeping into the credit counselling sector here.
How do they suggest people curb their spending? How much counselling do they give about managing money? And most importantly, how do they offer to help make an individual’s debt go away?