Agency: Credit Counselling Service of Sault Ste. Marie & District
Topic: Credit Card Dangers
CREDIT COUNSELLING SERVICE OF SAULT STE. MARIE DISTRICT
Are you starting to feel that your credit card debt is getting out of control? If so, you are not alone. Industry Canada recently published its 1998 year-end facts and figures. Outstanding balances on Canadian Visas and Mastercards at the end of October increased a whopping 16% in 1998 to a total of $23.9 billion. Traditionally Canadians are a nation of savers, but statistics show that Canadians are spending more than they earn and the shortfall is being made up with credit cards. Once in this cycle it is very difficult to break. Not only is it expensive (interest charges), but it can be very stressful. People are having to take money out of savings to pay for todays debts. This makes them vulnerable to unexpected expenses and thus even more reliant on credit as they have to turn to credit to cover the expense that savings once would have covered if it was not used to pay down debt.
If this sounds familiar, Credit Counselling Service of Sault Ste. Marie and District may be able to help. Credit Counselling Service provides Debt Repayment Programs where debt payments are lowered based on your ability to pay, as well as budget/money management counselling, intervention with creditors as a third party, and providing public education regarding uses and abuses of credit. They are dedicated to helping consumers get out from under the burden of their debts while at the same time becoming better money managers. They offer free confidential counselling, professional money management advice, and viable alternatives to bankruptcy. Credit Counselling Service of Sault Ste Marie is a non profit, charitable organization, United Way member agency and an accredited member of the Ontario Association of Credit Counselling Services. If you feel overwhelmed and stressed out over money management give them a call at 254-1424 THEY CAN HELP!