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Credit Counselling Service of Sault Ste. Marie & District

Credit Basics

The shape of your financial fitness has a lot to do with your debt level. Living without debt may be the dream of many Canadians, however it is not the reality for most. In fact credit can be a very effective tool when managed properly. However, too much debt, or high interest costs can quickly lead to financial difficulties. Understanding credit and using it effectively are key to maintaining a proper financial balance.

The links below provide an outline to managing credit properly. We recommend you read all the pages to provide yourself with a well rounded understanding of the world of credit. For more detailed help you can call and set up a free appointment with one of our professional counsellors.

Whenever you use credit keep these points in mind:

Regardless of the type of credit you may use, it is important to keep in mind that a creditors role is to simply sell you money at a higher price. They do this because they profit from it!

You can not borrow yourself out of debt! Refinancing, consolidating, or transferring balances may allow some breathing room but they are not solutions, they are a band aid (temporary) fix. The debt is still there and eventually it will have to be dealt with.